Pending Legislation
Kids in College? North Carolina Income Tax Changes for Parents
Parents are allowed to take a federal and state income tax deduction for each dependent child. However, North Carolina proposed Senate Bill 667 (Equalizer…
Google’s Digital Asset Management Tool
2013 seems to be the year of digital afterlife planning. Last month the North Carolina Senate approved Bill 279, a bill for…
$3M Limit on IRAs in Obama’s Proposal
Individual Retirement Accounts are a top retirement choice for individuals who want to enjoy tax-deferred savings. However, Obama’s new budget plan includes…
Singles & Couples: Muni-Bond Tax Breaks Disappearing–Maybe
What may become part of the “fiscal cliff” drop—and if not, it will be on the 2013 agenda—is the elimination of municipal-bond…
U.S. House Republicans Introduce Bill to Continue Bush Tax Cuts
The proposal provides for a continuation of the current income tax laws for one more year, preventing the scheduled expiration of the…
Another Flip-Flop on Inherited IRA Stretch
Tax season is in full swing, and I was recently out of the office for a few days, so I’m a bit…
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…
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…
Better GRAT While You Still Can
On June 15, 2010, the House of Representatives passed The Small Business Jobs Tax Relief Act of 2010 (the “Act”) which, if…
Health Care Reform Will Bring Higher Taxes
The Health Care Reconciliation bill includes a new 3.8% Medicare tax on investment income, which includes IRA distributions, interest income (including tax exempt), dividends,…
