scholarly journals A Study on the problems of the Gift Tax Act System based on the Complete Negative System - Focused on the Constructive Gift for Normal trust -

2014 ◽  
Vol 15 (2) ◽  
pp. 469-500
Author(s):  
정래용
Keyword(s):  
The Gift ◽  
Gift Tax ◽  
Negative System

Federal Transfer Taxation: The Effect on Saving, Capital Accumulation, and Economic Dissipation

1996 ◽  
Vol 9 (3) ◽  
pp. 269-283 ◽  
Author(s):  
Richard Wagner
Keyword(s):  
Public Policy ◽  
Federal Government ◽  
Capital Accumulation ◽  
Economic Effects ◽  
The Public ◽  
Tax Revenues ◽  
The Gift ◽  
Property Transfers ◽  
Policy Forum ◽  
Gift Tax

The federal government levies taxes on property transfers at death (the estate tax), during life (the gift tax), and to grandchildren or more remote descendants (the generation-skipping tax). Referred to collectively as “transfer taxes,” these taxes attract little interest in the public policy forum because they produce little revenue—only 1% of annual federal tax revenues, and because most Americans have no first-hand experience with transfer taxes. However, transfer taxes have significantly adverse economic effects that are grossly disproportionate to the tax revenues they generate. Transfer taxes penalize success and the creation of wealth. The adverse effects of transfer taxes on saving and capital formation, therefore, are costs imposed on society as a whole.

scholarly journals A Study on the Complete Negative System of Gift Tax Act

2011 ◽  
Vol 12 (2) ◽  
pp. 243-283
Author(s):  
정래용 ◽  
조남희
Keyword(s):  
Gift Tax ◽  
Negative System

THE IMPORTANCE OF PLANNING FOR THE GIFT TAX

2016 ◽  
Vol 16 (1) ◽  
pp. 13-18
Author(s):  
Crystal Gifford ◽  
Alfred Greenfield
Keyword(s):  
The Gift ◽  
Gift Tax

scholarly journals Estate Tax Planning And Marketing Oppor-tunities Of The Economic Growth And Tax Relief Reconciliation Act Of 2001

2011 ◽  
Vol 1 (2) ◽  
Author(s):  
Cassie F. Bradley ◽  
James E. Coleman
Keyword(s):  
Planning Process ◽  
Tax Planning ◽  
Optimal Time ◽  
Estate Tax ◽  
Tax Practitioners ◽  
Tax Relief ◽  
The Gift ◽  
Planning Strategies ◽  
One Year ◽  
Gift Tax

The best advice tax practitioners can give clients after the 2001 Tax Relief Act, is that the optimal time to die in the next decade will be 2010! What has been touted as a repeal of the Federal estate tax, has actually resulted in increasing the importance of estate tax planning. This is due to several factors. First, the rate reduction is phased in so slowly that in 2009, the top estate rate will still be 45% and the exemption amount only $3.5 million. In 2010, repeal is actually achieved, but for one year only. The repeal sunsets in 2011 when the estate tax comes back in full, using a maximum 55% rate and a $1 million exemption. Basis of inherited property may prove to be a nightmare. Some property will get a stepped up basis, other property will not. Further complicating the picture is that the gift tax has not been repealed.The estate tax planner will be faced with a host of issues to consider. Which estate planning strategies are still valid? What new planning tools will be developed? Many wills will include obsolete provisions and will need to be redrafted. Health of the client will become more important in the planning process. Marketing issues of planning under such uncertainty abound. This paper examines the new estate and gift tax provisions; offers strategies for navigating the sea of complexity and uncertainty; and explores the marketing opportunities for financial planners created by the new law.

scholarly journals Save the Gold Watch Receipt: An Analysis of the Gift Tax on Athlete Retirement Gifts

2019 ◽  
Vol 29 (2) ◽  
pp. 171-185
Author(s):  
Dylan P. Williams ◽  
Patrick Tutka
Keyword(s):  
Financial Burden ◽  
Professional Athletes ◽  
Estate Tax ◽  
Internal Revenue ◽  
The Gift ◽  
Complex Decision ◽  
Gift Tax

The retirement of professional athletes is an emotional and complex decision for competitors who dedicate their lives to a particular sport. It is common for professional teams, leagues, and other athletes to celebrate the careers of stellar professional athletes with charitable gestures and gifts. However, these gifts can create a financial burden when one is required to pay the gift tax on the item’s value. The purpose of this study is to detail the rules, history, and application of Internal Revenue Code (IRC) Section (§) 102, which could tax athletes who give and receive gifts. Athletes should be cautious when giving gifts, as amounts exceeding the annual and lifetime exclusion limits can trigger the gift tax, causing future complications for decedents with the estate tax. Teams should also explicitly state their lack of a detached and disinterested generosity when honoring an athlete, as the gifts provided are considered taxable compensation.

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