December 2009 Posts

  • Don’t Die Today – Tomorrow There Will be No Estate Tax

    We only have a few hours left before the much reviled "death" tax disappears, to be replaced by a complicated and confusing carryover basis regime....
  • NC residents will see a couple of new taxes next year

    Starting tomorrow, North Carolina residents will pay sales taxes on certain digital downloads from the internet, and standard gasoline tax on ethanol. The Triangle Business Journal has a brief article....
  • Roth Conversions – Just Because You Can Doesn’t Mean You Should

    Some financial advisors are warning against a Rush to Roth. The key to is to approach the idea cautiously and do a comprehensive analysis. ...
  • The Estate Tax Will Die Soon

    Just a few days left until the estate tax expires (although for one year only), and retroactive action in 2010 is likely. True death tax haters can track the countdown here....
  • Planning with the Wyoming Close LLC

    What is an LLC? In 1977 Wyoming was the first state to enact laws permitting the creation of a Limited Liability Company. ...
  • No Movement on the Estate Tax

    Here’s a recent article on the estate tax from the WSJ.com. Not exactly objective reporting, more like an opinion piece against the "death" tax. ...
  • 8 Reasons to Convert to a Roth IRA

    As most people know by now, the $100,000 income limit on the ability to convert a traditional IRA to a tax-free Roth IRA will disappear next year. ...
  • When Should You Start on Social Security?

    If you’re close to age 62, it’s probably weighing heavily on your mind. Make sure you carefully consider your options. ...
  • 50 Resources for Starting a Charity

    This posting on executivembaprograms.org has 50 links to other sites that provide information related to establishing and running a non-profit organization. ...
  • When Choosing an Estate Planner

    In looking for estate planning assistance, you should consider the following: 1. Do they concentrate their practice solely in estate planning?...
  • IRS Offers Tips for Year End Donations

    From IR-2009-114 WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years....
  • Immediate Senate Action on Estate Tax Unlikely

    Other than perhaps a one year extension of current law, we are unlikely to see any movement on the estate tax in 2009. CCH Tax Newsletter....
  • House Passes Estate Tax Bill

    As expected the House voted today to extend the current $3.5 million exemption and 45% rate. The final vote was 225-200. ...
  • Deeds – more information required in 2010

    Effective January 1, 2010, all new North Carolina deeds must contain the address of both the grantor and grantee as well as a statement indicating whether the property contains the primary residence of the the grantor. ...
  • House to Vote on Estate Tax Today

    ​The U.S. House of Representatives is scheduled to vote on the estate tax today, but even if legislation passes, Senate approval is necessary. Lots of politics involved for a tax that affects so few people. See what the Washington Post has to say....
  • The Truth about Frivolous Tax Arguments

    Have you ever heard a friend, neighbor, or colleague state that they had found a way to get around paying income taxes, or that certain taxes weren’t really legal? Don’t believe them – many people, including several wealthy actors, have gotten into trouble with the IRS that way....