Detail Facing A Hobson's Choice   Oleh:  Dondershine, Scott A. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 190 no. 3 (2000), page 57-64. Topik: choice; hobson's choice Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.11 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel It’s a situation almost every CPA will find familiar. Harry and Betty have combined taxable estates of $1,350,000, including a jointly owned residence valued at $300,000, Harry’s IRA valued at $675,000 (Betty is the designated beneficiary) and a jointly owned investment portfolio valued at $375,000. If Harry dies first, the IRA cannot be used to fund a bypass trust unless the trust - or Harry’s estate - is named as beneficiary. Since the couple can’t use a bypass trust, Betty’s taxable estate would be valued at up to $1,350,000. The resulting estate taxes could be as much as $270,750 (based on the unified credit amount available in 2000). If Harry did name his estate or a trust as his IRA beneficiary, the result could be significant adverse income tax consequences. Clients like Harry and Betty face a classic dilemma inherent in many estate plans. Their combined estates are large enough to require them to pay estate taxes, but each spouse has insufficient separate assets - other than retirement benefits - to fund a bypass trust that could minimize or eliminate the tax bill. What’s a client to do ? By understanding the relevant income and estate tax rules that apply to qualified retirement benefits and IRAs, CPA s will be better able to see the apparent Hobson’s choice their clients face and assess the available alternatives. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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