Income Tax

A New Planning Opportunity with Charitable Remainder Trusts

Charitable remainder trusts (“CRTs”) are split interests trusts, with the taxpayer retaining an income interest and charity receiving the remainder.  The CRT often is used to defer gain on the sale of highly appreciated property.  The taxpayer receives an income deduction for the value of the remainder interest going to charity and defers the capital […]

A New Planning Opportunity with Charitable Remainder Trusts Read More »

Exiting an S Corporation is a Sticky Wicket

I generally don’t recommend structuring a business as an S corporation.  Unlike LLCs and partnerships, the S corporation rules (i) restrict the number and type of owner, (ii) provide no flexibility in allocating income and loss, (iii) do not allow a step up of the assets at death of the shareholder and (iv) unlike other

Exiting an S Corporation is a Sticky Wicket Read More »