Filing your taxes isn’t just a once-a-year endeavor. Maintaining good records throughout the year – and disposing of old ones when appropriate – not only provides you with greater confidence…
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Major tax reform legislation was signed into law late last year that impacts not only the federal income tax but also other taxes potentially affecting your estate plan (such as…
Major tax reform legislation was signed into law late last year and resulted in sweeping changes to the tax code for the first time in about 30 years. Businesses should…
What Is The Difference Between The Taxable Estate vs. The Probate Estate? The taxable estate is an estate tax concept. It includes the decedent’s interest in every type of property…
Entertainment Industry Deductions Wins. The Boston Bruins of the National Hockey League lost in the first round of the 2017 Stanley Cup playoffs, but subsequently scored a legal victory in…
Small businesses that reimburse employees for the cost of premiums for individual health insurance policies or pay their health costs directly will be fined up to $36,500 a year per…
The gift tax is also a component of the federal transfer tax system and is a tax imposed on transfers (i.e., gifts) of property during life, either given outright or…
Accelerate Deductions and Defer Income – It sometimes makes sense to accelerate deductions and defer income. There are plenty of income items and expenses you may be able to control….
The estate tax is one component of the federal transfer tax system, which also includes the gift tax and the generation-skipping transfer tax. The estate tax is a tax imposed…
Probate assets consist only of assets owned by the decedent at death that do not pass automatically (i.e., by operation of law) to the intended beneficiaries. A person’s will deals…
