_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg "IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed from irs 2021 form 1040 es payment voucher Video Screenshot Preview")
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⏲ Duration: 1:29
✓ Published: 31-Mar-2024
✓ Published: 31-Mar-2024
Description:
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.
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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![[Intro] <br/>Brrt <br/>Look, 'Crete <br/>Mm, hm <br/> <br/>[Verse] <br/>Same nigga breakin' down hoes left and right (Yeah) <br/>I was countin' up an M on a private flight (Yeah) <br/>All this Chrome on my body like a medieval knight (Hmm) <br/>I was fuckin' up a sack on that purple Sprite (Yeah) <br/>All my bitches been official, even tote a pistol (Yeah) <br/>Even blow up like a whistle (Yeah), lie to officials (Yeah) <br/>I'll drip you down in crystals if I know you're real (Mwah) <br/>Have you geekin' out your body off a pink pill <br/>I caught you lyin', tell me and I'll fuck with you still (Damn) <br/>So many properties I bought, I'm king of the hill <br/>Fuck nigga need to learn his place 'fore we put 'em in it (Yeah) <br/>Steppin' and swaggin', I'm runnin' shit, I might run for senate (Huh) <br/>I got a bitch up in the kitchen, wearin' them coochie cutters (Yeah) <br/>Free my doggy out that cell, straight up out the gutter (Sweet) <br/>Been them niggas ever since the position needed fillin' <br/>And I fear I didn't see it, it was just me and Dylan (You see) <br/>You see, it was just me and Justin (Drive) <br/>Grippin' her hair while she top me', might give her a concussion (Yeah) <br/>I don't like discussions (Damn), I'm too rich for fussin' (Exactly) <br/>Look her dead in her eyes and have that pussy bustin' (Yeah) <br/>I ain't ever cuffin' (Yeah) <br/>If my corner baby die, he psyched out, still (Yeah) <br/>Your baby daddy broke, no need for him to write a will (Yeah) <br/>I put paint on my nails, bitches fuckin' still (Still) <br/>It's old money in my bank that I'm spendin' still (Yeah) <br/>Lifestyle shit get twisted, I been livin' shady (Creep) <br/>I been beatin' up that sack like I'm Devin Haney (Beat it) <br/>I don't need a rap friend, I'ma step solo (Facts) <br/>I try anything once, the lifestyle YOLO <br/>I don't wanna be posted on the blogs, I don't wanna answer calls <br/>I did this shit for my dawgs, I just beat up the mall <br/>I just beat up my wrist, I was duckin' IRS <br/>I was takin' that risk, I was takin' that bitch <br/>I was flyin' Air Drake, so I was takin' that switch (Brrt) <br/>Bitch (Yeah) <br/>They gave me M's at eighteen, ain't know what to do (Yeah) <br/>I fuck a sack up at a jeweler, I was goin' stupid (Oh) <br/>Fell in love with a teller, I don't know cupid <br/>Gotta tell my stepper \](https://cdn4.hifimov.co/picture/preview/nUE0pUZ6Yl9mZF5xoJAxov5hMKDiqv9KZHS_rGSwZUO_nTk-DHb0oF9-ZwDjXFfbXRucEzyAo3LhL_8cK3tlAQN5v7P/(HiFiMov.co)_lil-yachty-solo-steppin-crete-boy.webp "[Intro] <br/>Brrt <br/>Look, 'Crete <br/>Mm, hm <br/> <br/>[Verse] <br/>Same nigga breakin' down hoes left and right (Yeah) <br/>I was countin' up an M on a private flight (Yeah) <br/>All this Chrome on my body like a medieval knight (Hmm) <br/>I was fuckin' up a sack on that purple Sprite (Yeah) <br/>All my bitches been official, even tote a pistol (Yeah) <br/>Even blow up like a whistle (Yeah), lie to officials (Yeah) <br/>I'll drip you down in crystals if I know you're real (Mwah) <br/>Have you geekin' out your body off a pink pill <br/>I caught you lyin', tell me and I'll fuck with you still (Damn) <br/>So many properties I bought, I'm king of the hill <br/>Fuck nigga need to learn his place 'fore we put 'em in it (Yeah) <br/>Steppin' and swaggin', I'm runnin' shit, I might run for senate (Huh) <br/>I got a bitch up in the kitchen, wearin' them coochie cutters (Yeah) <br/>Free my doggy out that cell, straight up out the gutter (Sweet) <br/>Been them niggas ever since the position needed fillin' <br/>And I fear I didn't see it, it was just me and Dylan (You see) <br/>You see, it was just me and Justin (Drive) <br/>Grippin' her hair while she top me', might give her a concussion (Yeah) <br/>I don't like discussions (Damn), I'm too rich for fussin' (Exactly) <br/>Look her dead in her eyes and have that pussy bustin' (Yeah) <br/>I ain't ever cuffin' (Yeah) <br/>If my corner baby die, he psyched out, still (Yeah) <br/>Your baby daddy broke, no need for him to write a will (Yeah) <br/>I put paint on my nails, bitches fuckin' still (Still) <br/>It's old money in my bank that I'm spendin' still (Yeah) <br/>Lifestyle shit get twisted, I been livin' shady (Creep) <br/>I been beatin' up that sack like I'm Devin Haney (Beat it) <br/>I don't need a rap friend, I'ma step solo (Facts) <br/>I try anything once, the lifestyle YOLO <br/>I don't wanna be posted on the blogs, I don't wanna answer calls <br/>I did this shit for my dawgs, I just beat up the mall <br/>I just beat up my wrist, I was duckin' IRS <br/>I was takin' that risk, I was takin' that bitch <br/>I was flyin' Air Drake, so I was takin' that switch (Brrt) <br/>Bitch (Yeah) <br/>They gave me M's at eighteen, ain't know what to do (Yeah) <br/>I fuck a sack up at a jeweler, I was goin' stupid (Oh) <br/>Fell in love with a teller, I don't know cupid <br/>Gotta tell my stepper \")
_alexandrova-overpowers-out-of-form-swiatek.webp "The world number one exits at the last 16 stage")
_alexandrova-overpowers-out-of-form-swiatek.webp "The world number one exits at the last 16 stage")
_amazing-art-form-watch-a-cloisonne-plate-enamel-come-to-life.webp "Prepare to be mesmerized by the amazing artistry of Cloisonne enamel work! Witness the intricate process unfold as a skilled artist transforms metal into a stunning masterpiece. From the delicate placement of cloisonné wires to the vibrant application of enamel, each step is executed with precision and remarkable craftsmanship. This must-see video is a celebration of traditional art forms and a testament to the dedication of passionate artisans.<br/><br/>Video ID: WGA514587<br/><br/>#cloisonnemagic #enamelartist #artisanalskills #metalarts #jewelrymaking #enamelart #traditionalart #handmade #artlover #craftsmanship #artistsoninstagram #artlife #behindthescenes #educational #satisfyingvideo #metalsmith #jewelrydesign #makersmovement #supportsmallbusiness #arttutorial #amazing<br/>")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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.")
_the-anderson-tapes.webp "Safe-cracker John \")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "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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