Archive | Asset Protection

US Tax Planning for High Net Worth Investors​

March 28, 2017  |   Posted by :   |   Asset Protection,High Net Worth Investor,International Tax Planning   |   0 Comments

Helvering v. Gregory In the landmark case, Helvering v. Gregory 69 F.2d 809, 810 (2d. Circuit Court of Appeals, 1934), reversed a decision of The Board Of Tax Appeals (precursor to US Tax Court) see: Gregory v. Commr. 27 B.T.A. 223 (1932), and found against the taxpayer (Mrs. Gregory); Hand’s decision was affirmed by the […]

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Tax Planning for US Investors – Doubling Net Return on Investment

February 02, 2017  |   Posted by :   |   Asset Protection,International Tax Planning   |   0 Comments

By David E. Richardson and Gary S. Wolfe US investors (incl. US resident citizens, Green Card holders or income tax residents under the substantial presence test and any US citizen located abroad) face significant US Income, Estate and Gift tax issues on their investment portfolios namely: 1) Imposition of Federal and State (e.g. CA) “blended […]

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IRS & Asset Protection: DOs & DON’Ts

September 12, 2016  |   Posted by :   |   Asset Protection   |   0 Comments

The IRS has assessed a tax, filed tax lien(s) and the tax, penalty and interest accumulates (with compounding the balance may double & then triple). Is the taxpayer helpless? NO. Time to plan to resolve the matter. In tandem with the below suggestions consider submitting an IRS offer in compromise for the balance due based […]

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Asset Protection and California Fraudulent Conveyances

September 08, 2016  |   Posted by :   |   Asset Protection   |   0 Comments

In California, Debtors who seek to avoid paying creditors may run afoul of the California Fraudulent Conveyance laws and risk both civil and criminal penalties. Civil In California Civil Code Section 3439 governs transfers to defraud creditors. Under the case, Yaesu Electronics Corp v. Tamura (1994) 28 Cal. App. 4th 8, 13 ” a fraudulent […]

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IRS Tax Audits: Protecting Assets Against IRS Seizure

May 25, 2016  |   Posted by :   |   Asset Protection   |   1 Comment

For US taxpayers who are under an IRS tax audit, asset protection is a real concern since they are subject to immediate asset seizures under IRS jeopardy assessments (if the IRS determines that collection is at risk). If they lose the audit and do not appeal may have tax liens filed against them which subjects […]

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Asset Protection 2015: CA Community Property

October 01, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

Recently, after many years of research I have published my 2d book on asset protection, Asset Protection 2015: IRS Tax Audits & Lawsuits. A specialized issue for community property includes the community liability for separate property debts of either spouse. These separate property debts may include those debts arising pre-marriage or during marriage. It may […]

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IRS: Jeopardy Assessment

September 24, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

In our recently published book, Asset Protection 2015: IRS Tax Audits & Lawsuits by Gary S. Wolfe, Esq., Alan Jampol, Esq, and Steven Piascik, CPA/MT, one chapter that we feel is extremely relevant to today’s economic environment is IRS: Jeopardy Assessment (i.e. pre-audit asset seizures). As a courtesy to my subscribers I am offering this […]

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Asset Protection – The Nature and Risks of Litigation

September 17, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

In our recently published book, Asset Protection 2015: IRS Tax Audits & Lawsuits by Gary S. Wolfe, Esq., Alan Jampol, Esq, and Steven Piascik, CPA/MT, our co-author Alan Jampol, Esq., an internationally acclaimed trial attorney who has successfully resolved billion dollar litigation, wrote an extensive chapter on lawsuits entitled: The Nature and Risks of Litigation. […]

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Asset Protection 2015: IRS Tax Audits & Lawsuits

September 03, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

I am please to announce the publication of my 13th book, Asset Protection 2015: IRS Tax Audits & Lawsuits. In Asset Protection 2015 our focus is on the two biggest risks to high net worth investors: IRS tax audits and lawsuits. In both arenas one could lose everything. Consider Kim Basinger, international movie star, who […]

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Asset Recovery 2015: Trends

August 29, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

WhosWhoLegal.com For this fourth edition, and with the benefit of years of research and thousands of votes from clients and private practitioners, Who’s Who Legal takes a closer look at developing trends in the global asset recovery market. According to our sources the variety of litigation in this sphere has expanded in the past 12 […]

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