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 [...]
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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 [...]
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 [...]
With the recent dip in the stock market, now may be an excellent time to consider converting your Traditional IRA to a Roth IRA. Converting your IRA to a Roth IRA will subject your IRA to income [...]
On December 18th, 2015, President Obama signed into law legislation that includes a permanent extension of the qualified charitable distribution (QCD) sometimes referred to as IRA Charitable [...]
The Standard. A trustee must manage a trust according to a “prudent person” standard. A trustee is a fiduciary, which means the trustee’s actions must be in the best interests of the [...]
On December 18, 2015, the Senate passed a $1.1 trillion tax package with over $600 billion in tax breaks. Please find below the changes that made Santa’s nice list. Affordable Care Act [...]
As the end of the year approaches, it may be prudent to consider making gifts and taking advantage of annual gift tax exclusions. For 2015, an individual is permitted to gift $14,000 per [...]
You receive a call at home telling you this is your final notice from the IRS and that the IRS is going to file a lawsuit for taxes owed. This call is a scam. The IRS will never telephone you [...]
Withdrawing From a MEC Owned by a Life Insurance Trust The tax code limits the use of tax benefits of life insurance to accumulate cash with a small insurance benefit. Funding a cash-rich life [...]
