Recently the IRS Office of Chief Counsel advised that taxpayers with a record of prompt filing of returns and prompt payment of (or prompt arrangement to pay) their federal income taxes for at [...]
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On June 21, 2018, the United States Supreme Court decided in South Dakota v. Wayfair, Inc. that South Dakota is permitted to collect sales tax from online retailers who sell in the state and have [...]
The Tax Cuts and Jobs Act of 2017 increased the lifetime gift and estate exclusion to about $11.2 million per person (twice this for married couples who plan correctly) from the previous limit of [...]
One pitfall of gifting appreciated assets is the “Kiddie Tax.” The Kiddie Tax is designed to stem revenue losses from shifting investment income from a high tax rate donor to a low tax rate [...]
If you are age 70½ or older, an IRA rollover is a simple and easy way to use your individual retirement account to reduce taxes and help a charitable organization. Consider the advantages: Your [...]
Larry Blair spoke on December 14, 2016 on how tax changes in 2017 will impact you with D.B. Root & Company. To learn more and listen to the webinar, please click here.
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 [...]
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 [...]
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 [...]
