The Tax Lawyer Blog: Topical thinking from the lawyers at Moskowitz, LLP

Captive Insurance Companies, Part III: Benefits and Risks

Posted on September 19, 2019January 7, 2020 by Raquel Lazar-Paley Posted in Business Law, Estate Planning & Taxation, International Taxation, Tax Planning & Compliance

Previous Posts in this Series Part I: What is a Captive Insurance Company? Part II: Types of Captives Captive insurance companies provide businesses with savings opportunities, tax benefits, and greater flexibility in managing insurance needs. However, they are subject to pricing fluctuations, require significant capital, and pose some administrative challenges,...

Captive Insurance Companies, Part II: Types of Captives

Posted on September 17, 2019January 7, 2020 by Raquel Lazar-Paley Posted in Business Law, Estate Planning & Taxation, International Taxation, Tax Planning & Compliance

Previous Posts in this Series Part I: What is a Captive Insurance Company? Captive insurance companies were created to enable corporations to establish subsidiaries that can insure the company’s own risks. The captive insurance industry has developed over the years and now includes a variety of forms and group structures....

Captive Insurance, Part I: What is a Captive Insurance Company?

Posted on September 12, 2019January 7, 2020 by Raquel Lazar-Paley Posted in Business Law, Estate Planning & Taxation, International Taxation, Tax Planning & Compliance

Captive insurance companies were originally established to help businesses cover risks otherwise difficult to secure. They have expanded to include nearly every type of insurance. To protect themselves from certain risks, many businesses have formed subsidiary companies that provide them with insurance and risk-management services. Captive insurance companies are a...

What Does the IRS Include in Your Estate?

Posted on September 10, 2019August 26, 2019 by Raquel Lazar-Paley Posted in Estate Planning & Taxation

The estate tax is the tax imposed on the amount of your gross estate at your death that exceeds the federal exemption amount (currently $11.4 million), minus deductions. Here is what the IRS includes in its calculation of your “gross estate”. One of the first things your estate planning attorney...

The Federal Estate Tax Exemption

Posted on September 5, 2019August 26, 2019 by Raquel Lazar-Paley Posted in Estate Planning & Taxation

The federal estate tax is a tax on the transfer of wealth, and the tax rate can reach up to 40%. These taxes can be minimized or even avoid entirely through proper estate planning, thereby saving your heirs a significant amount of money. Throughout history, estate and inheritance taxes have...

Dual Status Aliens – Part II: Tax Deductions, Exemptions and Credits

Posted on September 3, 2019January 7, 2020 by Raquel Lazar-Paley Posted in International Taxation, Tax Planning & Compliance

Dual Status Aliens are entitled to certain tax deductions, exemptions, and credits. As we noted in Part I, if you are a Dual Status Alien, you must pay taxes on your worldwide income for the part of the year that you are a resident alien and on your U.S. income...

Dual Status Aliens – Part I: Residency

Posted on August 29, 2019January 7, 2020 by Raquel Lazar-Paley Posted in International Taxation, Tax Planning & Compliance

For U.S. taxpayers arriving or departing the country, your tax status can have a significant impact on your year-end tax bill. The U.S. is notorious for being one of the only countries in the world that taxes its citizens and permanent residents on their worldwide income. If you are a...

Government Use of Marijuana Tax Revenue

Posted on August 27, 2019January 7, 2020 by Raquel Lazar-Paley Posted in Cannabis Practice Group

Tax revenue collected from legal sales of cannabis in California may have fallen short of projected amounts, but it nonetheless is being used to support the homeless, needy families, low-income entrepreneurs, and to fund scholarships. The passage of Proposition 64 (the Adult Use of Marijuana Act or AUMA) in 2016...

Revocable Living Trusts, Part III: Funding Your Revocable Living Trust

Posted on August 22, 2019August 26, 2019 by Raquel Lazar-Paley Posted in Estate Planning & Taxation, Uncategorized

Other Posts in this Series Part I: The Elements of a Revocable Living Trust Part II: Why Set Up a Revocable Living Trust? A revocable living trust can provide many benefits, but not if you don’t fund it. In our previous post, we explained how a revocable living trust is...

Revocable Living Trusts, Part II: Why Set Up a Revocable Living Trust?

Posted on August 20, 2019August 26, 2019 by Raquel Lazar-Paley Posted in Estate Planning & Taxation

Other Posts in this Series Part I: The Elements of a Revocable Living Trust Part III: Funding Your Revocable Living Trust Revocable living trusts provide numerous benefits for California residents. This estate planning tool, which provides for a faster, less expensive, and more private estate administration, should be considered by...

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