Posts Categorized: Taxes

New Budget Act changes law on Social Security

The 2016 Budget Act has 2 significant changes those who are entering their retirement years need to know about.  Click Here to see an article that discusses these changes; adjustments for Medicare Part B and Part D premiums and the...

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Common Questions About Estate Tax Portability

Many people have questions about estate taxes, portability, and what it all means for them. While estate, gift, and generation-skipping transfer tax calculations can be a little intimidating, there are some basic concepts that can...

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Trusts and Federal Income Taxes: Part 2 of 3

Contrary to popular belief, trusts rarely produce large tax savings. Many people create trusts to avoid placing their assets through probate courts. Thus, although trusts can help you save money on probate expenses, they may...

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Trusts and Federal Income Taxes: Part 1 of 3

The Internal Revenue Service (IRS) uses special tax rules for trusts. Understanding these tax rules is imperative for estate planning attorneys. According to the IRS, a trust established under state law must comply with the...

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