TAX-665-X4484 E Gift
T - F Project P II
Tax strategy Contents and goals
•L out tax
•E and how can be
•L out L
charities
•A risks suggest
Risk Analysis
Tax Planning
Introduction
Introduction
Describe
Estate and Gift Tax Strategy
•C Estate and Gift lifetim exemption $12.9 , that
first $12.9 and a spouse be for estate your lifetime.
T increases year inflation.
•I 2026 tax reform half number ~$5 million.
•T reduction mean you could required to taxes the other half.
•T avoid gifting the max will honored later years gifted
2026.
•S /college medical your children grand children
would family save the taxes .
Introduction
Explain
Family Limited Partnerships &
Intentionally Defective Grantor Trusts
•T transfer, Skyscraper into FLP making limited
gifting shares even selling to kids.
•T shares be offered rates to the aspect them
•Y shares be sold into IDGT S can
giving to your as .
Introduction
Justify
Minimizing Liability
•B selling 10% the to 3 you get large inflow
•W 10% the company owned another party has controlling
gains that be out after , it can paid off
this
•I tax /loss out to 3
Tax Planning Strategy
Recommend
Life insurance, Annuities, and Charitable giving
strategy
•L insurance help reduce death burdens to . K
are due after you can offset leaving more intact
S .
•A paid to streams will cash
. A these estate highly
•C towards while liability.
C can allow to and be donated
and them counting estate.
Tax Planning Strategy
Summarize
Overall Cash Flow and Liquidity concerns
•A Insurance , and IDGT multiple
streams solid partnership.
•A shares the FLP to held by you they not tied in a
.
•K 10% from sale will a cash position.
•Y trust buy your shares the company loan
profits. T will cashflow and reducing burden
out over years payments
Tax Planning Strategy
Explain
30-year projections
•3% account looking
•U assumption tax burden will reduced suggested
dollars 30 .
•A 30 you yo shift the company an IDGT assets
frozen the value when is placed the . This will 1.357
asset value will be .
Tax Planning Strategy
Formulate
Title and Content Layout with List
•A that gift to each inflation
•U assumption tax burden will reduced suggested
dollars 30 .
•A 30 and your spouse shift $27.46 in
will be taxed death.
Tax Planning Strategy
Analyze
Long-term Income Tax Considerations
•I you do you will at ove 1.5
you .
•W rates from 37% 40% could your would get
$600 would paid in in one form another.
•T savings massive to current assets have now
Risk Analysis
Possible Penalties, Interest, and Ethical
Considerations
•L of C
•I you end up gifting more than the lifeti exc the gift tax will be owed. This can
0.5% every month that is not paid and this can increase up to 25%
•I you do not file because you don’t have the money, 4.5%
till it filed on top of the 0.5%
•I Appraisal
•I there is an inaccurate apprais are multiple iss . E , penalties legal.
•I the evaluation is off enough there will substantial penalties
•B falsifying ap could be jai for b parties
•I we as a firm have any doubts of the inaccuracy we will ethically obligated to st
or even drop you as a client if you participating in fraud.
Works Cited
•D , A. (2023, M 31). 5 W Rich Can A the Estate T . SmartAsset. Retrieved June 11,
2023, https://smartasset.com/taxes/5- -the-rich- - -the-estate-tax
•IRS. (2023 , January 5). T of Estate with Charitable Beneficiary: Private Foundation Excise
T . I Revenue Service. Retrieved J 11, 2023, ://www. .gov/charit - -
/private- /treatment-of-estate-with-charitable-beneficiary-private-foundation-excise-ta
•IRS. (2023 , February 23). F A Questions on Estate T . I R Service.
R June 11, 2023, https://www. .gov/businesses/small- -self-employed/frequently-
-questions-on-estate-
•IRS. (2022 , October 26). E T . I R S . R May 7, 2023, from
://www. .gov/busine /small- -self-employed/estate-
•IRS. (2022 , October 27). F A Questions on Gift T . I R S . Retrieved
M 28, 2023, from https://www. .gov/busine /small- -self-employ /frequently-asked-
-on-gift-taxes
•R , A., E . (2013, March 1). Family Limited Partnerships & D . G D &
B , LLP. R J 11, 2023, https:// . . /family- - -
/
