Blog Category - Taxation Page 2

Name: Strauss Attorneys PLLC
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Apr

Revised Limited Liability Company Act

When dealing with the death of a loved one, the amount of information to be processed and documents to be sorted through might seem overwhelming. Faced with unfamiliar concepts, terminology, and deadlines along with one’s own grief, the trust and probate administration process ca...

Apr

Understanding Estate Tax Laws and Proposed Changes

We spoke with Dave Hunt, Founder and Wealth Manager at Milestone Wealth, about current estate tax laws and changes that may be on the horizon! Watch the YouTube video below to find out more! Watch Now! ...

Apr

Surviving Spouses Need To Be Aware Of Potential Changes To The Estate Tax

Clients who have lost their spouse within the past two years may want to speak to us if his or her estate is close to $6 million. Why? Because there are pending tax proposals before Congress that would reduce the current $11. 7 million exemption down to approximately $6 million on...

Apr

A $10 Million Tax Benefit for Small Business Investments

by Andy Strauss The Tax Cuts and Jobs Act of 2018 (“TCJA”) reduced corporate and personal income tax rates (top personal rate fell from 39. 6% to 37% and the top corporate rates are now a flat 21%), but also eliminated many deductions. Notable deductions that were elim...

Apr

Tax Law Roulette

Speculating about tax law legislation is a lot like speculating about the weather. Even when you use the best instruments (barometers, hygrometers, radar, etc. ), the weather can throw you a surprise from left field. The same can also be said for predicting tax legislation. Logic...

Apr

Opportunity Zones: Are They the Right Opportunity for You?

What are Opportunity Zones? Opportunity Zones have attracted a lot of publicity since they were created in 2017. The Tax Cuts and Jobs Act created tax incentives designed to encourage investors with capital gains to reinvest those gains into low-income and undercapitalized commun...

Apr

End of Year News

We are almost at the end of another year, so it's a good time for us to highlight some estate planning strategies for you, caution against some common pitfalls and give a preview of possible things to come. The Estate Tax—The Sky’s The Limit, Or AlmostMost of u...

Apr

Federal Transfer Taxes

The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year: 2017 2018 2019 Gift and Estate Tax Exclusion $5,490,000 $11,180,000 $11,400,000 GST Tax Exemption $5,490,000 $11,180,000 $11,400,000 Gift Tax Annual Exclusion $14,000...

Apr

Does the New Tax Act Reduce the Income Tax Benefits of Giving to Charity and How to Encourage Larger Donations?

The Tax Cuts and Jobs Act which became effective on January 1, 2018, affects almost every area of income tax law, including charitable giving. An individual’s cost to donate money to charity has traditionally been reduced by the tax benefits afforded charitable deductions under s...

Apr

Estate Planning Opportunities Arise with Passage of Tax Cuts and Jobs Act (TCJA)

The Tax Cuts and Jobs Act (TCJA), which came into effect on January 1, 2018, is the most significant overhaul of the tax code since 1986. Although it was meant to simplify the tax code, it is very complex and will undoubtedly be subject to ongoing modifications and interpretation...

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