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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
⏲ 1:29 👁 9.6M
ClearValue Tax
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The New York Times
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Former President Donald Trump was ordered by a London court to pay Orbis Business Intelligence, founded by ex-British spy Christopher Steele, significant legal fees in a lawsuit Trump filed alleging defamation over the Steele dossier's claims. The judge dismissed Trump's case, ruling the dossier's claims were not defamatory, and ordered him to cover Orbis's legal costs, adding to Trump's mounting legal challenges. <br/> <br/>#DonaldTrump #StellarDossier #TrumpLegal #LondonCourt #donaldtrumpdossier #donaldtrumpdossierand #donaldtrumpdossierandrew #Intelligence #ChristopherSteele #Oneindia #Oneindianews <br/>~ED.194~
⏲ 2:12 👁 265K
UI Vlogs 2021
⏲ 5 minutes 20 seconds 👁 1.6K
The Economic Ninja
⏲ 5 minutes 52 seconds 👁 8.1K
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
⏲ 1:29 👁 6.4M
CBS News
⏲ 4 minutes 16 seconds 👁 24.3K
Good Mythical Morning
⏲ 21 minutes 52 seconds 👁 362.1K
Army Employee Steals $108 Million! Shocking Fraud Scandal Exposed <br/> @TheFposte<br/>____________<br/><br/>Subscribe to the Fposte YouTube channel now: https://www.youtube.com/@TheFposte<br/><br/>For more Fposte content:<br/><br/>TikTok: https://www.tiktok.com/@thefposte_<br/>Instagram: https://www.instagram.com/thefposte/<br/><br/>#thefposte #usa #army #scandal #million #fraud
⏲ 1:19 ✓ 05-Mar-2024
Solidarity
⏲ 24 minutes 58 seconds 👁 21.3K
Stimulus Updates
⏲ 8 minutes 31 seconds 👁 951
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