How COVID-19 Has Affected Tax-Exempt Bonds
First published on ArkansasBusiness.com. The COVID-19 pandemic has changed the landscape for many of us, including issuers of tax-exempt bonds. Many state and local governments rely on tax-exempt bonds to fund major projects for their communities. In order to remain compliant as well as identify…
Election Day is Coming – Will Major Tax Changes Follow?
August 10, 2020
by B. Wade Bowen
Less than 100 days remain until Election Day, and much is uncertain as to which Party will control the White House and Congress in 2021. A Republican-controlled Congress and White House enacted the Tax Cuts and Jobs Act of 2017 (“TCJA”), which some have called the most significant tax reform…
Estate and Gift Planning with Low Interest Rates - Making the Best of a Bad Situation
Because of the current pandemic, the August 2020 applicable federal rates and section 7520 rate are at historical lows, creating opportunities for interest sensitive estate and gift tax planning. Loans to family members or trusts for the benefit of family members, and transfers to some split…
Planning for College: Is a 529 Plan Right for You?
August 10, 2020
by Casey Dorman Lawson
If you have children one of the things that you have likely thought about is how are you going to afford to send your child to college. The cost of attending college continues to rise, and as we continue to hear horror stories of young adults crushed by student debt, parents are looking for ways to…
Arkansas Enacts a Version of the Uniform Directed Trust Act: Relief for "Directed Trustees" Begins in 2020
Being a trustee means complying with the highest applicable standard of duty under the law—fiduciary duty. A person who stands in a fiduciary relationship over another person cannot act, or fail to act, in a way that harms the beneficial interests of the fiduciary’s charge. (This “charge” can be…