IRS To Collect Estate Tax From Beneficiary After More Than A Decade
If an estate is going to be taxable, it might not be such a bad thing to have all the assets concentrated, get the taxes and other debts and expenses paid and distribute the balance. Although it is not what is happening in this case, in principle, someone who receives property outside of probate might be tagged with a surprise estate tax assessment long after their windfall.
Rhode Island Not Giving Historic Credit For Journal Entries
The controller of the management company took pity on me and sat down and explained to me that all those various fees are “just names” for the money that the principals take. Any actual cash was flushed through an intercompany account and it was up to me to wield my mighty pencil and green analysis paper to make journal entries.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.