November 2008 Posts

  • NC Gift Tax to be Repealed?

    ​Budget negotiators for the North Carolina House and Senate agreed on tax breaks in the 2008-09 spending plan, which include, most notably for me and many of my clients, a repeal of the state gift tax. ...
  • Report Foreign Bank Accounts Totaling Over $10,000

    The IRS is increasing its efforts to track down American taxpayers who have undeclared foreign bank accounts (including US citizens living abroad). ...
  • IRS Announces 2009 Standard Mileage Rates

    The Internal Revenue Service has issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes....
  • “Aging in America” Recording Available on NAELA Webiste

    A recorded version of the National Academy of Elder Law Attorneys (NAELA)’s public webcast "Aging in America: How to Plan for it" is available for through November 30 on the NAELA website....
  • Reverse Mortgage Limits Double

    The Housing and Economic Recovery Act of 2008 more than doubled the home value (now up to $417,000) to be used nationwide for establishing the size of loans available from the federal reverse mortgage program. ...
  • NAELA Announces New Senior Housing Locator Website

    The National Academy of Elder Law Attorneys (NAELA) has unveiled its new Senior Housing Locator powered by SNAPforSeniors®, an online navigational tool designed to help easily find senior housing anywhere in the country....
  • Obama and Taxes

    http://www.kiplinger.com/features/archives/2008/11/Obama_Tax_Plan_Update.html...
  • NC Has 11th Highest Income Tax Rate in U.S.

    Our top rate is now 7.75%, just slightly under Idaho’s top rate of 7.8%. Even New York has a lower top rate. Before our top rate of 8.25% expired, we were tied for 9th place with Hawaii. ...
  • Tax Policy Center Report on Federal Estate Tax

    Here’s a recent comprehensive report from the Urban-Brookings Tax Policy Center entitled Back from the Grave: Revenue and Distributional Effects of Reforming the Federal Estate Tax. ...