$5,000,000 in Tax Savings
This highly sophisticated estate tax strategy for a multi-generational family business was implemented via:
Life insurance trust which shelters the $2 million policy from estate taxes
Recapitalization of the corporate stock in order to transfer non-voting stock to the children who are not involved with the company and voting stock for the children who are running the company
Defective grantor trust to transfer a significant amount of assets to the next generation
Grantor retained annuity trust (GRAT) to gift discounted, non-voting stock to children while retaining an income for the parents
Gifting of a qualified personal residence (vacation home) trust to transfer additional assets out of the parents’ estate while still allowing the parents to use the vacation home
Generation-skipping provisions to shelter (eliminate) $1 million from estate taxes - from the grandparent to the grandchild.
$1,200,000 in Tax Savings
This sum was accrued in only one year by creating an optimal way to contribute highly appreciated, closely held stock to a private foundation and deducting its fair market value instead of its cost basis (which was nominal). Our position was confirmed and lauded by one of the top law firms in Los Angeles.
$650,000 in Tax Savings
Identifying and activating an unknown tax deduction for the sole owner of a magazine publishing company resulted in this enormous windfall. The timing of that allowable deduction was optimally utilized to offset a new publishing venture generating an $800,000 profit.
$150,000 in Tax Savings
Combined taxes, interest and penalties were eliminated when a prior C.P.A. filed a taxpayer’s tax return while in the midst of a 1031 deferred exchange. This filing triggered the entire gain--however, our firm (the new C.P.A. firm) was able to mitigate most of this by handling the transaction as an installment gain and deferring most of the tax until a later date, eliminating all interest and penalties.
After working with the IRS office for over seven years on this one project, Stanislawski & Company, Inc. and our client’s attorneys were able to work through a complicated series of audits and negotiations resulting in the release an L.A. county recorded tax lien for over $525,000.
$50,000 in Tax Savings
A top entertainment executive had received a substantial signing bonus to guarantee employment for a five-year period. The signing bonus was to be paid out over a five-year period and in the first year was incorrectly counted twice, once on an amended W-2 and secondly through a special trust income distribution Form K-1. The original negotiations and final contract involved over three months of work and our firm had discovered the double-counting, thereby saving the client over $50,000 in the first year.