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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 👁 13.1M

Calvin Gooding - Vincy Things Plus

How to Check if Your Vehicle is Taxed on-line

⏲ 1 minute 42 seconds 👁 161

Rapid Car Check

Car Tax Checker (Check Vehicle Road Tax Status Instantly By Reg) Rapid Car Check

⏲ 1 minute 57 seconds 👁 98

John Swinney acceptance speech<br/><br/>What are the key challenges facing John Swinney as First Minister and SNP leader?<br/>Mr Swinney was confirmed as the new leader of the SNP on Monday<br/><br/>John Swinney will not have his troubles to seek. The new SNP leader, who will become Scotland’s seventh first minister this week, inherits a number of problems both in his party and in the country at large. He will be all too aware of the difficulties ahead.<br/><br/>His predecessor, Humza Yousaf, never really managed to get on the front foot. Within days of him taking office last year, the police investigation into the SNP’s funding and finances exploded into the headlines. It has haunted the party ever since.<br/><br/>Mr Swinney will seek to heal internal divisions and boost his party’s fortunes in the polls ahead of an expected general election later this year. He has also emphasised the importance of economic growth. So what are the key challenges he faces?<br/><br/>A clear vision<br/>Mr Swinney will want to set out a clear strategic direction for his party. This is something his predecessor arguably struggled to do. Mr Yousaf hiked income tax for higher earners at the same time as freezing council tax, which some saw as sending a muddled message.<br/><br/>“Is this a guy who has demonstrated clear strategic direction?\

John Swinney acceptance speech

⏲ 11:21 👁 18.4M

Lease Lowdown

Road Tax Changes Explained | April 1st 2017 Onward | LeaseLowdown Vlogs

⏲ 9 minutes 👁 8.9K

Car Titles

Sales Tax on a Vehicle Transfer

⏲ 1 minute 28 seconds 👁 10.9K

Use our guide to decide which assets belong in a taxable account and which go into a tax-advantaged account.

What Is A Taxable Or Tax-Deferred Account?

⏲ 1:59 👁 9.7M

Rashik Tech

How To Check Road Tax Online | road tax kaise check kare | vehicle tax check online

⏲ 3 minutes 40 seconds 👁 18.5K

It's NEW CAR DAY! the BIG rEVeal! Collecting a BRAND NEW ELECTRIC CAR!

⏲ 20 minutes 59 seconds 👁 24.3K

During a House Ways and Means Committee hearing on Tuesday, Rep. Jason Smith (R-MO) spoke about the expiration of child tax credits in the 2017 Tax Cuts and Jobs Act.<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

'The President Has No Plan': Jason Smith Grills Janet Yellen On Allowing TCJA Tax Credits To Expire

⏲ 9:41 👁 16.2M

RyanTwomey

1500 Mile Solo, American Southwest Roadtrip | Vanlife (Full Trip)

⏲ 4 hours 42 minutes 10 seconds 👁 27.9K

CheapRVliving

Affordable Nomad Life: Solo Woman's Roadtrek Class B Van Tour

⏲ 26 minutes 5 seconds 👁 739.9K

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