In our Aug. 8th article, we addressed the financial and tax issues of clients in same sex marriages that would be affected by the Supreme Court’s summer ruling striking down the 1996 Defense of Marriage. The IRS recently announced its interpretation of that ruling. This is a major topic for financial advisors, accountants and attorneys… Read More »
Posts Categorized: Tax Planning
Now or Never to Take Advantage of Gift-Tax Exemption Limits
At the end of the year, the federal gift-tax exemption will fall from $5.12 million to $1 million, making this the perfect time for advisors to remind clients that now is the time to take advantage of the higher limits and avoid future estate taxes for beneficiaries. The Wall Street Journal (http://tinyurl.com/cy3xval) recently listed several… Read More »
Some Tax Saving Strategies from the Wall Street Journal
Income, estate, and other federal tax levies have commonly been a bone of contention between those with different political ideologies; but the current conflict has reached unusual heights, with various million- and billionaires publicly expressing their views (pro or against) about current tax laws. Of course, million- or billionaires aren’t the only ones with strong… Read More »
Take Advantage of New Tax Act Opportunities
In December of last year President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Chttp://presidentreation Act of 2010 (the “Act”), which encompasses far more than its name would imply. For the past few months our office has been diligently researching the many ways this act might impact our clients, and what we’ve found… Read More »
The Future of Estate Planning With the New 2011 Tax Laws
The passage last week of the bipartisan tax bill has many people breathing a huge sigh of relief. Not only is the tax uncertainty at an end, but the end result is beneficial to just about all American taxpayers, regardless of your wealth or the size of your estate. According to The Wall Street Journal,… Read More »
A Time for Giving
The holidays are upon us; a time for giving thanks, giving gifts, and giving to those less fortunate than ourselves. In honor of the season of giving I would like to share this article from USA Today about philanthropist Charlie Annenberg Weingarten, grandson of diplomat and media tycoon Walter Annenberg. Mr. Weingarten is the director… Read More »
Tax Strategies for Financial Success… Even During Uncertain Times
2010 has been, without a doubt, one of the most unusual tax years in recent memory. Not only did Congress unexpectedly allow the lapse in estate tax, but they seem to be unable to come to any decisions about the future tax code. This lack of resolution has people reacting in one of two ways:… Read More »
Character Matters When It Comes to Choosing Your Advisors
Character is important when it comes to choosing your advisors. These are the people who help you make decisions about the most important things in your life—financial security, protecting your family, preserving your privacy—and when something happens to you these are the people who (you hope) will help your loved ones get through the difficult… Read More »