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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 👁 10M
TaxCycle
⏲ 16 minutes 11 seconds 👁 1.2K
Preet Banerjee
⏲ 2 minutes 57 seconds 👁 24.1K
Alvin Sta Ana: A visionary leader in the accounting industry<br/><br/>Alvin Sta Ana is not your average Certified Public Accountant (CPA). As the president of SIMPLY ACCOUNTING PH, Sta. Ana has established himself as a visionary leader in the accounting industry, with a strong focus on providing business solutions for MSMEs and entrepreneurs. His strong advocacy for tax compliance sets him apart in the industry. He is committed to helping people understand their tax obligations and navigate the complex world of taxation. Through SIMPLY ACCOUNTING PH and TAXMATE, Sta. Ana is making a positive impact on the business community and empowering individuals to take control of their finances.<br/><br/>Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe <br/><br/>Visit our website at https://www.manilatimes.net <br/><br/>Subscribe to Business Franchise Guru: https://www.youtube.com/@BusinessFranchiseGuru<br/> <br/>Follow us: <br/>Facebook - https://tmt.ph/facebook <br/>Instagram - https://tmt.ph/instagram <br/>Twitter - https://tmt.ph/twitter <br/>DailyMotion - https://tmt.ph/dailymotion <br/> <br/>Subscribe to our Digital Edition - https://tmt.ph/digital <br/> <br/>Check out our Podcasts: <br/>Spotify - https://tmt.ph/spotify <br/>Apple Podcasts - https://tmt.ph/applepodcasts <br/>Amazon Music - https://tmt.ph/amazonmusic <br/>Deezer: https://tmt.ph/deezer <br/>Stitcher: https://tmt.ph/stitcher<br/>Tune In: https://tmt.ph/tunein<br/> <br/>#TheManilaTimes <br/>#worldnews <br/>#philippines<br/>#entrepreneur
⏲ 44:25 👁 5.2M
PlanEasy
⏲ 7 minutes 59 seconds 👁 8.1K
Gabrielle Talks Money
⏲ 10 minutes 7 seconds 👁 14.2K
A single mum helped a couple have a child through surrogacy - which allowed her to buy her first ever home.<br/><br/>Teale Kelley, 27, was able to buy a house for her and her daughter Ella, 10, after earning £56,721 ($72,000) as a surrogate for a couple. <br/><br/>Teale used a surrogacy agency, which handled everything from the matching process to the intricate legal process.<br/><br/>In December 2023, she gave birth to a baby boy, and two months later, she was able to purchase her £401,300 ($500,000) four-bedroom home.<br/><br/>Teale always knew she wanted to be a surrogate and has always loved helping others.<br/><br/>Teale, a registered nurse in Denver, Colorado, USA, said: \
⏲ 5:9 👁 3.6M
Calm CFO
⏲ 17 minutes 22 seconds 👁 9.6K
Melanin Money
⏲ 9 minutes 36 seconds 👁 67.8K
An investigation has revealed that Nestle is selling baby products containing added sugar in India and other low and middle-income countries. However, the same products without sugar are sold in countries like Germany and the UK.<br/>
⏲ 1:51 👁 140K
The shocking loss of income and retirement savings that disproportionately affect divorced women is a big challenge – especially for those over 50.
⏲ 2:45 👁 895K
Credit: SWNS / Whitney Davis<br/><br/>A 'DINK' couple says they wouldn't change their childfree life - going on seven holidays a year and being \
⏲ 2:30 👁 240K
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