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On Sunday, Mark Cuban took to X, formerly Twitter, to announce his upcoming tax payment to the IRS. The “Shark Tank” fame entrepreneur stated, “I pay what I owe. Tomorrow I will wire transfer to the IRS $288,000,000.00. This country has done so much for me, I'm proud to pay my taxes every single year.”
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Kannada Citizen
⏲ 11 minutes 58 seconds 👁 16.4K
Me u0026 My Neighbourhood
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New Newcastle signing Alfie Harrison is relatively unknown to the wider footballing world. He's a signing with impressive numbers and a knack for goal, but also a signing that highlights the direction Newcastle's transfer strategy is headed...
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ARIES INFO
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easy registration
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A lawsuit has been filed in Georgia seeking to return a $100,000 donation made to Rudy Giuliani's legal defense fund by Matthew Martorano. The lawsuit argues the donation rightfully belongs to victims of an alleged online fraud scheme involving the marketing of skin care products. Martorano and his company, Konnektive, are defendants in a separate federal class action lawsuit alleging they facilitated fraud through software that helped hide chargebacks from credit card companies. The new lawsuit claims Martorano and others have begun transferring assets to avoid paying such a judgment, including the $100,000 donation to Giuliani's fund.
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ARIES INFO
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Lazy Lion [Ankur-Bakshi]
⏲ 4 minutes 22 seconds 👁 5.5K
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
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Prashant Tech Kannada
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ಕನ್ನಡ ಕುವರ Kannada kuvara
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