Fantasy sports generally involve selecting team members and then earning points when the selected team players compete in real-world sports events – the players with the highest points win. Such games often require an entry fee and pay cash or
Rubin On Tax
Rubin On Tax, published by Gutter Chaves Josepher Rubin Forman Fleisher Miller P.A., focuses on federal and Florida tax law, estate planning, probate, and business legal matters. The blog covers tax legislation changes, such as modifications to gambling loss deductions and sales tax repeals on commercial leases, and discusses their practical impacts on individuals and businesses. It also addresses estate planning challenges, including capacity and ethical considerations for cognitively impaired clients, and analyzes relevant case law affecting tax penalties and compliance. The content is aimed at keeping readers informed about tax policy developments, legal strategies, and regulatory interpretations relevant to tax and estate planning practitioners and affected taxpayers.
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Applicable Federal Rates – November 2020
For the applicable federal rates for the above month, preceding months, and a data table that visually shows trends, click here! Direction of rates: mostly flat.
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Florida Irrevocable Trust Amendment Mechanisms
For many years, we have published a diagram that lists and provides information on the mechanisms under Florida law available to modify irrevocable trusts, both judicially and non-judicially. There have been 1000+ downloads of the diagram, attesting to the interest…
New Case on Loan vs. Gift
In a low-interest rate environment, loans by wealthy parents to children often makes sense from a planning perspective. If the recipient can invest the proceeds and earn more than the low interest rate charged, the net profit is effectively transferred…
Applicable Federal Rates – October 2020
For the applicable federal rates for the above month, preceding months, and a data table that visually shows trends, click here.
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Assignment of Homestead Insurance Proceeds Allowed
In a recent case, an owner of homestead property assigned post-loss insurance benefits to a third-party contractor. The insurance company challenged the assignment, asserting it was not allowed by Article X, section 4(c) of the Florida Constitution – apparently not…
GRANTOR TRUSTS OWNING AN ANNUITY
Applicable Federal Rates – August 2020
For the applicable federal rates for the above month, preceding months, and a data table that visually shows trends, click here.
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FBAR NON-WILLFUL PENALTY NOT CALCULATED BASED ON NUMBER OF ACCOUNTS
The FBAR rules require the filing of a FinCEN Report 114, Report of Foreign Bank and Financial Accounts (FBAR) to report for accounts of U.S. persons aggregating $10,000 or more. For a non-willful failure to disclose, the maximum penalty imposed
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Applicable Federal Rates – July 2020
For the applicable federal rates for the above month, preceding months, and a data table that visually shows trends, click here.
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