By Shaun Hunley There are no fewer than 130 new tax provisions in the Tax Cuts and Jobs Act, according to Shaun Hunley, a technical editor of PPC products for Thomson Reuters Checkpoint in the Tax & Accounting business of Thomson Reuters, but with tax practitioners starting to focus on helping clients address the act’s impact, he
Trustees of special needs trusts generally have wide discretion in determining whether to distribute funds to trust beneficiaries. But if the person with disabilities receives Supplemental Security Income (SSI), careful precautions should be taken before any trust funds are used to pay for housing costs. For the year 2018, federal guidelines set the maximum monthly SSI benefit at $750
A promissory note is normally given in return for a loan and it is simply a promise to repay the amount. Classifying asset transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility. Before Congress enacted the Deficit Reduction Act
By Adam Shell, USA Today For most working Americans, the savings vehicle of choice is a 401(k). But a flood of retirement savings dollars moving from these employer-sponsored plans to IRAs suggests that retirees or workers nearing the end of their careers favor individual retirement accounts when it's time to tap the cash they've amassed. Older Americans
