Gift Tax
Same-Sex Marriages Recognized by Jurisdiction of Ceremony
Last week the Internal Revenue Service announced that valid same-sex marriages will be recognized for federal tax purposes based on the where…
Tax Concerns When Modifying Trusts
In May 2013, the Internal Revenue Service issued a Private Letter Ruling addressing tax concerns resulting from a trust modification agreement. PLRs…
Estate Tax Exclusion Amount for 2012 to Increase to $5,120,000
The IRS announced today that the amount exemption from estate taxes will increase next year. For an estate of any decedent dying…
Estate Tax Claw Back – Don’t Worry About It, Says AALU
Since the enactment of TRA 2010 in December of last year, tax practitioners have been concerned that gifts made during 2011 and…
Tax Law Changes in Obama’s Proposed 2012 Budget
Thanks to Keebler and Associates, LLP, CPAs for portions of this summary: Limit the tax rate that certain individuals will get a…
Obama Signs 2010 Tax Relief Act
This afternoon, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. This legislation, negotiated by the…
Middle Class Tax Cut Act of 2010 – Proposed Bill
The legislative text and summary of the Middle Class Tax Cut Act of 2010, released yesterday by Senate Finance Committee Chairman Max…
The Time for FLPs or FLLCs is Now!
This is from Steve Akers’ recent presentation, Estate Planning in Light of One-Year ‘Repeal’ of Estate and GST Tax in 2010: “the…
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….
Year End Gift Checks – make sure you do it right
Many people are aware that they can give any number of other people up to $13,000 per year under the federal gift…
