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During a House Ways and Means Committee hearing Tuesday, Rep. Drew Ferguson (R-GA) spoke about tax credits.<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
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Tax guide nilesh
⏲ 4 minutes 23 seconds 👁 10.1K
Live Free
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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.
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CA Puneet Jain
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EA Tax Resolutions
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Tax credits for energy-efficient home improvements are extended and expanded by the Inflation Reduction Act.
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My CA
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CA Puneet Jain
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A millennial boss lets her employees make their own schedule, wear what they want and treats them to private yacht trips. <br/><br/>Maddy Birdcage, 34, switched up how she ran her business after her company faced an $100,000 AUD tax debt she blames on her own micro-managing.<br/><br/>The mum-of-two fired half her employees and started from scratch again - hiring self-motivated problem solvers, she said.<br/><br/>She lets her team of nine bring their kids into the office during school holidays, set their own schedules and work from home when they need to.<br/><br/>Maddy also feels it it important to treat her staff and is planning to take them on a $40k AUD overnight yacht trip when they all hit a team goal.<br/><br/>The owner of marketing agency, Birdcage Marketing, says since making the changes her employees are \
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MyOnlineCA
⏲ 6 minutes 7 seconds 👁 31.7K
Sandeep Kumar LLB
⏲ 6 minutes 20 seconds 👁 413
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