May 10, 2019 – President Trump raised tariffs on U.S. imports from China today, as he warned he would this past Sunday on Twitter. Following months of signs that both sides were progressing toward an amicable agreement, that narrative was upended by Trump’s tweet, which vaguely alluded to “attempt[s] to renegotiate” by the Chinese. At first it was not clear whether the president was blustering for bluster’s sake, or if the negotiations had truly hit the rocks.
This marital agreement alert was recently published in the American Academy of Matrimonial Lawyers® – May 2019 Newsletter. As a result of changes to the law that came into effect on January 1, 2019, trusts created during a marriage can have adverse tax consequences long after divorce. Accordingly, the tax impact of every trust created during the marriage should be carefully considered when negotiating a divorce settlement, or presenting the evidence to a court.
This article was recently published in the New York State Society of CPAs TaxStringer Newsletter.Since New York has decoupled from certain personal federal income tax changes for 2018 and after, the state and federal tax treatment of those items will differ.