The Internal Revenue Code prescribes minimum imputed interest rates and time-value-of–money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly. These are commonly applicable rates in effect for August 2014: Short Term AFR…
Amendments made during the 2014 Legislative Session to the Florida Solicitation of Contributions Act (the “Act”), and which became effective July 1, 2014, increase the oversight and regulation of charitable organization, sponsors, professional fundraising consultants, and professional solicitors. The Act generally regulates certain persons and organizations conducting solicitation activities. Among…
A recent newspaper account presents evidence and concludes that a loophole in Florida’s real estate transfer documentary stamp tax deprives the state of substantial revenue it should collect. But the account reaches the conclusion without considering all the data. Why? The state collects this tax revenue in two ways, but…
The Internal Revenue Code prescribes minimum imputed interest rates and time-value-of–money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly. These are commonly applicable rates in effect for July 2014: Short Term AFR…
The Supreme Court of the United States has held that inherited IRA assets are not exempt from bankruptcy claims by an inheriting individual beneficiary’s creditors. In estate planning, the Supreme Court opinion may make it more desirable to name a trust as IRA death beneficiary, rather than naming an individual…