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Supreme Court Confirms Life Insurance Proceeds Received by Corporation Increase Estate Tax Value of Decedent s Shares | Lathrop GPM

The June 6 unanimous ruling by the United States Supreme Court in Connelly v. United States creates a significant change for closely held businesses planning to utilize life insurance.

United statesThomas connellyUs supreme courtConnelly courtUnited states supreme courtEleventh circuitCrownc supplyInsurance proceeds must reflectedInternal revenue code

The Skinny on SCOTUS - 6-6-24 Edition: The Weeds-y Decisions

The Skinny on SCOTUS - 6-6-24 Edition: The Weeds-y Decisions
redstate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from redstate.com Daily Mail and Mail on Sunday newspapers.

United statesJustice samuel alitoThomas connellyDistrict courtAsbestos personal injury trustRevenue serviceIndian health servicePetitioner truck insurance exchangeKaiser gypsum coIndian self determinationEducation assistance actSan carlos apache tribeNorthern arapahoBoth tribesTenth circuitsCrownc supply

Justices to hear estate tax dispute over shareholder s life-insurance policy

After a hearing another high-profile dispute over abortion access, the justices will return to the bench on Wednesday to consider a routine practice in estate planning for closely held corporations. To help keep the business in the family upon the death of a shareholder, businesses frequently purcha

Ronald mannAnthony quintanoThomas connellyMichael connellyRevenue serviceCrownc supply coSupreme courtCrownc supply

Court faces dispute over insurer s rights in asbestos bankruptcy plan

Court faces dispute over insurer s rights in asbestos bankruptcy plan
scotusblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scotusblog.com Daily Mail and Mail on Sunday newspapers.

Michael connellyAnthony quintanoThomas connellyRonald mannCrownc supply coRevenue serviceSupreme courtCrownc supply

Business Owners Should Review Their Buy-Sell Agreements

A recent tax case hasn’t gone well for a small business, highlighting the need for businesses using a similar (and typical) succession planning arrangement to take a look at theirs. A buy-sell agreement is a key component of business succession planning, particularly for small businesses with two or more family groups in the ownership structure. This issue is applicable for both corporations and limited liability companies (LLCs). Family Business Survival Strategies as Tax Landscape Changes A bu

United statesThomas connellyCrownc supply incCrownc supplyInternal revenueStock agreementBuy sell agreementEstate taxSmall business