Same-Sex Marriages Recognized by Jurisdiction of Ceremony

Posted on: October 3rd, 2013
Last week the Internal Revenue Service announced that valid same-sex marriages will be recognized for federal tax purposes based on the where the couple’s union took place. ...

Tax Concerns When Modifying Trusts

Posted on: June 17th, 2013
In May 2013, the Internal Revenue Service issued a Private Letter Ruling addressing tax concerns resulting from a trust modification agreement. PLRs are issued when a taxpayer directly requests guidance from the IRS on a specific matter....

3 Ways to Gift for College

Posted on: April 22nd, 2013
Family members have the best intentions when they offer money to cover college expenses, but if they neglect to use a wise gifting strategy they could affect the student’s eligibility for federal aid....

Estate Tax Exclusion Amount for 2012 to Increase to $5,120,000

Posted on: October 20th, 2012
The IRS announced today that the amount exemption from estate taxes will increase next year. For an estate of any decedent dying during calendar year 2012, the basic exclusion from estate tax amount will be $5,120,000, up from $5,000,000 in 2011....

IRS Announces 2013 Tax Figures

Posted on: October 18th, 2012
In Rev. Proc. 2012-41, the IRS has announced various inflation-adjusted tax figures for 2013. Among them: ...

Tax Law Changes in Obama’s Proposed 2012 Budget

Posted on: February 7th, 2011
Thanks to Keebler and Associates, LLP, CPAs for portions of this summary: Limit the tax rate that certain individuals will get a benefit for their itemized deductions - For investors filing joint returns and having income over $250,000 itemized deductions would only reduce the investor’s tax liability by a maximum of 28%. ...
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