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Sunday December 15, 2019

Advisor Resources
Advisor Resources
We have a complete tax update service for CPAs, attorneys, CLUs, CFPs, ChFCs, trust officers and other professional friends. The GiftLaw services are made available to all advisors as a free service. We are available to assist in helping you provide clients with clear and understandable gift illustrations.
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Washington News
IRA Required Minimum Distributions By December 31
In IR-2019-203, the Service reminded taxpayers born before July 1, 1949 that they should take a required minimum distribution (RMD) by December 31. The one exception is for IRA owners who turned age 70½ in 2019. These individuals may delay their first RMD until April 1, 2020. However, if they delay the first RMD, they will also need to take a second RMD by December 31, 2020. RMDs are required for most qualified retirement plans. They apply to three types of IRAs. These are Individual Retirement Arrangements, Simplified Employee Pension (SEP) IRAs and Savings Match Plans for Employees (SIMPLE) IRAs. The RMDs also apply to 401(k), 403(b) and 457(b) plans. An exception to the RMD withdrawal requirement is a...
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GiftLaw Pro
Charitable Tax Reference
GiftLaw Pro is a complete charitable giving and tax information service inside the GiftLaw website...
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Deduction Calculator
Deduction Calculator
The GiftLaw Calculator is a planned gifts calculator for professionals that follows the IRS format. Click here to access and run charitable deduction calculations for your favorite gift plan...
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Case of the Week
Lucky Lucy Lindstrom finished college and headed west. She started as a financial analyst with a large company in Seattle. After just four years, she became a Registered Investment Advisor (RIA) and...
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Private Letter Ruling
Decedent created Trust, a revocable trust, on Date 1. Trust provides that, upon death of Decedent, the residue of the estate would be administered as a unitrust for the benefit of Decedent's six...
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Article of the Month
The Internal Revenue Service requires donors who claim charitable income tax deductions to substantiate the value of their charitable contributions. Charitable gifts of noncash assets valued in excess...
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