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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.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

⏲ 1:29 👁 7.4M

Jazz Wealth Managers

The IRS Changed Inherited IRA Rules (Do Not Mess This Up)

⏲ 5 minutes 43 seconds 👁 10.1K

See the Forest Through the Trees

7 Rules for An Inherited IRA | Personal Finance Tips

⏲ 5 minutes 35 seconds 👁 3.2K

Stern action will be taken against retailers, distributors and importers dealing in products with labels that discriminate against palm oil products, says Datuk Seri Johari Abdul Ghani.<br/><br/>The Plantation Industries and Commodities Minister told a press conference on Friday (May 3) that those responsible could be fined up to RM250,000 under the Trade Descriptions (Prohibition of Use of Statement, Expression or Indication) (Oil Palm Product and Palm Oil Goods) Regulations 2022.<br/><br/>Johari also said his ministry has requested the cooperation of the Customs Department to be stricter and more thorough in inspecting products entering the country in relation to the boycott labeling of palm oil products.<br/><br/>Read more at https://tinyurl.com/yxnh42s5<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

Stern action against those dissing palm oil, warns minister

⏲ 5:39 👁 3.7M

Eric W. Powell

Inherited IRA Rules and Tax Strategy

⏲ 5 minutes 10 seconds 👁 15.3K

Michael Ruger - Greenbush Financial Group

How Do Inherited IRA's Work For Non-Spouse Beneficiaries - New Rules

⏲ 11 minutes 58 seconds 👁 22.7K

At a Senate Appropriations Committee hearing on Thursday, Sen. Cindy Hyde-Smith (R-MS) spoke to Sec. Pete Buttigieg about the budget request for the Department of Transportation. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

'I'm Once Again Disappointed': GOP Senator Lambasts Buttigieg Over His Department's Budget Request

⏲ 7:11 👁 2M

Think Retirement

Understanding The Latest Rules for Inherited IRAs

⏲ 12 minutes 37 seconds 👁 5.3K

Equity Trust Company

Beneficiary IRAs: What to Know

⏲ 17 minutes 38 seconds 👁 2.7K

Violent clashes erupted at the University of California in Los Angeles (UCLA) on Wednesday between pro-Palestinian protesters and a group of counter-demonstrators, as reported by live video coverage from a U.S. broadcaster. The UCLA student newspaper, Daily Bruin, detailed that supporters of Israel attempted to dismantle a pro-Palestinian protest encampment on the campus. Police were called to the scene following a request for support from UCLA Chancellor Gene Block, according to Zach Seidl, Los Angeles Deputy Mayor of Communications, as reported by X. <br/> <br/> <br/>#USProtests #UCLAProtest #CounterProtest #ProPalestinian #UCLAClash #ColumbiaUniversity #GazaConflict #FreeSpeechDebate #CampusTensions #IsraelPalestine #StudentActivism #PeacefulProtest #TensionsOnCampus #SocialJustice #CampusClash<br/>~HT.178~PR.152~ED.155~GR.124~

U.S: Pro-Palestinian supporters and counter-protesters clash on UCLA campus over Gaza | Oneindia

⏲ 3:18 👁 4M

Wise Money Show

Dividing an Inherited IRA Between Two Beneficiaries

⏲ 9 minutes 56 seconds 👁 2.5K

America's Estate Planning Lawyers

A Method To Help Families Minimize Taxes on IRAs

⏲ 18 minutes 55 seconds 👁 69.2K

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