Business owners decide to sell their businesses for a variety of reasons. Typical reasons to sell may involve a desire to capitalize on their investment and hard work, a desire to retire, or possibly because the business has not been as profitable or enjoyable as the owner had initially desired. No matter the reason for...Read More
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Act) is coming to an end on December 31, 2012. The ACT revived the Federal Estate, Gift and Generation Skipping Transfer taxes retroactively to January 1, 2010. It also introduced the $5,120,000 exclusion amount for Federal Estate, Gift and Generation Skipping Transfer...Read More
These are interesting times. We have the elections in a few days. We have the possible expiration of the Bush era tax cuts in about sixty days. What is at stake and what might happen? Although you might think the estate tax is only for the very wealthy and could never apply to you, be...Read More
My home might get foreclosed and I might have a tax liability as a result? Are you kidding me? Unfortunately, not, but with some proper planning a person in such a situation might be able to avoid a tax liability resulting from the foreclosure. As a result of the decline in the real estate market...Read More
The attached articles were written based on the state of the law as of the date written. The authors of the attached articles assumes no responsibility to update the content of the articles as a result of any changes in the law. Anybody reviewing the attached articles should consult with the authors of the articles, or their professional tax or legal advisor to verify the current status of the law as it relates to their own personal transactions.
