For many people, an Individual Retirement Account (IRA) can be your most valuable and important retirement asset. However, planning for the transfer of an IRA at one’s death often does not get [...]
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The Internal Revenue Service (“IRS”) has warned of a telephone scam targeting taxpayers. Victims, contacted primarily by phone, are often told that they owe money and must immediately [...]
The Tax Extender Bill has passed through Congress and is expected to be signed by the President. One of the provisions allows individuals who are 70 1/2 or older to make a Charitable IRA [...]
When buyers and sellers enter into an asset purchase agreement, Internal Revenue Code Section 1060 requires that the buyer and seller agree to the allocation of the purchase price to the various [...]
The Internal Revenue Service prohibits a charitable contribution deduction of $250.00 or more, unless the taxpayer substantiates this contribution by a contemporaneous written acknowledgement of [...]
A person creates a Grantor Retained Annuity Trust (GRAT) by transferring assets to an irrevocable trust for the benefit of a beneficiary and retains an annuity interest. A person who establishes [...]
The federal estate tax exclusion has grown from $5,000,000 in 2011 to $5,340,000 in 2014. Beginning in 2011, if properly elected, the unused exclusion of one spouse’s estate could be used by the [...]
