Estate Tax Exemptions
Don’t let your spouse’s estate tax exemption die with them! No estate tax return is due for estates below the soon to be reduced $5 million tax exemption threshhold. Without filing a return, however, a married couple can lose the benefit of the excess exemption, because it does not automatically carry over to the surviving spouse. And even that will [...]
Read More →Society of Trust & Estates Practitioners Conference
Society of Trust & Estates Practitioners, First Annual Latin America Conference, Panama Arista Law is proud to have sponsored this event combining private bankers, trust officers and trust & estate attorneys from throughout Latin America and beyond. For a related presentation on Tax & Legal Issues for Foreigners & Potential Residents, please click here.
Read More →30,000 Taxpayers Voluntarily Disclose Offshore Assets
The IRS just reported that the 30,000 taxpayers who voluntarily disclosed their offshore assets have provided a wealth of information on various banks and advisors assisting people with offshore tax evasion. “We have pierced international bank secrecy laws, and we are making a serious dent in offshore tax evasion.” “But just as importantly, we have changed the risk calculus. Americans [...]
Read More →Paying for Grandchildren’s Educational Expenses
Paying for a grandchild’s educational expenses can be a very tax-efficient and asset-protected way to transfer wealth that would otherwise be subject to estate tax, plus an additional generation skipping tax. You can give $65k ($130k if married) to a 529 plan every five years, and you can give an unlimited amount if paid directly to a qualified educational institution. [...]
Read More →Offshore Tax Amnesty Deadline Extended
Offshore tax amnesty deadline extended to Sep 9 thanks to Irene.
Read More →Most Outstanding Professor
Thank you to all my tax masters students for voting me “Most Outstanding Professor” for the second year in a row!
Read More →Is Your Child a Tax Cheat?
I was quoted in the article “Is your child a tax cheat?” on Wall Street Journal’s MarketWatch. ”One tax specialist in these areas, Eduardo R. Arista, a certified public accountant and attorney in Coral Gables, Fla., said that although he has dealt with several FBAR cases, he has yet to see a case involving a minor child. Arista points out [...]
Read More →Just Started Helping Another Green Card Holder…
Just started helping another green card holder who thought he didn’t have to pay taxes just because he was living abroad. The 2011 tax amnesty expires in just a few months…
Read More →HSBC Foreign Account Holder Data Stolen by Whistleblower
HSBC just announced that data from as many as 24,000 clients was stolen by a former employee who, according to the Wall Street Journal, defended his actions saying that he “felt a civic duty to highlight the bank’s role in alleged tax evasion through offshore accounts.” It is quite possible the this information has or will be obtained and used [...]
Read More →