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News & Updates
Estate and Gift Tax Part of the Budget Deal
For the first time in more than a decade, we finally have long-term clarity about the estate and gift tax system. I had really hoped to blog the details in real time. But, unfortunately, I got hit by a combination of bronchitis, a sinus infection and the flu, which had me out of commission for...
LucasFilm Sale Timing Likely Because of Estate, Capital Gains Taxes
George Lucas was likely motivated by the looming 2013 tax increases when he chose to sell LucasFilm in 2012, according to this Wall Street Journal Article. As I previously posted here, there are unprecedented estate tax and capital gains tax savings opportunities that are set to expire as part of the "fiscal cliff" at the...
Time is Running Out to Save Unprecedented Amounts in Taxes
For the rest of 2012, every American can transfer up to $5.12 million free of federal gift, estate and generation-skipping transfer tax—and estate planners are doing everything they can to motivate their clients to take advantage of this unprecedented opportunity. To understand why this is such a big deal, we only have to look at...
Get Ready for These Five New Taxes on January 1, 2013
Now that the health care law has been declared constitutional, several significant provisions will become effective on January 1, 2013. Tax #1: 3.8% Surtax on Investment Income This new tax will be levied on net investment income if modified adjusted gross income is more than the “threshold amount” based on filing status. For married taxpayers...
