Taxes on Investment Income Are Coming!

Mar 28, 2012 | Tax Law

As you may recall, the 2010 Health Care Bill included an additional 3.8% “Medicare Tax” tax on net investment income, commencing on January 1, 2013. This new “Medicare Tax” will be imposed on taxpayers with adjusted gross income in excess of $250,000 for married...

Non-Profit Compensation – Beware of IRS Approval Requirements

Dec 31, 2011 | Tax Law

Most of us engage with non-profits in our community because we are committed to their mission, and as a result of this passion, often times those related to us also become engaged in supporting our chosen organizations. In addition, these organizations are often...

Who Will Manage Your Affairs?

Dec 7, 2011 | Estate Planning

Consider for a moment that you are traveling through life carrying along all of your “stuff” (a very technical term for your assets), including things like your home, investments, real estate, bank accounts, your car, etc. If something were to happen in your life and...

IRS Issues Guidance on Marital Portability Election

Oct 10, 2011 | Tax Law

In December, 2010 the concept of “portability” was adopted in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.  Portability essentially allows a surviving spouse to use their own exclusion amounts and any remaining unused exclusion...

IRS Deficiency? What Are Your Options?

Oct 1, 2011 | Tax Law

For those who have a deficiency with the IRS, often the question is what are the options. Failing to address a deficiency with the IRS can result in liens on your assets, a sweep of your bank account and/or the garnishment of your wages. Assuming the time period to...
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