So Dem and GOP appear to all agree to extend this years income tax rates to next year - avoiding a jump in income and capital gains taxes when the ball falls on New Years Eve. This has been greeted with great fanfare in the press and an apparent sigh...
By Jean C. Hemphill and Christopher A. Jones
The IRS has published welcome, long-awaited guidance regarding the deductibility of contributions made to a single-member limited liability company (LLC) owned by a charitable organization.
For a variety...
A recent Tax Court decision has
caught the attention of estate planners and appraisers because of its implications
for gifts of undivided interests in real property. The case at issue is Ludwick v. Comm'r, T.C. Memo 2010-104 (May 10, 2010) . In Ludwick...
The IRS has issued final regulations ( T.D. 9582 ) requiring that a provision in a trust, will, or local law that specifically indicates the source out of which amounts are to be paid, permanently set aside, or used for a charitable purpose must have...
With the holidays upon us, it's time to do some planning that can help reduce your tax bill this year.
Contributing to your retirement plan is a fast and easy way to cut
your taxes, while building your nest egg. The federal limit for 401(k)