A plain-English guide to the U.S. generation-skipping transfer tax: the flat top-rate (~40%) charge on transfers to skip persons, the GST exemption and its 2026 sunset context, direct skips versus taxable terminations and distributions, dynasty trusts, exemption allocation, and the mistakes that quietly wreck a plan.
A practical CPA-level guide to oil and gas drilling tax deductions for high-income US investors. Covers the 100% current expensing election for intangible drilling costs (IDC) versus 60-month amortization, depreciation of tangible drilling equipment, cost versus percentage depletion, working interest versus royalty interest, the passive activity loss exception under Section 469(c)(3), AMT interaction, and why the investment risk outweighs the tax break.
A Qualified Opportunity Fund (QOF) lets you defer tax on reinvested capital gains and, after a 10-year hold, exclude the fund's own appreciation from tax. This educational guide covers the 180-day rule, qualifying assets, real estate vs business deals, liquidity risk, and how QOFs compare to a 1031 exchange.
A practitioner's guide to captive insurance formation: the 2026 $2.9M premium cap, Drake Plastics ruling impact, domicile comparison, and how to avoid IRS listed-transaction exposure.