Law Offices of Givner & Kaye Newsletter | October Issue 

         

          The big deductions - pensions and captive insurance companies - require a closely held business.  What if you don't have a closely held business?


 

          Would you be interested in a structure that gives you a 100% deduction for this year?  Would you be interested in a structure that gives you a 100% deduction this year and can transfer to your children an amount equal to 100% of the deduction in 15 years?  Would you be interested in a structure that give you a 100% deduction this year; can transfer an amount equal to 100% of the deduction in 15 years to your children; and transfers an amount equal to 100% of the deduction - money that would have otherwise gone in taxes - to your favorite charity? 


 

          What do you call that structure?  We call it a chocolate chip cookie.  So if you are interested in a chocolate chip cookie please call us as soon as possible so that we can help you discuss this in more detail and, if you like all the details, you can get it into effect before the end of the year. 

 

          Best regards,

 

                    Bruce Givner

                    Owen Kaye

                    Kathleen Givner

                    Neda Barkhordar

Featured Article: SEC Shuts Down Nationwide Automated ATM Ponzi Scheme

The Nationwide Automated ATM Ponzi Scheme was shut down by the SEC on September 17.  The program had been in operation for 15 years.  


 

Some of the investors had been enjoying returns of 20% per year like clockwork.  Some of the earliest investors are net winners and, as a result, may face "clawbacks" from the receiver who will ultimately be appointed to take over the operations and try to recover money for virtually all of the investors who were net losers.  


 

This is another example of two important lessons: (1) if it is too good to be true it usually is (compare that to the 12% per year return that Madoff investors enjoyed for 2 decades (some for 3 decades)); and (2) trying to do asset protection planning after "something happens" is like trying to buy fire insurance when your house is already on fire.

 

To start, review, or revise your asset protection planning, contact us today.  

YouTube Videos
 "Classifying workers: employees or independent contractors"
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Attorney Spotlight: Upcoming Engagements

Bruce Givner was interviewed on The Insider about the Amanda Bynes conservatorship on October 14. 

 

Bruce Givner is teaching Community Property: The CPA's Guide for the California CPA Society in Orange County on October 29.

 

Bruce Givner is giving a nationally broadcast seminar on November 13 at 9 a.m. for the Ultimate Estate Planner on Capital Gains Tax Planning Strategies - All Of Them.

 

On November 6 Owen will be presenting the Thursday Insights Series Seminar on "Conservatorships and Elder Abuse" in our office. Sign up here


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Tax Tip of the Month

Partner Owen Kaye invested in an oil drilling partnership at the end of 2013.  It was not a wildcat, exploratory program, but a program drilling in a field that is already producing.  Owen is happy because in addition to the deduction of 100% of his investment he is getting nice checks each month that amount to a 9% yield which are, in turn, partly sheltered from taxes.  The firm with which Owen invested has another program that just opened for this year so if you are interested, Owen can give you the name of the person who directed him to that program.  The law firm has zero interest financially in the program (nor do we get a referral fee from the program).  

 

Bruce Givner & Owen Kaye
In This Issue
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Upcoming Thursday Insights Series Seminar:  
 
Conservatorships & Elder Abuse with Owen Kaye, Esq. 
 
November 6
2:30pm-4pm
 

In theory, people with a fully funded living trust
should not need a conservatorship of the estate. The successor trustee should be able to step in. However, what happens when the parent refuses
to resign? Separately, what happens when the parent resigns as trustee but needs help with personal care beyond that which is provided by an Advance Health Care Directive? A related
topic is financial and physical Elder Abuse,
which is not just against the "elderly"; it can also be against mentally handicapped individuals. Both of these topics should be of interest to all professional advisors in light of our rapidly aging population of wealthy clients. 


Join us in the office or online via webinar, where you can watch the folks in the room listen to and question Owen.  
Tax Law Comics: 
The Adventures of Reese & Ira Sponsible
For almost four decades, our experienced Los Angeles estate planning, asset protection and expert tax attorneys have met each client's unique planning needs by collaborating with our longtime partners - attorneys, accountants, business managers, financial planners, stockbrokers and insurance professionals. Contact Givner & Kaye today!

Givner & Kaye, A Professional Corporation | bruce@givnerkaye.com 
www.GivnerKaye.com
12100 Wilshire Blvd.
Suite 445
Los Angeles, CA 90025

October, 2014

Compiled by Givner Strategies, LLC


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