PUA and PEUC extended unemployment benefits set to begin this week | Dollars and Sense from was unemployment benefits extended Watch Video

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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
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Ferrari is looking forward to a memorable weekend in Miami, hosting several activities linked to the marque’s tradition and passion for innovation in this its seventieth year on the North American market. The Scuderia will be one of the stars of the show over the Floridian weekend and the cars will sport a special livery celebrating two colours from its past, Azzurro La Plata and Azzurro Dino. These shades of blue were part of daily life in Maranello for many years and are now coming back into play after an absence of around fifty years. The Miami weekend will also provide an amazing backdrop for HP’s debut as the team’s new title partner.<br/><br/>The biggest change is the recently announced arrival of HP as title partner for the coming seasons, so that as from this race, the team will be competing in the Grands Prix under the name of Scuderia Ferrari HP. The partnership extends globally beyond Formula 1 and on the racing side it also includes the car that Maya Weug races in Ferrari colours in the F1 Academy, the all-female driver series for the fastest women on the planet, including her Scuderia Ferrari Driver Academy colleague, Aurelia Nobels. In fact, the HP partnership also includes support for Maranello’s young driver programme, established in 2009, as well as its Esports team. The dominant colour of the new title partner’s logo is a perfect fit with the theme chosen by the Maranello marque for the week in Miami, namely the return of the two colours from the past, Azzurro La Plata and Azzurro Dino. For this weekend only, these tones will feature on the two SF-24s. The splashes of colour will be used on the wings, the engine cover, the halo, the rear-view mirrors, the race numbers and, in a nod to the past, on the wheel rims, as was the case back in the Sixties, starting with the 158 F1 with which John Surtees clinched the world championship title in North America, sixty years ago. The Miami livery also evokes memories of the single-seaters and sports cars entered by the American Ferrari importer, Luigi Chinetti, under the N.A.R.T. (North American Racing Team) banner, including the aforementioned blue and white 158 F1 driven by Surtees and red Ferraris with dark blue stripes. In fact, blue also featured on the various Ferraris entered in sports cars races in the Sixties by the British importer, Maranello Concessionaires.
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