by Finley Stetson | Oct 20, 2022 | Tax and Business Law, Taxes
You can keep more money from the IRS next year, thanks to inflation.. The Internal Revenue Service will allow Americans to shield more of their income from taxes in 2023 because of higher inflation, the agency announced Tuesday, raising income thresholds for all tax...
by Finley Stetson | Nov 18, 2021 | Estate Planning, Last Will & Trusts, Probate, Tax and Business Law, Taxes, Trusts, Wills, Trusts & Estate
People love their pets. But Madonna has taken her love to a whole new level. A little over twenty years ago she gave her home to a corporation named after her dog, Gunther. According to this story, Gunther and his descendants lived in the house ever...
by Finley Stetson | Nov 8, 2021 | Estate Planning, Last Will & Trusts, Tax and Business Law, Taxes, Trusts, Wills, Trusts & Estate
On October 29, 221 a new draft of the “Build Back Better” bill was released. That new version of bill eliminated the proposed reduction in estate tax exemptions from $11.7 million to about $6 million. So unless there are additional changes to the law...
by Finley Stetson | Oct 12, 2021 | Estate Planning, Last Will & Trusts, Probate, Tax and Business Law, Trusts, Wills, Trusts & Estate
Many of our clients are concerned about whether estate tax exemptions will be reduced this year. Last month the House Ways and Means Committee released a bill that provided, in part, for estate and gift tax exemptions to be reduced to about $6 million (from $11.7...
by Finley Stetson | Oct 1, 2021 | Estate Planning, Last Will & Trusts, Probate, Tax and Business Law, Taxes, Trusts, Wills, Trusts & Estate
Here is a question that we receive on an almost daily basis from our clients: “I’ve read in the news that the estate and gift tax exemption is going to be reduced. How can I take advantage of the current exemptions before they are cut?” Right now the current gift...
by Finley Stetson | Jan 9, 2018 | Business Law, Tax and Business Law, Taxes
In December 2017, Congress passed, and President Trump signed a sweeping tax reform bill commonly known as the Tax Cuts and Jobs Act. This Act contains significant changes that will impact your estate planning and income tax situation going forward. Estate Tax Changes...
