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Home / Taxing Issues
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Taxing Issues 
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Last month, the House of Representatives passed the Small Business Jobs Tax Relief Act of 2010 (the ‘Act’) which, if signed into law, would significantly affect the potential benefits of grantor retained annuity trusts (GRATs).
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The estate tax law remains in flux, but the astute taxpayer views this period of uncertainty as a window of opportunity.
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A CRAT involves a gift of property to a trust where the grantor retains the right to a payment of an annuity (not less than 5% per year) from the trust either for life or a term of years (not to exceed 20 years if it is a term of years), with the remainder in the CRAT at the end of the term to pass to one or more charities (including a private foundation).
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The new health care legislation includes an increased and expanded Medicare tax that will have a potentially significant impact on wealthy clients.
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Low interest rates make this an excellent moment to shift assets to your heirs.
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Recently President Obama signed into law H.R. 4462, which allows the accelerated deduction of cash charitable contributions made for the benefit of Haitian victims.
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The current economic environment has had negative implications on most households and businesses in the United States.
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Are you ready for one of the biggest years in investment rule-change history? With 2010 only weeks away, the volume on the impending Roth IRA conversion rule-changes is growing by the day.
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Thanks to the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), January 1, 2010 could be an important day to many people: beginning on that date, anyone holding a traditional IRA can convert to a Roth IRA regardless of their adjusted gross income (AGI). Historically, only those with an AGI below $100,000 were eligible to take advantage of this powerful savings vehicle.
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In the world of individual retirement accounts (IRAs), there are basically two types: traditional IRAs and Roth IRAs.
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Can your spouse really force you to pay your brother-in-laws taxes? Strangely that answer could be “yes” if your will and your insurance policies are not coordinated.
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