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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.
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Tutorials by Manizha u0026 Ryan
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Ecommerce TV by Nick
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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.
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Ride Along With Bri
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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.
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Sales Tax Sisters
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Kevin Hunter The Homework Guy
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Sam and Jack are back with another Boston Celtics podcast. In this one, they discuss the latest Kristaps Porzingis injury update ahead of the Eastern Conference finals, the New York Knicks vs. the Indiana Pacers, and the Celtics' player development coaching staff. Plus, they talk about the NBA Playoffs, the Cleveland Cavaliers, and Inside the NBA. Let us know your thoughts, and as always, thanks for listening to How 'Bout Them Celtics!<br/><br/>Podcast Twitter: @HowBoutThemCs<br/>Sam's Twitter: @SamLaFranceNBA<br/>Jack's Twitter: @JackSimoneNBA<br/><br/>0:00 Intro<br/>1:11 Kristaps Porzingis update<br/>7:29 Knicks-Pacers (Potential Celtics opponent)<br/>27:07 Coaches article<br/>31:43 Email check-in<br/>49:26 Wolves-Nuggets<br/>53:48 Mavs-Thunder<br/>55:59 Cavs are dead<br/>59:03 Inside the NBA question mark<br/>01:03:39 The Rat List<br/>01:17:20 Outro<br/><br/>#celtics #bostonceltics #celticsnews #celticsrumors #celticstraderumors #celticspodcast #celticspod #nbapodcast #nba #bostoncelticsnews #howboutthemceltics #neemiasqueta #alhorford #xaviertillman #jaysontatum #jaylenbrown #derrickwhite #kristapsporzingis #jrueholiday #samhauser #lukekornet #paytonpritchard #jadenspringer #oshaebrissett #svimykhailiuk #jddavison #jordanwalsh #joemazzulla #bradstevens #nbaplayoffs #celticsinjuryreport #kristapsporzingisinjury<br/><br/>Get in on the excitement with PrizePicks, America’s No. 1 Fantasy Sports App, where you can turn your hoops knowledge into serious cash. Download the app today and use code CLNS for a first deposit match up to $100! Pick more. Pick less. It’s that Easy! Go to https://PrizePicks.com/CLNS<br/><br/>Take the guesswork out of buying NBA tickets with Gametime. Download the Gametime app, create an account, and use code CLNS for $20 off your first purchase. Download Gametime today. Last minute tickets. Lowest Price. Guaranteed. Terms apply.<br/><br/>Elevate your style game on and off the course with the PXG Spring Summer 2024 collection. Head over to https://PXG.com/GARDENREPORT and save 10% on all apparel.<br/><br/>Nutrafol Men! Take the first step to visibly thicker, healthier hair. For a limited time, Nutrafol is offering our listeners ten dollars off your first month’s subscription and free shipping when you go to https://Nutrafol.com/MEN and enter the promo code GARDEN!<br/><br/>
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Andy Mai
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RockstarFlipper
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