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For Advisors
Monday December 4, 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-2023-222, the Internal Revenue Service (IRS) reminded low-income and moderate-income taxpayers they could benefit from a "Saver's Credit" in 2024.
The Saver's Credit allows individuals to contribute up to $2,000 to a retirement plan and receive a credit. The credit is also available to individuals who are a beneficiary of an Achieving a Better Life Experience (ABLE) account.
The maximum credit is $1,000 for a retirement contribution of $2,000. The maximum credit amount is increased to $2,000 for a retirement contribution of $4,000 by a married couple.
Taxpayers who are age 18 or older are eligible for the Saver's Credit if they are not claimed as a dependent on another individual's tax return and...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
Commercial annuities are considered by many to be safe investments for individuals looking to secure a consistent source of income over extended periods, notably during retirement. A commercial annuity will typically provide financial security throughout an individual's lifetime, with the goal of alleviating concerns about depleting retirement savings.
Over time, however, an individual's finances may change, and their priorities may shift to philanthropic interests. Charitably minded individuals may...More |
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Case of the Week
Gregory, 60, is a very control-oriented businessman. In fact, his business philosophy is best summed up as "my way or the highway." While sometimes difficult to work with, Gregory nevertheless has...More |
Private Letter Ruling
Decedent was survived by Spouse. Based on the value of Decedent's gross estate and taxable gifts, it was represented that Decedent's estate (Estate) was not required to file Form 706, U.S. Estate Tax...More |
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