Irving L. Blackman

Irving L.
Blackman
Articles
Secret to solving business succession problems 
Sooner or later, every business — whether guided by a well-thought-out plan or forced by circumstances — must replace its leader. Succession Planning (SP) is the name of this game.
Most-used tax strategies in 2014 
Before you start reading this column, let's look back at 2014. Last year is the first year in memory when there was no significant change in the tax law: neither income tax or estate tax.
How to transfer your business to your kids 
It's December in Chicago: cold, snowy and blustery. What has the winter weather got to do with business succession? It's just too late to get any serious tax planning done.
Life insurance policy at nonsmoker rates 
If you, a loved one, or someone you know smokes and needs life insurance, you'll not only enjoy this story, but will want to learn how to achieve the good-news result.
Avoid the estate tax monster  1
Do you have enough wealth to be clobbered by the estate tax? Then read every word of this article, so you learn how to keep your wealth.
Transferring your business to your kids 
Joe couldn't sleep. He was troubled, anxious and perplexed.
Slash your taxable income by $1.2 million 
Want to make a grown man cry? Tell him the amount of his income tax bill (after he was originally thrilled by a great profitable year). For the year 2013 there is an unbelievable increased top rate — 39.6% for taxable income over $400,000 if single, $450,000 if married. Ouch!
IRS estate tax conqured by second opinion  1
For years I have been writing, "If you use the right tax strategies, work with the right professional, typically a lawyer, CPA and insurance consultant, you will create a comprehensive plan to conquer the estate tax.
Turn investment income into tax-free income 
"Tax-free" always has a nice ring to it. The higher the income tax rate the nicer the ring. The old top rate, at 35%, was bad enough. The current highest rate — 39.6% — has created a flurry of activity to legally avoid the tax.
Business real estate and the best way ‘tax wise’ to own it 
Someday, when you try to get the real estate (invariably, depreciated down to a low tax basis and appreciated in value) out of the corporation, you will be beat up with a double tax. Again — why?
If you own annuities, chances are you are being ripped-off 1
If you own annuities, you'll love this article. If you don't own any annuities, then pass this article to friends who do.
The R & D tax credit: how to lower your income tax bill
Sometimes the Internal Revenue Code giveth more than it taketh. Section No. 41 of the Code — creates the Research and Development tax credit, “R & D Credit” for short — is designed to be your tax pal. But he’s a complicated fella.
New law opens new “wow” opportunities for family business owners 1
Joe and Mary, both in their early 60s, consider themselves blessed. Joe started his one-man-show business in 1975.
A well-guarded investment secret 44
Small business owners (SBOs) have many legitimate complaints these days: taxes, regulations, competition (from home and abroad), can’t find good people, etc. The list goes on and on. Always has. Always will.

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