1,814 results found

On October 11, 2004, Congress passed a significant federal tax bill, the American Jobs Creation Act of 2004 ("AJCA"), which President Bush is expected to sign into law prior to the end of the year. Although AJCA was originally designed to end a U.S. tax credit for exported goods that had been determined to violate international trade agreements, the bill addresses many other areas of federal tax law.

A Self-Canceling Installment Note (SCIN) is a technique used to sell an asset, usually shares or partnership interests in a closely held family business, in exchange for an interest-bearing promissory note. An appropriately structured SCIN will remove the future appreciation in the family business from the seller’s estate. In addition, if the seller dies prior to the maturity of the promissory note, the then-outstanding principal amount of the note may be excluded from the seller’s gross estate.