Taxation & Estate Planning

LIKE-KIND EXCHANGE PERMITTED WITH PARTNERSHIP INTERESTS
Internal Revenue Code Section 1031 allows taxpayers to swap a business or investment property for a new business or investment property without recognizing gain on the exchange. However, these ?like-kind? exchange rules do not apply to exchanges of partnership interests (Code Section 1031(a)(2)(D))...

Fusu, the worlds first Domain Stock Exchange opens up to a wider audience; Announces strategic partnership with EuroDNS
DomainPulse.com Fusu ? The Domain Stock Exchange ? Announces Public Beta and Key Partnership With 140 million domains registered today and a market value that could reach $4 billion by 2010, the need for a dedicated platform where domain names...

Organ Trade Scandal in India
According to CNN.com, Amit Kumar has recently been accused of ?buying, coercing and outright stealing kidneys from poor Indians.? One of his alleged victims said that Kumar lured him into the house and drugged him...

Lack of Control and Marketability Discounts for Tiered Partnership Interests
Steve Akers (Bessemer Trust) wrote an analysis of the case of Astleford v. Commissioner. Here is his synopsis of the case: This gift tax case allows lack of control and marketability discounts for tiered partnership interests...

Gripshover v. Gripshover (Ky) Nonmarital Property, Estate Planning, Child Support, Section 179 Expense, Imputed Income
Gripshover v. Gripshover, __ S.W.3d __ (Ky. 2008), 2005-SC-000729-DG and 2006-SC-000256-DG Husband and his brother owned a farming operation, realty totaling over 600 acres, and a promissory note for more than a million dollars...

RECENT GIFT TAX FLP CASE
Family limited partnership cases typically involve the valuation of partnership interests for estate tax purposes. The same valuation principles are generally involved for gift tax purposes when the subject of a gift is a limited partnership interest...

Mutual Fund Losses
alleging financial advisors breached fiduciary duties by not looking out for investors best interests.