A typical estate plan includes a will, a financial power of attorney, and an advance directive for health care. Other tools are often used, such as trusts and gifts, to shelter assets from waste and taxes. BACKGROUND Uncertainty has been the catchword in 2010 to describe the state of tax laws governing gifts and estates. […]
Estate Planning Not Just for the Rich http://blogs.ajc.com/atlanta-bargain-hunter/2010/12/06/wes-moss-estate-planning-not-just-for-the-rich/
Beginning January 1, 2011, there is a new reporting requirement that will affect all taxpayers who own rental property (including not only companies, but individuals as well). If the rental property owner pays any service provider $600 or more (in the aggregate over the whole calendar year), the owner must furnish the service provider with […]
Background Non-compete contracts are on the mind of employers and employees alike recently with the passage of a constitutional amendment that dictates a new framework for enforceable restrictive covenants in Georgia. What does this mean for employers and employees? Georgia law, previously only established through court decisions and not under valid Georgia statutes, was restrictive […]
While the new tax law changes in the bipartisan legislation that was enacted in late 2010 were the most significant developments in the fourth quarter of 2010, many other tax developments may affect you, your family, and your livelihood. These other key developments in the fourth quarter of 2010 are summarized below. Please call us for more […]
Under the recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” the federal estate tax, which disappeared for 2010, springs back to life in 2011 and is imposed at the top rate of 35% of the estate’s value after the first $5 million. The following is a brief overview of the […]
The tax laws enacted in the last couple of years contain important income tax and information reporting provisions that are effective for the first time in 2011. To inform you of what’s new in the tax rules, here’s a summary of the key tax changes for 2011, broken down into three categories: Personal Income Taxes, […]
Two pieces of legislation adopted by Congress last year would have imposed increased requirements for filing Forms 1099, beginning with owners of rental property this year (2011) and for all businesses beginning in 2012. Both requirements met with widespread opposition and concerns over the burdensome effect of these requirements on landlords beginning this year and […]
The recently enacted 2012 American Taxpayer Relief Act (Act) is a sweeping tax package that includes, among many other items, permanent extension of the Bush-era tax cuts for most taxpayers, revised income tax rates on ordinary income and capital gains for high-income individuals, modification of the estate tax, permanent relief from the alternative minimum tax […]
The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to […]