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Tax consequences of liquidating 529

*Income tax apportionment issues *Prevalence of the single sales factor *Determining the type of property being sold *Sourcing of income from intangible property and services *Market-based vs. 230 (Audit Documentation) plays in not-for-profit audits *Implementation tips for the new Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) on not-for-profit financial reporting (ASU No.cost of performance *Pass-through problems -- nexus for interest owners, withholding issues, sourcing of income and entity-level taxation *State nexus questionnaires *Responsibility of officers, members, partners and shareholders *Pending federal and state tax legislation*How to develop an offer price using the discounted cash flow and alternate valuation methods *Confidentiality agreements, memorandums of understanding and asset purchase agreements *Due diligence in acquisitions -- checklists of important points *Deemed asset sales -- is Sec. 2016-14) *Impact of the FASB ASU on leases (ASU No. 2014-09) on not-for-profit organizations* Roth IRA: The right choice?Often, investment firms and/or their bank affiliates can extend a securities-backed line of credit within a matter of days, if not hours.

In some instances, a lender could skip straight to selling the assets without first offering a borrower the chance to deposit cash or additional collateral into the account.

First, ask your investment firm, and verify in the loan documents, whether they or an affiliate bank will be the lender, or if the loan would be outsourced to a third-party.

That can open a conversation on some of the fine-print terms of the loan, including what the firm does with the securities when they are being used as collateral, what rights you have in the event the lender calls for more collateral and how the repayment process works.

Securities-based loans allow an investment firm to extend an investor a line of credit without selling the assets backing the loan, much as the once popular home equity line of credit (HELOC) allowed banks to extend credit to homeowners without touching the underlying home.

The number of investment firms offering securities-based loans has soared in recent years, capturing the attention of regulators, including the Financial Industry Regulatory Authority, concerned about how they are marketed and used.


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  2. If an aging relative knows that their time is coming soon, they can give their beneficiaries more by investing in a 529 plan rather than gifting directly. "Normally, people can only gift up to $13,000 per year $26,000 for joint filers before incurring gift tax, but 529 plans have a special rule.

  3. Okay, let's forget about financial aid for a moment. Is there an income tax savings from moving my child's UGMA/UTMA money into an UGMA/UTMA 529?

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