Marvin Blum spoke to the Midland-Odessa Business & Estate Council on “Creative Income Tax Strategies” on May 23, 2024.
Some of the tools in his speech take advantage of opportunities in the law to avoid income tax, such as Roth IRAs, Qualified Small Business Stock, and Private Placement Life Insurance. Other tools, such as Mixing Bowl Partnerships and Upstream Basis Planning achieve a free basis step-up on assets (and unlike the normal basis step-up, you don’t have to die to achieve it). Others achieve a tax deferral, such as Charitable Remainder Trusts and Installment Sales. We have designed ways for people (who might think they aren’t a fit) to qualify for these tools and save substantial amounts of income tax.
Slide Deck: Creative Income Tax Strategies for MOBEC (Marvin Blum, 5-23-2024)
