_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.jpg "IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed from verizon 2020 revenue Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 1:29
👁 View: 295K times
✓ Published: 01-Jun-2024
👁 View: 295K times
✓ Published: 01-Jun-2024
Description:
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.
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.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_verizon-has-a-lot-to-prove-in-2024.webp "Asymmetric Investing by Travis Hoium")
_eva-mendes-drops-hollywood-to-build-her-cleaning-empire-124-forbes.webp "Eva Mendes put Hollywood on hold a decade ago to raise a family with Ryan Gosling. Now the 50-year-old actress is reemerging as a cleaning-supplies entrepreneur, and dishes on why doing dishes is her happy place. <br/><br/>To get to this blissful place in her life—where she spends most evenings finding happiness over the kitchen sink in her Southern California home, where she lives with 43-year-old actor Ryan Gosling and their two daughters—took years of hard work, a gene she says she got from her Cuban immigrant mother. From the time Mendes was a little girl, her mom would explain that freedom is when you make your own money.<br/><br/>Since performing in her last movie, 2014’s “Lost River,” Mendes has become a mother, fashion designer, children’s book author and the co-owner of a successful home cleaning goods startup, Skura Style. After taking an ownership stake in 2022, Mendes has helped Skura—which was founded in 2017 by Linda Sawyer and Alison Matz—expand its marketing reach and has even dabbled in product design. Forbes estimates the business brought in $7 million in revenue last year and is on track for $20 million in 2024.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/lifestyle/<br/><br/>0:00 Introduction<br/>0:31 “Freedom is Making Your Own Money”<br/>1:59 Becoming an Actress<br/>3:13 Hollywood: Expectation vs. Reality<br/>5:14 Business Isn’t Personal<br/>6:10 Working With Ryan Gosling<br/>6:41 Eva’s Most Challenging Role<br/>8:10 Taking a Break from Hollywood<br/>10:08 Motherhood is Creativity<br/>11:19 Joining Skura Style<br/>14:01 The Female Founder Space<br/>15:44 What Makes Skura Style Special<br/>18:20 Eva’s Newest Role: Co-Owner<br/>19:26 Eva Mendes X Skura Style Collection<br/>22:00 What’s Next for Skura Style<br/>23:20 Eva’s Legacy<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_why-you-must-sell-verizon-vz-stock-after-earnings-report-124-vz-stock-analysis-124.webp "Dividend Talks")
⏲ 14 minutes 26 seconds 👁 2.1K
_the-most-anticipated-earnings-releases-for-the-week-of-june-3-2024.webp "Earnings Whispers")
_36900-passive-daily-learn-the-2-hour-workday-blueprint-for-beginners.webp "Michele ONeil")
⏲ 1 hour 50 minutes 41 seconds 👁 1.2K
_lorusso-in-the-midst-of-a-goldilocks-scenario-for-economic-data.webp "CNBC Television")
_work-out-how-to-calculate-sabah-revenue-share-says-salleh.webp "Salleh Said Keruak wonders if Putrajaya agrees with the formula stipulated in the Federal Constitution.<br/><br/><br/>Read More: <br/>https://www.freemalaysiatoday.com/category/nation/2024/06/01/work-out-how-to-calculate-sabah-revenue-share-says-salleh/<br/><br/>Laporan Lanjut: <br/>https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/06/01/rumuskan-mekanisme-kira-pemberian-khas-bagi-sabah-gesa-salleh/<br/><br/>Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.<br/><br/>Subscribe to our channel - http://bit.ly/2Qo08ry<br/>------------------------------------------------------------------------------------------------------------------------------------------------------<br/>Check us out at https://www.freemalaysiatoday.com<br/>Follow FMT on Facebook: https://bit.ly/49JJoo5<br/>Follow FMT on Dailymotion: https://bit.ly/2WGITHM<br/>Follow FMT on X: https://bit.ly/48zARSW <br/>Follow FMT on Instagram: https://bit.ly/48Cq76h<br/>Follow FMT on TikTok : https://bit.ly/3uKuQFp<br/>Follow FMT Berita on TikTok: https://bit.ly/48vpnQG <br/>Follow FMT Telegram - https://bit.ly/42VyzMX<br/>Follow FMT LinkedIn - https://bit.ly/42YytEb<br/>Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj<br/>Follow FMT on WhatsApp: https://bit.ly/49GMbxW <br/>------------------------------------------------------------------------------------------------------------------------------------------------------<br/>Download FMT News App:<br/>Google Play – http://bit.ly/2YSuV46<br/>App Store – https://apple.co/2HNH7gZ<br/>Huawei AppGallery - https://bit.ly/2D2OpNP<br/><br/>#FMTNews #Sabah #RevenueShare #Putrajaya #FormulaStipulated")
_gold-mining-stocks-analysis-barrick-gold-newmont-agnico-eagle-mines-kinross-b2gold-alamos.webp "Investing With Andrew")
⏲ 22 minutes 28 seconds 👁 497
_verizon-has-a-lot-to-prove-in-2024.jpg)
_eva-mendes-drops-hollywood-to-build-her-cleaning-empire-124-forbes.jpg)
_why-you-must-sell-verizon-vz-stock-after-earnings-report-124-vz-stock-analysis-124.jpg)
_the-most-anticipated-earnings-releases-for-the-week-of-june-3-2024.jpg)
_36900-passive-daily-learn-the-2-hour-workday-blueprint-for-beginners.jpg)
_lorusso-in-the-midst-of-a-goldilocks-scenario-for-economic-data.jpg)
_work-out-how-to-calculate-sabah-revenue-share-says-salleh.jpg)
_gold-mining-stocks-analysis-barrick-gold-newmont-agnico-eagle-mines-kinross-b2gold-alamos.jpg)
![[+]](/images/menu.gif){kind=small}