Estate Trust and Gift Tax

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Leveraging a Spousal Lifetime Access Trust

October 26, 2021

VIDEO: The lifetime gift tax exemption is at an all-time high of $11.7 million per individual and $23.4 million per couple but may be reduced in the near future by potential legislation. This video provides an overview of the Spousal Lifetime Access Trust and how it can help couples maximize

Olsen Thielen Celebrates 100 Years

March 9, 2021

Nearly 100 years ago, Olsen Thielen was founded on the belief that personal attention, trust, and quality service were the key elements to helping our clients succeed, and that commitment remains. commitment to their clients and their community.

Now May Be the Time to Use Your Gift and Estate Tax Exemption

November 18, 2020

The federal gift and estate tax exemption was enacted in 1916, and right now, it is at the highest it has ever been. This means that you can pass more to your heirs today, without paying any federal gift or estate tax, than ever in the past century.

Pairing a Pour-Over Will With Your Trust

October 30, 2020

VIDEO: Does your estate plan include a trust? If so, you should know about an estate planning tool called a Pour-Over Will which helps ensure that all assets are moved into a Trust after an individual's death.

Adam P. Thielen Elected Principal

October 8, 2020

We are pleased to announce that Adam P. Thielen, CPA, was elected Principal, effective September 1, 2020.

Review Your Estate Plan Following a Major Shock

October 8, 2020

It is recommended that you review your estate plan at year’s end. The end of the year is a logical time to note important life events that have taken place over the past 12 months or may affect your plan.

Should You Elect the Alternate Valuation Date for Estate Tax?

July 27, 2020

Taxes on the transfer of wealth upon death can be substantial. The tax burden, which is typically based on the value of the estate assets on the date of death, can be additionally painful if the value of the transferred assets declines in value after the date of death.

What You Need to Know About the Gift Tax

February 1, 2020

VIDEO: Gifting can be an strategic part of your estate plan, but it's important to understand how the Gift Tax works. The Gift Tax is a federal tax on assets transferred to a recipient when full payment is not received in return. In this video you'll learn important tax

How to Report Deceased Employee Wages

December 27, 2019

If an employee passes away during the year, you must report the accrued wages, vacation pay, and other compensation paid after the date of death. And, accrued wages paid in the same year as the employee’s death are reportable on Form W-2 and Form 1099-MISC.

Do I Need a Will?

October 1, 2019

VIDEO: While death is a fact of life, it can be exceptionally hard for those left behind. A Will can help provide direction and ease the burden for your loved ones.

7 Tax Minimization Strategies for Investing

September 1, 2019

VIDEO: Keep more of your investment dollars in your pocket with the following tax minimization strategies. In this short video, we'll cover seven strategies to help you minimize taxes when investing in stocks, real estate and other types of assets.

Strategies for Estate Planning

July 1, 2019

VIDEO: With recent tax changes, it is important to make sure that you are making good choices as it relates to your Estate Plan. The Internal Revenue Service recently increased the estate tax exclusion. While this can be a big benefit, it's important to have strategies in place

Review Your Beneficiary Designations

May 16, 2019

Avoid unintended consequences by making sure that the beneficiary designations listed on your retirement plan(s), annuities, and IRAs are up to date. Did you know that the named beneficiary takes priority over the beneficiaries named in your Will?

Succession Plan for Family Business

May 16, 2019

Owners of a family-owned business many times underestimate the need for a succession plan for their family business. The thinking may be "we’re a family business and there'll always be a family member here to keep the company going and no one will stand in the way."

Restricted versus Unrestricted Gifts

March 13, 2019

Nonprofit organizations rely on donor gifts to achieve their objectives. There are two kinds of gifts, restricted--that come with conditions attached; and unrestricted, that can be added to general operating funds and used where needed..