How to Reduce Capital Gain Taxes Under Biden’s 2021 Proposal Using an Installment Sale Under Current Internal Revenue Code Section 453. By Paul J. Lesti, CSSC, RSP, MSSC There are reports that President Biden’s 2021 American Families Plan proposes to increase the marginal tax rate for capital gains to 39.6%…
The United States remains obligated to make periodic payments even though it paid for annuities to make those structured settlement payments. This situation arose because the annuity issuer, Executive Life Insurance Company of New York, failed to make all of the future payments. In Langkamp v. U.S. the United States…
One can now sell a home or real estate and get a tax-deferred, guaranteed payment stream for retirement or for any other purpose. This is an Installment Sale under Internal Revenue Code Section 453 that has been used for years. Now, a new feature to this Installment Sale transaction allows…
Here is some information that may be helpful when considering selling your payment rights to your Structured Settlement per the Consumer Finance Protection Board. What you should know before giving up your Structured Settlement payments.
A lawyer should not agree to personally indemnify an opposing party, as it violates Florida rules and a lawyer should not require that another attorney enter into an agreement to personally indemnify an opposing party, as that also violates Florida Rules of Professional Conduct. This was the finding of Florida…
This is a good article about Structured Settlements. The quote by Professor Christopher Coyne, a St. Joseph’s University finance professor is very insightful. He said, “Conventional investing logic doesn’t apply for plaintiffs in injury or wrongful death accidents. Guaranteed income is vital and few have experience creating plans to meet…
AIG recently posted Frequently Asked Questions regarding recent news and American General Life Insurance Company. Frequently Asked Questions March 2, 2009 AIG announced a significant fourth-quarter loss and a restructuring of its organization. What can you tell me about this? What does the AIG restructuring mean to American General Life…
Here is the text of the Emergency Economic Stabilization Act of 2008, the version that the House voted on and passed on October 3, 2008.
The text, summary and a section-by-section document of the Emergency Stabilization Act of 2008 may be found at http://financialservices.house.gov/.
American International Group, Inc. filed an amendment today with the SEC that may allow a “going private” transaction and allows former AIG chairman Maurice Greenberg to protect his shares. AIG filed Schedule 13D that allows CV Starr, who has retained Perella Weinberg Partners LP, to advise “Reporting Persons” on a…