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Texas Tax Talk

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Qualified Domestic Relations Orders: Little-Known Issues Involving Dividend Pass-Through Elections And Same-Sex Spouses

Posted in Uncategorized
Special thanks to guest author Jason Luter for this post. As most family law practitioners are aware, ERISA and the Internal Revenue Code (“IRC”) do not permit a participant in a retirement plan to assign or alienate his/her interest in that plan to another person.  These rules are intended to ensure that the participant’s retirement benefits are… Continue Reading

What You Need to Know About the IRS Shutdown

Posted in Uncategorized
It is big news right now that the US government is facing partial closure.  The partisan politics in Washington are going to affect most Americans whether they expect it or not.  My list of the tax implications to the shut down is: Approximately 90 percent of IRS employees are not at work today.  If you… Continue Reading

Basics of Stock Redemptions

Posted in Tax Planning, Uncategorized
Closely held corporations often have issues come up about succession planning and also about how to structure transactions in the most tax advantageous way possible.  Corporate redemption of a shareholders stock is always something to consider. Hypothetical  – Bob and Jim created an oil and gas services company back in the 1970s as 50-50 owners. … Continue Reading

Opportunity for Retroactive 2012 Gift from IRA to Charity: But You Must Act Before February 1, 2013

Posted in Tax Planning, Uncategorized
The American Taxpayer Relief Act of 2012 (“TRA 2012”), passed by Congress and signed into law by the President on January 2, 2013, prevents many of the tax hikes that were scheduled to go into effect in 2013 and avoids the “fiscal cliff”.  The TRA 2012 also retroactively extends the IRA Charitable Rollover which expired… Continue Reading