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Stock Options: Estate, Tax, and Financial Planning (2011)

Stock Options: Estate, Tax, and Financial Planning (2011)

Author: Carol A. Cantrell
Publisher: CCH U.S.
ISBN: 9780808023050
Published In: December 2010
Format: Paperback , 1040 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Stock Options: Estate, Tax, and Financial Planning provides the answers to the unique features of stock options and the numerous questions over how and when they are taxed, valued, and recorded for financial statement purposes. In addition, it raises many more questions for which there are no clear answers. It is a comprehensive guide for estate, tax, and financial planners who advise clients about employee stock options, human resources personnel who are presumed to know all about these important benefits, and for insiders who must know these things. Finally, it is also for the inquisitive-minded individual who wants to maximize the value of his or her stock options in a number of different life circumstances.

This book offers a comprehensive source of up-to-date information about the major tax and financial areas affecting stock options. It gives practical advice for dealing with options through its many examples, planning notes, and forms designed for a quick understanding and easy application of the principles.

The subject areas span many professional disciplines. Therefore, most practitioners will be familiar with some, but certainly not all of the areas. Nonetheless, clients with stock options will surely encounter the majority of these issues at some time during their life. For many of these clients, stock options are their largest and most important asset. Thus, the Guide fills the educational gaps for the practitioner and his or her client where answers are to be had. And where questions remain unresolved, it offers a useful starting point in research.

Why Stock Options?
Tax Basics
Alternative Minimum Tax (AMT)
Coping with Tax Problems in a Down Market
Family Gifts of Stock Options
Family Partnerships and Other Advanced Tax Planning Strategies
Divisions Pursuant to Divorce
Bankruptcy of the Employee
Retirement Planning
Death of the Employee and Estate Administration
Insiders and Other Highly Compensated Individuals
Options Earned While Working Overseas
Section 83(b) Elections
State Income Taxation of Stock Options
Appendix State Income Taxation of Stock Options

Carol A. Cantrell, CPA, JD is a shareholder of Briggs & Veselka Co., one of the largest public accounting firms in Houston, Texas. She is also a Certified Financial Planner. She specializes in estate, tax and financial planning for families, closely held businesses, and investment entities. Prior to her merger with Briggs & Veselka in 2000, she and her husband, W. Patrick Cantrell, operated Cantrell & Company, a boutique tax firm in Houston, specializing in tax planning and IRS representation. Carol is a frequent speaker for national and state professional organizations on income taxation of estates and trusts, partnerships, and S corporations. She is also the author of CCH's Stock Options: Estate, Tax and Financial Planning, a treatise on employee stock options.

As a licensed attorney, Carol represented the Rudkin Testamentary Trust pro bono before the United States Supreme Court in Knight v. Commissioner (2008). In that decision, the Court resolved a circuit split over which administrative costs of an estate or trust are exempt from the 2-percent floor on miscellaneous itemized deductions under IRC Section 67. The court found that Section 67(e) exempts onlycosts that individuals do not "commonly" or "customarily" incur and because it saw no distinction between the investment costs incurred by the Trust and those commonly incurred by individuals, the Court found the Trust's investment advisory fees subject to the floor.

It is the author's sincere desire that this book will help its readers to distinguish between the costs incurred by a fiduciary to comply with the Uniform Principal and Income Act and the Uniform Prudent Investor Act and the costs voluntarily incurred by individual investors.