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Latest Blog Posts
Private Family Foundations
Posted on: February 5th, 2015
A logical way to involve your family in current and future charitable endeavors. ...
How to Make a Family Meeting a Successful Part of the Estate Planning Process
Posted on: January 21st, 2014
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Organize Information for Your Family
Posted on: September 16th, 2013
Think for a few moments about what would happen if you suddenly became incapacitated or died. Would your spouse or family know what to do? Would they know where to find important records, assets and insurance documents? Would they be able to access (or even know about) online accounts or files on your computer? Would they know whom to ask if they need help?...
Value of having a "Plan" in Estate Planning
Posted on: June 5th, 2013
All too often, estate planning is viewed as a transaction: a will, a living trust, powers of attorney, etc. But the best planning happens when the professional can get to know the client on a deeper level, to uncover hopes, dreams and aspirations. ...
Paying for College . . . and accomplishing estate planning too
Posted on: January 30th, 2013
With higher education costs outpacing inflation by 5-6% per year, and the average cost of a four-year public school at nearly $20,000 per year (double that for private schools) it’s no surprise that many parents and grandparents are deeply concerned about how they will pay for higher education....
Young Adults Need Estate Planning, Too
Posted on: January 17th, 2013
Once a child turns 18, parents lose the legal ability to make decisions for their child or even to find out basic information. Learning you cannot see your college student's grades without his/her permission can be mildly frustrating. But a medical emergency can take this frustration to a completely different level....
What and When Should You Tell Your Children About Their Inheritance?
Posted on: January 14th, 2013
Not many parents like to talk to their children about their wealth. How much money people have is usually considered a private matter, something it's not polite to talk about. But not talking to children about how much they may inherit can leave them unprepared to handle even a modest amount....
Estate Planning in 2013 and Beyond under the New Tax Law
Posted on: January 9th, 2013
The recent tax legislation dealing with the "fiscal cliff" included significant revisions to the estate tax law that will affect estate planning for the foreseeable future....
Four More Common Estate Planning Mistakes
Posted on: August 8th, 2012
Here are four more common mistakes in estate planning. If your plan is in place and current, this will serve as more validation that you are on the right track....
Treating Children Fairly Does Not Necessarily Mean Equally
Posted on: July 28th, 2012
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5 Common Estate Planning Mistakes to Avoid
Posted on: July 3rd, 2012
From time to time, it’s good to review why having a complete, up-to-date estate plan is so important. In addition to confirming our own actions, it can provide us with valuable information to pass along to friends and family who, for whatever reasons, have yet to act. So, here are five common estate planning mistakes to avoid....
Facebook Founders Use Estate Planning Technique for $200 Million Tax-Free Transfer
Posted on: May 18th, 2012
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Blended Families Underscore the Need for Estate Planning
Posted on: April 27th, 2012
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Advance Directives/Living Wills are a Critical Component of Estate Planning
Posted on: April 26th, 2012
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Paying for College . . . and accomplishing estate planning too
Posted on: February 6th, 2012
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Planning Opportunities Available to (not just) Affluent Families
Posted on: January 24th, 2012
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Create successful wealth transfers with open communication
Posted on: January 9th, 2012
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FUTA Surtax is no Longer in Effect
Posted on: November 14th, 2011
Beginning July 1, the 0.2% federal unemployment tax (FUTA) surtax is no longer in effect....
Pension Limits Indexed for 2012
Posted on: October 24th, 2011
On October 20th, the IRS published the enhanced pension limits for 2012....
IRS Extends Deadline for Second Offshore Voluntary Disclosure Offer
Posted on: August 30th, 2011
In light of Hurricane Irene, IRS has extended the deadline for U.S. taxpayers with income in undisclosed offshore accounts to take advantage of the 2011 Offshore Voluntary Disclosure Initiative (OVDI) to Sept. 9, 2011....
2011 IRS Nationwide Tax Forum Update
Posted on: August 22nd, 2011
It was an information packed few days at the 2011 IRS Nationwide Tax Forum last week as I joined thousands of colleagues...
Offshore Settlement Deadline Looms as Aug. 31 Draws Near
Posted on: August 9th, 2011
IRS has warned U.S. taxpayers hiding income in undisclosed offshore accounts that they are running out of time to take advantage of the soon-to-expire 2011 Offshore Voluntary Disclosure Initiative (OVDI), which will expire on Aug. 31, 2011. ...
IRS Warns Employers about Bogus EFTPS E-mail Scam
Posted on: July 22nd, 2011
The IRS is advising employers to be aware of a bogus e-mail scam...
Retention of Tax Records
Posted on: July 16th, 2011
How long should I retain personal income tax records? This is a question that I hear again and again....
IRS Gives Certain Individuals Extra Time to File FBARs for Pre-2010 Years
Posted on: June 20th, 2011
In a Notice, IRS has extended the deadline for persons who have signature authority over, but no financial interest in...
IRS has no Current Plans to Increase Standard Mileage Rates
Posted on: May 13th, 2011
The IRS stated during the May 12 payroll industry conference call that it has no current plans to increase the standard mileage rate of 51 cents per mile for business miles driven...
