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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.
IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed
⏲ 1:29 👁 8.4M
Deloitte US
Revenue Recognition: Disaggregation of Revenue Disclosures
⏲ 1 minute 8 seconds 👁 68
BDO Global
change to Disaggregation of Revenue - Mining By Wayne Basford
⏲ 3 minutes 32 seconds 👁 65
The Sabah state government threw a surprise on Thursday (May 16) when it intervened in the Federal Attorney General's appeal against the High Court decision to grant the Sabah Law Society (SLS) leave to challenge the 40% Special Interim Grant provisions.<br/><br/>Read more at https://tinyurl.com/2276xham<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline
Sabah’s 40% revenue rights: State govt intervenes in Federal Govt appeal
⏲ 1:10 👁 30.3M
BDO Global
Disaggregation of Revenue - Oil & Gas By Susan Oldmeadow - Hall
⏲ 2 minutes 39 seconds 👁 109
Accounting Journal Entries
ASC 606 Simplified: Understanding Revenue Recognition in 3 Minutes
⏲ 2 minutes 35 seconds 👁 2K
Sanctions after the invasion of Ukraine sent tanker values soaring, boosting the fortunes of these Greek maritime moguls to record highs and minting at least seven new 10-figure fortunes.<br/><br/>Forbes estimates there are now at least 12 shipping billionaires in Greece, more than at any other time in history. Seven of them are making their debut in Forbes’ billionaire ranks. They are worth a collective $32 billion—the equivalent of roughly 12% of the country’s gross domestic product.<br/><br/>These tycoons are the latest in a line of swashbuckling pioneers hailing back to iconic figures like Aristotle Onassis and Stavros Niarchos, who launched the global oil tanker trade after World War II and became famous for their glamorous marriages and lifestyles. This newer group has been in shipping for decades but kept a lower profile. (Despite their success, none would speak to Forbes, while their representatives either declined to comment or did not respond.)<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/05/13/meet-the-greek-shipping-billionaires-getting-rich-off-russian-oil/?sh=6323b9ce74f1<br/><br/>0:00 Introduction<br/>0:24 Greece's Presence In The Shipping Industry<br/>2:46 How Has Greece Made So Much Revenue With Shipping<br/>6:59 How Onassis and Niarchos Reached 10 Figure Status<br/>12:44 Tax Sanctions And Where It Applies In Greece<br/>15:20 How Long Will Greece's Shipping Boom Last<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Meet The Greek Shipping Billionaires Getting Rich Off Russian Oil
⏲ 17:15 👁 6.5M
Cherry Bekaert
Webinar: Revenue Recognition (Topic 606) Disclosures
⏲ 59 minutes 46 seconds 👁 741
The Financial Controller
Revenue Recognition ASC 606 Explained via Example
⏲ 9 minutes 57 seconds 👁 2.3K
Sabah leaders from both sides of the political divide were among hundreds of people at the Kota Kinabalu Court Complex on Thursday (May 16), awaiting the outcome of a crucial court hearing that may compel Putrajaya to carry out its constitutional obligation of paying 40% revenue entitlement to the state.<br/><br/>Also in the crowd were activists, indigenous and state rights groups who came to wait in anticipation of the appeal by the Federal Attorney General on a judicial review initiated by the Sabah Law Society (SLS).<br/><br/>Read more at https://tinyurl.com/26834r8r<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline
40% revenue rights: Hundreds turn up to show support on day of crucial hearing
⏲ 1:23 👁 40.7M
Farhat Lectures. The # 1 CPA u0026 Accounting Courses
Revenue Recognition ASC 606.Step 1:Identify the Contract.
⏲ 11 minutes 25 seconds 👁 18.6K
McKonly u0026 Asbury
Five Step Process To Revenue Recognition
⏲ 12 minutes 52 seconds 👁 24K
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