Category: Tax

FLP’s Revisited

By Tim Gulbranson Introduction This past June I wrote and posted on this blog about the potential that the IRS would release new regulations on the use of Family Limited Partnerships (FLP) or Family Limited Liability Companies (FLLC) as an estate planning strategy to help shrink or eliminate a high-net worth individual’s federal estate tax…

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Is the ACA in Your Mailbox? Reading Between the Lines on Marketplace Subsidy Notices

By: Tim Gulbranson As the multi-year phase-in of the Affordable Care Act (ACA) continues, requirements for employers, employees, and government agencies continue to be rolled-out and enforced.  The newest mandate of the law, the Employer Notice Program for Federally Facilitated Marketplaces (which includes both Iowa and Illinois), was implemented by the Centers for Medicare &…

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Compass

Uncertainty in Estate Planning? Changes Coming for Family Limited Partnerships

By: Tim Gulbranson On May 6, the Treasury Department Office of Tax Policy announced that it plans to issue proposed regulations for Internal Revenue Code Section 2704, which regulates property valuation held by a “Family Limited Partnership” (FLP) or “Family Limited Liability Company” (FLLC).  Because of the current regulatory language’s inability to successfully execute the…

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Best…(Tax)Year…Ever…

By: Kyle Day The season to Netflix Turbo Tax and chill has arrived, and efforts to eFile before someone else does (fraudulently) on your behalf are underway.  In case you hadn’t considered it before, the IRS recently released a Fact Sheet outlining several reasons why the 2015 tax return season may just be the best…

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