NC Gift Tax

Tax Planning for Family Loans

Posted on: June 19th, 2015
​Lending money to a relative might happen once, twice, or several times throughout one’s lifetime. If the lender does not plan well for the loan, taxes could be imposed....

Avoid Charity Frauds

Posted on: December 28th, 2013
Many people in North Carolina try to take advantage of year-end tax deductions, including tax-deductible contributions to charities. Legitimate charities help serve many purposes in communities and for causes that may have personal meaning for those making donations. ...

NC 529 College Savings Deduction Repealed 2014

Posted on: November 25th, 2013
The North Carolina state tax deduction for contributions made to 529 College Savings Plans will be repealed effective January 1, 2014. Before this date, taxpayers are able to deduct $2,500 contributions annually. ($5,000 for married taxpayers filing jointly.)...

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. ...

3 Tax Benefits of Education Trusts

Posted on: August 30th, 2013
rustCounsel’s Gregory Herman-Giddens will present ‘Education Trusts and 529 Plans: Estate Planning Strategies for College Savings’ On September 5th in a 60-minute teleconference through the National Constitution Center....

Checklist for Estate Planning in 2013

Posted on: June 27th, 2013
Now that the year is halfway over and theAmerican Taxpayer Relief Act’s (ATRA) “permanent” changes may be altered once again—and North Carolina Tax Reform has yet to establish definite changes—our estate planning lawyers in North Carolina created a list of three steps you can take by the end of 2013....
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