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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.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 12.8M

Strohmeyer Law PLLC

What are the steps for filing a decedent's estate income tax return?

⏲ 5 minutes 50 seconds 👁 3.6K

Intuit TurboTax

Tax Benefits for Federally Declared Disasters - Presented by TheStreet + TurboTax

⏲ 3 minutes 36 seconds 👁 376

John Swinney acceptance speech<br/><br/>What are the key challenges facing John Swinney as First Minister and SNP leader?<br/>Mr Swinney was confirmed as the new leader of the SNP on Monday<br/><br/>John Swinney will not have his troubles to seek. The new SNP leader, who will become Scotland’s seventh first minister this week, inherits a number of problems both in his party and in the country at large. He will be all too aware of the difficulties ahead.<br/><br/>His predecessor, Humza Yousaf, never really managed to get on the front foot. Within days of him taking office last year, the police investigation into the SNP’s funding and finances exploded into the headlines. It has haunted the party ever since.<br/><br/>Mr Swinney will seek to heal internal divisions and boost his party’s fortunes in the polls ahead of an expected general election later this year. He has also emphasised the importance of economic growth. So what are the key challenges he faces?<br/><br/>A clear vision<br/>Mr Swinney will want to set out a clear strategic direction for his party. This is something his predecessor arguably struggled to do. Mr Yousaf hiked income tax for higher earners at the same time as freezing council tax, which some saw as sending a muddled message.<br/><br/>“Is this a guy who has demonstrated clear strategic direction?\

John Swinney acceptance speech

⏲ 11:21 👁 17.8M

Accounting Instruction, Help, u0026 How To

IRS Tax Tip- Understanding what happens after a disaster that leads to taxpayer relief

⏲ 8 minutes 1 second 👁 500

Teach Me! Personal Finance

IRS Form 4684 walkthrough (Casualty & Theft Losses)

⏲ 50 minutes 33 seconds 👁 2K

Spring is a time for budding flowers, tender green leaves and baby animals. But 66 million years ago, that gentle season instead brought mass death and carnage from Earth's catastrophic impact with a massive space rock. Scientists recently pinpointed the season of the disaster and linked it to springtime in the Northern Hemisphere, after analyzing fossilized animals that died minutes after the impact at a site called Tanis, where a river once flowed through what is now North Dakota.

North Dakota Fossil Site Reveals When Asteroid Killed Dinosaurs

⏲ 2:24 👁 1.6M

RogueNewz

New Tax Relief for Disaster Victims:Understanding the Federal Disaster Tax Relief Act

⏲ 2 minutes 14 seconds 👁 31

Tax Goddess - Top 1% Tax Strategist in USA

What is Disaster Tax Relief | Tax Extension 2022

⏲ 2 minutes 42 seconds 👁 299

This skilled baker tried to craft a robust-shaped cake topped with glistening jelly.<br/><br/>As she spread the jelly over the cake, it began to drip down the sides like a sweet waterfall.<br/><br/>However, she tried her best to maintain neatness.<br/><br/>Undeterred, she added a sprinkle before placing the cake in the refrigerator to set.<br/><br/>However, disaster struck when the warm jelly met the cool cake inside the refrigerator.<br/><br/>The heat caused parts of the cake to melt, and soon, the jelly overflowed, creating a gooey mess.<br/>Location: Stockport, United Kingdom <br/>WooGlobe Ref : WGA262409<br/>For licensing and to use this video, please email licensing@wooglobe.com

Baker's quest for the perfect jelly-topped cake ends in meltdown

⏲ 1:9 👁 4.5M

Jason D. Knott

IRS Form 4684 - How to Deduct Property Damage Losses from a Hurricane

⏲ 6 minutes 6 seconds 👁 3.7K

TaxSlayer Pro

2018 Tax Relief for Casualties and Disasters

⏲ 47 minutes 35 seconds 👁 1.3K

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