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For Advisors
Wednesday June 7, 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
With a vote of 314 to 117 in the House of Representatives and 63 to 36 in the Senate, Congress sent the Fiscal Responsibility Act of 2023 to the President. When the President signs the bill, the threat of a default on U.S. debt and obligations is avoided.
There was a sigh of relief in Congress, the White House, the financial markets and by world leaders. All were hoping for a compromise and bipartisan support for the bill.
After extended negotiations between President Biden and Speaker of the House Kevin McCarthy, a bipartisan compromise was reached. The bill suspends the debt limit of $31.4 trillion until January 2025. After the next election in November of 2024, the new Congress and Administration will need to...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
Intellectual property refers to assets that do not have a physical form. Common types of intellectual property (IP) include copyrights, trademarks or patents. As intellectual property filings continue to rise, it is important to understand the treatment and regulations for these types of gifts.
A charitable gift of an IP asset can provide a donor with tax benefits. However, the legal complexities that surround these types of gifts necessitate a deeper understanding of these assets prior to making a...More |
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Case of the Week
Quentin Charles Douglas was the firstborn child in a large family. Throughout his childhood, Quentin's parents worked hard to put food on the table for their children. They also instilled in Quentin...More |
Private Letter Ruling
Foundation is tax-exempt under Sec. 501(c)(3) and a private foundation under Sec. 509(a). Foundation requested approval to set aside funds in connection with Foundation's goal to increase the...More |
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