Tax News

Pennsylvania Inheritance of $80 Million Dollars Confiscated By Government

September 8, 2012

This is a very unusual case in which a family drilled the safe deposit box of their father to find some rare gold coins. Expecting to enjoy this inheritance or at the worst, to split the value with the government, they were surprised to find that the government confiscated the inheritance and has now won …

A Failed Family Limited Partnership

January 31, 2012

By Dave Frees

Family Limited Partnerships A family limited partnership can clearly be a great estate and business-planning tool but if it is drafted or implemented incorrectly it could cost you money and headaches. Family Limited Partnerships allow families to own and operate a business or series of investments as part of an executor estate plan …

IRS Releases Guidance on Federal Estate Tax Exemption Portability (Notice 2011-82, September 29, 2011)

October 3, 2011

By Douglas L. Kaune

As many of you know, the present Federal Estate Tax Law allows for a surviving spouse to carry forward the Federal Estate Tax Exemption available to his or her deceased spouse at his or her death. To garner the benefits of this “Portability” provision, the Internal Revenue Service (also referred to as “IRS”) does not …

Will the Federal Estate Tax Law Be Modified In 2012? Obama Gives Us A Snippet of Insight.

September 14, 2011

By Douglas L. Kaune

In the past month the estate tax has been back in the limelight. As most of you know, in December of 2010 President Obama signed the Tax Relief Act of 2010. Prior to the ratification of the present law, the federal estate tax was repealed for the 2010 tax year. For 2011 and …

U.S. Rep Ross Wants To Kill The Estate Tax

May 15, 2011

By Dave Frees

Ross along with a small pro- agriculture group of legislatures wants to eliminate the federal estate tax. In the past year there has been a surge of enthusiasm for the repeal of the federal estate tax as congress tried to figure out what do for 2011 and 2012. This past December congress approved legislation that …

Pennsylvania Resident? Property Taxes Too High? Need A Property Tax Appeal?

April 17, 2011

By Dave Frees

Property Tax Appeals Can Lower Taxes of Over Valued Homes and Commercial Real Estate. In this environment, many of our clients in Delaware, Chester, and Montgomery Counties believe that their homes are now overvalued for real estate tax purposes. If you feel that you’re being taxed on a value that’s simply …

Income Taxes, Agents, and Preparers Oh My!

March 26, 2011

By Dave Frees

Are you thinking about having your return done for you? A Brief Income Tax Checklist for those hiring or changing their tax preparer For many clients, the thought of doing your own income tax return is tantamount to doing your own tooth extraction. You probably could, but who wants to. And, the likelihood of making …

Did You Inherit Assets From An Estate in 2010? There May Be Taxes You Don’t Even Know About

September 27, 2010

By Dave Frees

Capital Gains Taxes For Trusts, Estates, and Beneficiaries of Estates in 2010 Are The Subject of IRS Attention. By: Attorney David M. Frees III If you inherited assets from a trust or an estate where the decedent died during 2010 you probably thought that you were spared the worries and expenses of the federal …

Inherited IRA: What You Need to Know

September 7, 2010

By Douglas L. Kaune

The Inherited IRA can provide powerful tax deferral benefits for named beneficiaries. In order to optimize the tax deferral options, the original owner must properly structure beneficiary designations in accordance with I.R.S. rules and regulations. The I.R.S. has laid a mine field of beneficiary designation traps that can either serve to reduce or eliminate the …

The Latest Federal Estate Tax Motion Is Dead – What Now?

July 24, 2010

By Dave Frees

Analysis of the most recent death tax reform issues in the Senate along with analysis of what to do with your estate planning documents...

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Pennsylvania Inheritance of $80 Million Dollars Confiscated By Government

A Failed Family Limited Partnership

IRS Releases Guidance on Federal Estate Tax Exemption Portability (Notice 2011-82, September 29, 2011)

Will the Federal Estate Tax Law Be Modified In 2012? Obama Gives Us A Snippet of Insight.

U.S. Rep Ross Wants To Kill The Estate Tax

Pennsylvania Resident? Property Taxes Too High? Need A Property Tax Appeal?

Income Taxes, Agents, and Preparers Oh My!

Did You Inherit Assets From An Estate in 2010? There May Be Taxes You Don’t Even Know About

Inherited IRA: What You Need to Know

The Latest Federal Estate Tax Motion Is Dead – What Now?

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