Unmarried Couples Must Take Extra Steps to
Reduce Estate Tax Liability
married couples, who can take advantage of the marital
deduction, unmarried partners can't transfer unlimited amounts
to each other tax-free.
To reduce their estate tax bills, they
must take some additional steps.
option is to make lifetime gifts using the $14,000 per year
per recipient annual gift tax exclusion. If you start making
regular annual gifts early enough, you can transfer a
significant amount of wealth tax-free.
technique - which is available only to unrelated persons - is
the grantor retained income trust (GRIT): You transfer some or
all of your assets to an irrevocable trust, reserving the
right to receive the trust's income during its term. At the
end of the term, the assets are transferred to your partner.
If you die before the end of the trust term, however, the
assets will be included in your estate. That is, they'll
revert to you.
When you contribute assets to a GRIT, you make a taxable gift
to your partner. But the amount of the gift for federal tax
purposes is deeply discounted by subtracting the actuarial
value of your reserved income and reversionary interests from
the value of the assets.
If you and your life partner are affluent enough to make gift
and estate taxes an issue, you can enjoy significant tax
savings with a little extra planning. Contact us at
925-634-2344 with any questions.
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or on our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,