Non-Filers
Posted on: May 5th, 2011
The 2010 individual tax return due date of April 18, 2011 has now come and gone and many taxpayers are still on the sidelines....
First Quarter 2011 Tax Developments
Posted on: April 18th, 2011
There were a number of important tax developments in the first quarter of 2011....
Tax Changes Affecting Individuals in the 2010 Health Reform Legislation
Posted on: March 29th, 2011
I'm writing to give you a brief overview of the key tax changes affecting individuals in the recently enacted health reform legislation....
What are Your Chances for Being Audited?
Posted on: March 15th, 2011
IRS has issued its annual data book, which provides statistical data on its fiscal year (FY) 2010 activities....
Be Aware of the “Wash Sale” Rules
Posted on: February 28th, 2011
In connection with your stock or securities transactions, it's important for you to be aware of the “wash sale” rules....
2011 Offshore Voluntary Disclosure Initiative
Posted on: February 16th, 2011
The IRS, February 8, 2011, announced a new 2011 Voluntary Disclosure Initiative (OVDI) for taxpayers to disclose their unreported offshore accounts....
Tax Season Delay for Certain Filers-I’m Just the Messenger
Posted on: February 8th, 2011
The IRS has announced a delay in the start of tax season for some individual taxpayers affected by the Tax Relief Act of 2010...
Federal judge rules the Patient Protection and Affordable Care Act is unconstitutional in its entirety [Florida v. HHS, (DC FL 1/31/2011) 107 AFTR 2d 2011-416]:
Posted on: February 3rd, 2011
On January 31, a federal judge sitting in Pensacola, FL ruled that the Patient Protection and Affordable Care Act is unconstitutional....
Tax Reform 2011?
Posted on: February 1st, 2011
In the State of the Union Address, President Obama mentioned an interest in tax reform....
2010 Tax Relief Act Creates a 100% Write-off for Heavy SUVs Used Entirely for Business
Posted on: January 27th, 2011
Although generous tax breaks for gas-consuming heavy SUVs have in the past raised the ire of Congress...
House Votes to Repeal Health Care Reform Law
Posted on: January 21st, 2011
On January 20, the House of Representatives by a vote of 245-189 approved H.R. 2, the “Repealing the Job-Killing Health Care Law Act.”...
IRS Announces Processing of Delayed Returns to Begin February 14
Posted on: January 21st, 2011
The Internal Revenue Service plans a Feb. 14 start date for processing tax returns delayed by last month’s tax law changes....
IRS is a Step Closer to Knowing Exactly What Your Cost Basis is on that Stock
Posted on: January 20th, 2011
The IRS has issued final regulations explaining the complex basis and character reporting requirements that apply for most stock acquired after 2010...
Can you Deduct your Club Dues?
Posted on: January 17th, 2011
Like many other enterprises, your business may pay club dues to one or several types of organizations....
Supreme Court Holds that Medical Residents Working Full-time were Employees for FICA Purposes
Posted on: January 12th, 2011
The Supreme Court, affirming a decision by the Court of Appeals for the Eighth Circuit, has in a unanimous decision upheld the validity of regs that disqualified medical residents...
Three Extra Days to File and Pay
Posted on: January 11th, 2011
Taxpayers, nationwide, will have until Monday, April 18, 2011, to file their 2010 returns and pay any taxes due....
IRS Warns-Tax Delays Coming
Posted on: January 1st, 2011
Because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010...
Employee's Social Security Tax Rate for 2011 is Reduced from 6.2% to 4.2%
Posted on: December 30th, 2010
The Federal Insurance Contributions Act (FICA) imposes two taxes on employers and employees, an old-age, survivors, and disability insurance (OASDI) tax, commonly referred to as social security tax, and a hospital insurance (HI) or Medicare tax....
Expensing and Additional First-year Depreciation in the 2010 Tax Relief Act
Posted on: December 29th, 2010
The recently enacted 2010 Tax Relief Act includes a wide-ranging assortment of tax changes affecting both individuals and business....
Rule Allowing Tax-free IRA Distributions of up to $100,000 if donated to Charity, is Retroactively Extended through 2011
Posted on: December 29th, 2010
The 2010 Tax Relief Act extends the tax-free qualified charitable distribution rules for two years (through 2011)....
2010 Tax Relief Act Key Provisions
Posted on: December 22nd, 2010
The recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” is a sweeping tax package...
2010 Tax Relief Act's Two-Year Estate Tax Planning “Sunset Relief”
Posted on: December 21st, 2010
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Relief Act), was signed into law by the President on December 17....
IRA Rollover for 2010
Posted on: December 14th, 2010
If the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 passes as expected, it will restore the IRA Charitable Rollover for 2010 and permit its use in all of 2011....
President Announces “Framework for a Bipartisan Agreement” on Extending Bush-era Tax Cuts
Posted on: December 8th, 2010
Late on Dec. 6, President Obama announced that the Administration and the Republicans had arrived at a “framework for a bipartisan agreement”...
