Tags » Estate Tax

New tax has local Funeral Directors seeing red

Tim Baragar has been in the funeral business for a long time. He received his Funeral Director’s in 1982 and since 1996 he has operated  277 more words

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Ed Lloyd & Asssociates PLLC- Known For Their Striking Performance and Immense Knowledge

Ed Lloyd & Associates is a trusted source from where you can obtain a quality accounting and tax planning services in the United States. The owner of the company- Ed Lloyd is a dedicated individual and has been active in the field for decades and is well known among different CPA firms owing to his sheer knowledge and professionalism.  206 more words

Certified Tax Coach

Did I Pay My Fair Share of Income Taxes?

Here we are again approaching the deadline for filing income tax returns. I’ve just finished an all-day session with my tax software and miscellaneous 1099s, receipts, cancelled checks and the like. 925 more words

Taxes

The Artist’s Legacy – Gifts of Art to Family and Friends

On January 1, 2015, the gift and estate tax exemption increased to $5.43 million per person and to $10.86 for a married couple.  Artists who hope to take advantage of the increased exemption face unique challenges when making gifts to family and friends of visual art they have created.  459 more words

Tax

How a Grantor Retained Annuity Trust (GRAT) Can Help Transfer Wealth

The primary use of a Grantor Retained Annuity Trust (GRAT) is to remove certain assets with a high likelihood to appreciate from the grantor’s estate at a reduced gift tax valuation. 514 more words

Gift Tax

How a Qualified Personal Residence Trust Can Reduce Gift/Estate Taxes.

A Qualified Personal Residence Trust (QPRT) is a unique form of the Grantor Retained Income Trust (GRIT), and is treated as a grantor trust for federal tax purposes. 774 more words

Gift Tax

Deductions of Charitable Contributions from Income and Death Taxes

Estate of Eileen v. IRS, 144 T.C. 6 (Feb. 19, 2015).

The tax code (income and estate taxes) allows for deductions in the amount of money actually donated to charity or “permanently set aside.”  (Estate taxes: form 1041, line 13; Income Taxes form 1040 Schedule A lines 16-19). 356 more words

Deduction