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For Advisors
Monday January 30, 2023
Advisor Resources
We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.More |
Washington News
In IR–2023–12 the Internal Revenue Service (IRS) reminded taxpayers to report all digital asset income on their 2022 income tax returns.
All taxpayers must answer a digital asset question on IRS Form 1040. The IRS has expanded and clarified instructions with respect to the question. The question asks, "At any time during 2022, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?"
Digital assets include cryptocurrency, stablecoins or non-fungible tokens (NFTs). All taxpayers who file IRS Forms 1040, 1040-SR or 1040-NR must answer either "Yes" or...More |
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GiftLaw Pro
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...More |
Article of the Month
The Secure Act 2.0 was included in The Consolidated Appropriations Act of 2023 (H.R. 2617). It includes many changes that will enhance and facilitate retirement benefits.
Since passage of the original Secure Act in 2019, both House and Senate Members have been working on further changes to encourage saving for retirement. Secure Act 2.0 will increase the required minimum distribution age, allow a larger catch-up contribution limit, facilitate rolling some Section 529 plans into Roth IRAs and generally...More |
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Case of the Week
Lucky Lucy Lindstrom finished college and headed west. She started as a financial analyst with a large company in Seattle. After just four years, she became a Registered Investment Advisor and began...More |
Private Letter Ruling
Foundation requested advance approval of its scholarship and educational grant procedures under Sec. 4945(g)(1) and Sec. 4945(g)(3), respectively. Foundation plans to operate a scholarship program for...More |
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