))
The Step-Transaction Doctrine and the Case of Smaldino
Manage episode 410148895 series 3486035
Contenu fourni par McGuireWoods. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par McGuireWoods ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift for tax purposes. These transfers might be especially important, given the possible “sunset” of current gift, estate and GST tax exemptions at the end of 2025.
However, the manner and timing of those transfers should be carefully structured so the transaction is respected. In some cases, the various steps of a transaction can be collapsed, so they are treated as a single transaction — with disastrous results. This episode reviews pitfalls for clients who seek to engage in this kind of planning, and considers the cautionary tale of Smaldino, a recent Tax Court case.
29 episodes
Partager
