Estate and tax planning enthusiast; partner, Best Best & Krieger LLP; fellow, ACTEC; outdoor adventurer; philanthropist; and mom. *Advertising Materials*
A short 🧵(1/x)
🚨Breaking News🚨
IRS just released its latest RMD Guidance for beneficiaries of IRAs, 401(k)s, etc. who are subject to the "new" 10-Year Rule created by the original SECURE Act.
Actual text: https://t.co/eVffWWWe7b
Here are the 2 most important takeaways...
Treasury has finally released the IRS contingency plan which reveals that during the shutdown, about 2/3 of IRS employees will be furloughed. Here’s a look at what the IRS will—and won’t—be doing if a shutdown happens. #IRS#shutdown
https://t.co/vnBprgRvC4
Diving Into SECURE 2.0: New #DOL Lost and Found, Updates to EPCRS, and Delayed Implementation of# Roth Catch-Up Requirement #SECURE
https://t.co/GAb0LjMbyI
Legal marketers should remain wary of relying too heavily on #ArtificialIntellegence when aiming to increase their efficiency with daily tasks.
Read about #AI limitations here: https://t.co/okIY3lxEH2
Having healthy money habits is important, no matter how old you are. In this month’s wealth management blog, Josh Frankel, CFP®, discusses tips for developing healthy money habits for children of all ages, and why it’s never too late to start. https://t.co/dKvwuGT0Ee
Families that successfully transfer wealth often think long and hard about what they are trying to preserve – and why they are trying to preserve it. Check out my latest @EvercoreWealth Independent Thinking article. https://t.co/Mps4YXRuRB
Grant money for accounting firms in Oregon assisting socially and economically disadvantaged individuals in - see below if you might qualify 😌 #taxtwitter
Understand what’s involved in the role of a property or financial Power of Attorney (POA), what’s entailed, and what questions you should ask yourself. #EstatePlanning#powerofattorney#ACTEC#ACTECFellow https://t.co/Wp4KK0aKWG
🚨Breaking News🚨
In Notice 2023-54, the IRS just answered the #1 question on many advisors’ minds…
Q: Do beneficiaries subject to the 10-Year Rule who inherited from someone dying on/after their RBD need to take an RMD this year?
A: NO! (At least not for 2023)
Full text of Notice: https://t.co/KBec7ZHKZd
Attorneys explain the responsibilities and risks of being a trustee of a trust, a role that involves significant legal and ethical obligations. #EstatePlanning#trustee#ACTEC#ACTECFellow https://t.co/Q95uVM7ghu
The founder of Patagonia clothing transferred $3B of stock to a Purpose Trust. What is a Purpose Trust and how does it meet Patagonia's corporate objectives? #patagonia#estateplanning#ACTEC#ACTECFELLOW https://t.co/OKZpuAjm6u
Are you familiar with “Non-Grantor Irrevocable Complex Discretionary Spendthrift Trusts?” In my latest @ACTECNEWS podcast, I address how such trusts are being appropriately used and how they are being potentially abused. #ACTEC
Taxpayers Roy A. Nutt and Bonnie W. Nutt electronically filed a petition in Tax Court to contest a Notice of Deficiency from the IRS. But a time zone snafu resulted in a dismissal.
(H/T @Narfnampil)
https://t.co/Wq4TlSFSke via @forbes