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Posts Tagged tax planning

Rules For Expatriation? How About An Exit Tax!

As taxes continue to climb, more and more Americans are getting fed up. While its common to hear people in taverns and lunch counters across the country threaten to simply give up their citizenship, record numbers are actually doing so! Renouncing one’s citizenship and leaving the country is called expatriation. Of course many people who [...]

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Tax Reform – Has The Time Finally Arrived?

Earlier this week while sipping wine at the Milwaukee Public Market I sat next to policy wonk from a DC think tank. With the National Governors Association in Milwaukee, lobbyists from around the nation are in town. Predictably, our conversation soon turned to the economy and tax reform. Once again the talk of tax reform [...]

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Revoking An Irrevocable Trust? Yes!, It’s Possible

Irrevocable trusts have been common estate planning tools in recent years. Once thought to be only for the super rich, they have become fairly common place. In most instances, they are a great way to insure your assets remain useful long after you die. There are dozens of reasons for creating irrevocable trusts but little [...]

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Tiger Woods and Tax Migration – The Wealthy Flee High Tax States (tax planning post)

by Brian Mahany Recently I read a story in the British paper, the Daily Mail about “tax migration.” I have known that some people are fleeing the United States and renouncing their citizenship but those cases are relatively few. I was shocked to read, however, just how many Americans are moving within the United States [...]

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Succession Planning For Family Businesses

by Brian Mahany Although we are a full service tax firm, most people think of us only for our fraud and offshore reporting work. Our team of highly specialized tax lawyers can also assist in tax and estate planning.  According to recent studies, 25% of family businesses plan on a change of ownership in the [...]

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IRS Issues Its Annual “Dirty Dozen” List of Tax Scams

by Brian Mahany Its days before individual income tax returns are due and the IRS press machine remains in high gear. In recent years, the IRS has issued an annual list of the most popular tax scams. The list is helpful for two reasons. One is to protect the public and two, because it offers [...]

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