by Three60 Law Group | Dec 29, 2023 | Taxes
The Corporate Transparency Act (“CTA”) is a new reporting law that goes into effect on January 1, 2024. The intent of the CTA is to combat the use of the US financial system for money laundering and other illicit activities. The law requires covered business entities...
by Three60 Law Group | Feb 17, 2022 | Estate Planning, Taxes, Trusts
Charitable Remainder Trust (“CRT”) Summary Overview of a CRT. • A CRT is a general term for a class of irrevocable trusts that initially benefit noncharitable beneficiaries with the remaining assets passing to charity at the expiration of the trust term.• The...
by Three60 Law Group | Oct 6, 2021 | Charity Chat, Taxes
Time is running out to take advantage of the 100% charitable income tax deduction for gifts of cash to certain public charities. This 100% AGI deduction ends at the end of 2021. The chart below details the annual AGI limit for charitable income...
by Three60 Law Group | Jul 2, 2020 | Taxes
You may have heard some buzz recently about Grantor Retained Annuity Trusts (GRATs). As an estate planning strategy, GRATs work well in the current low interest-rate environment. They work especially well now that we have depressed values for certain asset classes. ...
by Three60 Law Group | Apr 8, 2020 | Taxes
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed into law on March 27, 2020, provides critical relief for many individuals and businesses. Additionally, state and local governments have responded in providing tax relief as...
