Estate planning is designed to bring clarity and peace of mind, making sure assets are distributed according to a person’s wishes while reducing tax burdens. When significant estates are involved, disputes with the Internal Revenue Service or state taxing authorities...
Estate Tax
IRS Increases Gift and Estate Tax Exclusion: What You Should Know
Many people choose to gift assets to their loved ones while they are still alive so they may see them enjoying the benefits. In 2024, the Internal Revenue Service (IRS) increased the limits for both the gift tax exclusion and the lifetime estate and gift tax exemption...
Guessing Games About Trump’s Estate Tax Proposals
I've received all sorts of "what ifs" for the past year regarding (sigh) President-elect Trump's tax proposals. I hoped my faith in another presidential candidate would provide me another head of state and the ability to avoid the topic altogether. Well, now you can...
Why are You Paying this Optional Tax to the Government?
“For years, the income tax and gift and estate tax laws have been modified and amended to the degree that only tax lawyers and accountants could really make any sense out of them. Now, with the advent of the Tax Reform Act of 1976 and all of its cross implications, not even the tax lawyers and accountants are so sure of themselves.” – Robert S. Taft, New York Law Journal, Dec. 30, 1976
If you Plan on Dying in New York — READ THIS!
“We don’t pay taxes. Only the little people pay taxes.” – Leona Helmsley