Matthew Ledvina

It’s the question that everyone in the industry is asking right now, so we sat down with an expert to hear more. Matthew Ledvina is a cross border tax specialist with an extensive knowledge of PPLI and he was willing to sit down with us and shed light on the GAO’s latest activities: “Firstly, I want to say home important it is that an institution with the reputation and reach of the United States Government Accountability Office is taking this part of the industry seriously. I’ve been warning about the abuse of a number of variable insurance products and the wide-ranging implications such practices are having on the industry.” It’s certainly something of a hot topic right now, so does this mean an end to all offshore arrangements for high net worth individuals? “Absolutely not, this is more of a cleanup as it were. The key thing to note here is the IRS themselves openly acknowledge the legitimacy of many offshore life insurance products and the benefits they offer. What the GAO

When it comes to filing the US taxes, it is important to understand the best practices, concepts, and basic terms related to it. You might have hired a professional to file your taxes for you. But, knowing these crucial as pects of taxation will help you know about the steps you can take or reducing your tax bill or getting you more refunds. It will also make sure that you get to dodge any late-payment penalties or failed-to-file fees. Regardless of whether it is the first time you’re filing taxes or you want to improve your present process of filing, the following ideas will come to your aid. Choosing the right ways to file the US taxes Matthew Ledvina , one of the most respected tax advisors in the country, believes that the most important thing is to determine who will file the taxes. You can do it yourself using the online tax filing systems, or you can visit professionals who prepare taxes. If there is nothing complicated about your financial situation, it might be a good

As with life insurance, annuities are tax-favored investments under the Code. Unlike life insurance, however, the primary income tax benefit of an annuity is derived from the compounding effect of the tax deferral on the investment gains within the contract, rather than the avoidance of income tax, as with investment in a life insurance policy. Generally, under § 72(a), gross income includes any amount received as an annuity under an annuity, endowment, or life insurance contract. The income tax effect of an annuity depends, however, on numerous factors, such as whether the tax is being applied to a distribution during the a nnuity’s accumulation period or annuitization period and whether the distribution occurs after the death of the holder of the annuity contract or after the death of the annuitant (assuming that the holder and the annuitant are different persons). Section 72: Annuity Contract Defined To qualify as an annuity, the annuity contract must satisfy the requirements o

Being a high net worth individual allows you to see and do more than you ever dreamed of, but it also produces a number of issues which can require detailed planning. Moving your assets into the US can often feel confusing and overwhelming, and it can be a stressful and time-consuming process if done incorrectly. To give you an idea of how you can tackle the issues involved many overlook, we’ve create a simple guide that talks you through everything you need to know.   The Importance of Avoiding Gray Areas Clarity is the name of the game when it comes to the complex issue of cross-border taxation. Just because something isn’t prohibited doesn’t necessarily mean it’s a good idea, which is why it’s vital to get all of the basics in order in a proven way. Once you have a solid foundation, it’s then much more straightforward to fine tune everything else.   Accounting For State-Specific Taxation The state you move to can have a significant impact on how your assets and estate will b

  A huge tax bill not just ruins your day, but even the rest of the month. However, the good news is that there are ways for you to move past the unpleasant surprise of an unexpectedly high tax bill. Here are some of the ways in which you can cut down the tax bills for the year. In many of the cases, you need to itemize and not follow standard deduction to use the strategies. But, that extra effort would be worth it. Find a way out to tweak the W-4 The W-4 is the form that your employer gets from you, whereby, you mention how much tax to be withheld from every paycheck. You have the option to make changes to the W-4 at any time. One of the top US tax advisers, Matthew Ledvina suggests two ways to tweak the W-4: ·          If you have receive a huge bill for this year, and do not want to get the same surprise next year, raise the withholding to make sure you don’t owe an exorbitant amount at the time of filing the tax returns. ·          If you have received a major refund, reduce your