Estate Tax Deferral Offers Relief to Some Business Owners
If a substantial portion of your wealth is tied up in a family or closely held business, you may be concerned that your estate will lack sufficient liquid assets to […]
Are You Familiar with the Latest Rules Affecting Your Estate Planning?
Estate tax law is marking a centennial this year. As you might expect, the rules have changed a bit over the past century. The IRS has placed a high value […]
How to Determine if You Need to Worry About Estate Taxes
Here’s a simplified way to project your estate tax exposure. Take the value of your estate, net of any debts. Also subtract any assets that will pass to charity on […]
Why You Need To Know The Value Of Your Assets
With the gift and estate tax exemptions currently at $5.34 million, you might think that estate valuations are less important. But even if you believe that your estate’s value is […]
Some Taxes Are Deductible On Your Income Tax Return
Are you planning to itemize on your 2013 federal income tax return? If so, it’s likely you’ll claim a deduction for taxes paid. According to IRS statistics, taxes are the […]
Make The Most Of Annual Exclusion Gifts
Recently, the IRS released the 2014 annually adjusted amount for the unified gift and estate tax exemption and the generation-skipping transfer (GST) tax exemption: $5.34 million (up from $5.25 million […]
IRS Expands Eligibility for Marriage-Related Federal Tax Benefits
In response to the U.S. Supreme Court’s June decision regarding same-sex marriage, the IRS recently clarified that married same-sex couples will be treated as married for all federal tax provisions […]
Tax Filing Responsibilities of Estate Executors
Part of your responsibility as the executor or personal administrator of an estate involves making sure the necessary tax returns are filed — and there might be more of those […]