President-elect Obama’s tax plan
...$50,000. Double the tax credit for college expenses to $4,000. Create a 10% mortgage tax credit for those who don’t itemize. Provide a $1,000 rebate funded by a windfall-profits tax...
...$50,000. Double the tax credit for college expenses to $4,000. Create a 10% mortgage tax credit for those who don’t itemize. Provide a $1,000 rebate funded by a windfall-profits tax...
...no later than Dec. 31, 2008, by making a completed gift. Unused annual exclusions cannot be carried over to future years. Planning Point: A gift must be “complete” in order...
...complicated, but at its heart is the miracle of compounding. Over the course of 60 years, assuming an 8% rate of return, $200,000 in an IRA can pay out more...
By Parag P. Patel, Esq. www.patellawoffices.com During our lifetime, most of us strive to create and build upon our net worth. We generate savings, purchase a home, and eventually invest...
...payment card transactions (credit and debit cards) will be required to report a merchant’s annual gross payment card receipts to the IRS (and to the merchant). The new law also...
...for a succession plan are: Who will lead the company? Who will buy out the deceased partner? And in the case of a family business, will the successor come from...
...the direction of a potential creditor; Carefully examine the decedent’s checkbook and check register for recurring payments, as these may indicate an existing debt; Contact the issuer of each credit...
...the property. Litigated solutions to these problems ignore the complex emotional issues that may underlie the dispute. Probate courts are also the forum for conservatorship and guardianship proceedings. Disputes may...
...know something of the rules and regulations governing stretch IRAs, look for an advisor with an advanced education in IRA planning. Citations. 1 investmentnews.com/apps/pbcs.dll/article?AID=/20080501/REG/74256949/1031/RETIREMENT 2 kiplinger.com/retirementreport/features/archives/2006/06/Cover_Jun2006_03_01.html 3 irs.gov/pub/irs-pdf/p590.pdf 4 moneycentral.msn.com/content/Taxes/Taxshelters/P33760....
...New York City and merely visited New Orleans, and that her later visits to New Orleans differed in no material respect from those made earlier. It was also argued that...
...third-party trust does not need to include a D-4 “payback” provision reimbursing the State for the medical assistance of the beneficiary upon the beneficiary’s death. References http://www.seniorlaw.com/snt.htm http://www.nsnn.com/frequently.htm http://www.elderlawanswers.com/elder_info/elder_article.asp?id=2742#6 http://www.wid.org/programs/access-to-assets/fact-sheets/special-needs-or-supplemental-needs-trusts...
Could joint tenancy, one of the most common forms of holding title to assets, lead to an estate planning disaster for your heirs? Joint tenancy, often called “joint tenants with...