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Apr
Tax Tips to take to Minimize income and estate taxes in Trusts and Estate Planning
1. Consider distributions to beneficiaries Because the maximum ordinary tax rate (39. 6 percent) and the net investment income tax (3. 8 percent) apply to trust income at a much lower threshold than they do for individuals, trustees of discretionary trusts should consider distribu...
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Apr
What the New Tax Law Means to You
As you probably know, Congress avoided the so-called fiscal cliff by passing – at the 11th hour – the American Taxpayer Relief Act of 2012 (the 2012 Tax Act), signed into law by the President on January 2, 2013. The 2012 Tax Act makes several important revisions to the tax code t...
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Apr
“Portability” of the Federal Estate Tax Exemption – What does it Mean?
With the political and economic climate as it is in the summer of 2008, we are not likely to see total repeal of the federal estate tax in the foreseeable future. However, both Republican and Democratic Presidential candidates support estate tax reform. Realistically, such reform...
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Apr
The Door Is Closing – Unique Gift and Estate Planning Opportunities in 2012
2012 is truly an exceptional year to do estate planning. The estate, gift, income and generation skipping transfer (GST) tax laws are the most favorable to taxpayers since the 1940s, or possibly ever, and are scheduled to become far less favorable in 2013. That gives taxpayers li...
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