If you have a qualified retirement plan or Individual Retirement Account (“IRA”), be sure to verify two things: Have you designated the primary and contingent beneficiary or beneficiaries who will receive any remaining...
Read MoreThe recently enacted Tax Cuts and Jobs Act makes it possible to set aside funds that can both accumulate and be withdrawn tax-free to pay for tuition at public, private or religious elementary and secondary schools—at least at...
Read MoreBy: Henry Grix Even if Congress fails this autumn to overhaul the Internal Revenue Code and, conceivably, repeal the federal “death” or estate tax, 2018 can be expected to bring relief in the form of taxpayer-friendly inflation...
Read MoreBy: Henry Grix The new administration in Washington, supported by Republican majorities in Congress, has pledged substantial changes to federal tax laws and regulations. One change may – or may not...
Read MoreBy Henry Grix Fewer than 1% of Americans are now subject to federal gift, estate and generation-skipping transfer tax because those taxes do not apply unless the value transferred during life and at death exceeds an “exclusion...
Read MoreBy Henry M. Grix A recent Tax Court decision is a cautionary tale about the importance of following IRS rules to substantiate a deduction for non-cash charitable contributions. Taxpayers must attach a qualified appraisal in...
Read MoreBy Henry Grix Prenuptial agreements not only govern spousal rights in the event of divorce or death but they also may address income, gift and estate tax issues that arise during a marriage or after the death of a spouse. By a...
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