By way of background, a Roth IRA is a retirement plan where the funds contributed to the plan do not qualify for an income tax deduction, but are also not taxed upon withdrawal. On the other [...]
READ MORE
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 [...]
The Achieving a Better Life Experience (ABLE) Act has passed both the House and the Senate with bi-partisan support and is on its way to the President to become law. The Act will allow families [...]
In July of 2014, the Internal Revenue Service issued Form 1023-EZ to allow charitable organizations seeking recognition of tax-exempt status under Section 501(c)(3) an easier, online, three page [...]
A Qualified Personal Residence Trust (“QPRT”) is a trust into which you transfer a personal residence. The QPRT document gives you (and often your spouse) the right to live in the [...]
This is the first in a series on post-mortem planning techniques to manage taxes and optimize estate planning following death. It’s difficult, to say the least, to alter your estate plan after [...]
In the recent case of Bross Trucking, Inc., the Tax Court provided further guidance to taxpayers about a technique we have long known to be beneficial to shareholders of C corporations. When a C [...]
