• Skip to main content
  • Skip to the end
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • 2021 Year-End Tax Planning Guide
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 and Tax Updates
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
ASL
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • 2021 Year-End Tax Planning Guide
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 and Tax Updates
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
Search | Menu
July 15, 2021

The Art of Estate Planning

An art collection is a special asset to account for in an estate plan.

It goes without saying that your art collection, including paintings, sculptures, and other pieces of art, can represent a significant portion of your estate. Thus, it’s critical to account for these assets in your estate plan.

While you can apply many traditional estate planning strategies to an art collection, this asset type can present unique challenges. Of course, you’ll want to preserve the value of your collection and avoid unnecessary taxes but knowing how your collection will be managed and displayed after your death may also be of importance. (more…)

Share Article
Print
Categories: Family Wealth & Individual Tax Planning, Summer 2021
Tags: Art Collection, estate planning, Gifting Strategy,
November 16, 2017

2017 Gifting and Gift Tax Returns

By Jackie Phan, CPA, Tax Manager
ASL Family Wealth & Individual Tax Group

The season of giving is almost upon us, but will generosity to friends and family trigger a gift tax return filing requirement? The main tax advantage of gifting during your lifetime is the removal of assets that would otherwise be included in your gross estate and be subject to federal estate tax upon your passing. But even if your estate is under the current estate tax filing threshold of $5.49 million per taxpayer for 2017 (or $5.6 million in 2018), you may still be required to report gifts you made during the tax year. The annual gift tax return, IRS Form 709, is due April 15th following the calendar year the reportable gifts were made.

(more…)

Share Article
Print
Categories: Family Wealth & Individual Tax Planning
Tags: Family Wealth, Gift Tax Annual Exclusion, Gift Tax Returns, Gifting Strategy,

Categories

    Archives

      subscribe:
      asl advisor

      Subscribe today to receive the ASL Advisor!

      Sign Me Up!
      Contact Us Join Our List Follow
      Privacy Policy | Site Map | Design by HDSF
      © 2022 Abbott, Stringham & Lynch - Silicon Valley CPA Firm - 1901 South Bascom Avenue, Suite 105, Campbell, CA 95008
      Phone: 408-377-8700 - Fax: 408-377-0821 - info@aslcpa.com

      Accounting | Tax | Audit | Consulting – Abbott Stringham & Lynch is a top 30 CPA firm serving San Jose, the heart of Silicon Valley and the greater Bay Area. Our experienced team offers audit, accounting, tax, valuation, and consulting services to companies and individuals. With expertise in the areas of real estate, construction, technology, nonprofit, emerging business, international, family wealth & individual, recreation and entertainment, and renewable energy. San Jose CPA – Silicon Valley CPA. Regretfully, we are unable to refund payments made through our online processing system.