Month: May 2009
NC Needs to do More to Combat Fraud Against the Elderly
The North Carolina Center for Public Policy Research just issued a press release with the results of a study indicating that North Carolina needs…
U.S. Tax Court Rules on Exceptions to IRA Early Distribution Penalty
The United States Tax Court, in Benz v. Commissioner, 132 TC No 15, recently ruled that a taxpayer taking a series of equal periodic…
Possible Tax Increases to Pay for Health Care Reform
As reported in the Giftlaw eNewsletter, the potential tax increases to pay for healthcare reform may include the following: 1. Employer Health…
Caring for an Elderly Parent – Letting Go
For those who have been through a similar experience, this poignant article Letting Go of My Father, which details Jonathan Rauch’s struggles in…
Is your IRA heir-tight? Probably not…
The recent Kiplinger.com article How to leave an IRA that’s heir-tight contains lots of good information and advice about IRA distribution planning, but there’s…
A Short Story on Asset Protection
I had a new client come in yesterday, and we were discussing including asset protection in his estate plan. He mentioned he…
“Green Book” Proposals on Estate and Income Tax
President Obama’s Green Book contains proposals for modifying the GRAT rules, eliminating valuation discounts for transfers of interest in many family limited…
NC 529 Plan Eliminates Two Investment Options
North Carolina’s 529 College Savings Plan will be eliminating two investment options – the CollegeHorizonFunds and the Balanced Fund – due to…
IRS to Hire 4500 New Revenue Agents
Taxes are going up, and so is the number of revenue agents at the IRS! This is from the latest GiftLaw eNewsletter:…
Explanation of Obama’s Revenue Proposals
Administration Proposes Tax Cuts For Middle Class Families and Small Businesses, Closing Corporate Tax Loopholes ‘Greenbook’ Details Efforts to Build Prosperity,…
