President-elect Donald Trump has proposed cutting the top marginal income tax rate to 33% as well as eliminating the 3.8% net investment income tax. Mr. Trump has also proposed an overall cap on [...]
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If you are 70 1/2 or older and subject to required minimum distributions from your IRA, consider using Rollover Required Minimum Distributions up to $160,000 to make charitable gifts. You must [...]
Effective January 1, 2017, Congress implemented critical changes to Section 831(b) of the United States Tax Code when it passed the Protecting Americans From Tax Hikes Act of 2015 (“PATH”) as [...]
The IRS has recently committed substantial audit resources toward small and mid-market companies that are involved with or have formed captive insurance companies under Section 831(b) of the [...]
Pennsylvania is offering a tax amnesty program. Act 84 of 2016 authorized the Pennsylvania Department of Revenue to administer a Pennsylvania Tax Amnesty Program. The Amnesty period will run from [...]
On August 4, 2016, the IRS issued proposed regulations that would eliminate most valuation discounts for family-owned entities. The proposed regulations will be effective 30 days after they [...]
Assets owned in a revocable living trust go directly to named trust beneficiaries when you die, eliminating the process of probate from their assets. That can make a living trust a valuable [...]
A Healthcare Power of Attorney may be one of the most important documents a person executes and has in effect, especially for a young adult. Many families plan for Mom and Dad with the possible [...]
President Obama recently signed the Defend Trade Secrets Act into law. The bill raises trade secret protection to a federal cause of action and attempts to create more consistent protection for [...]
The phase-out of Pennsylvania’s Capital Stock Tax & Franchise Tax was final as of January 1, 2016. This phase-out had been proposed for many years, however, the elimination of the tax [...]
