Blog - "Altman Speaks"

October is National Special Needs Law Month

In October, special needs planning attorneys throughout the country work to educate those with special needs, their families, and caregivers about their legal needs. Special needs planning can involve special needs trusts, care management, advocacy to preserve educational or civil rights, public benefits such as Supplemental Security Income (SSI) and Medicaid, and many other important issues. […]

Beware Larger Tax Bill - Check Your Income Tax Withholding!

Last month, the IRS updated Publication 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), to reflect a key change made by the Tax Cuts and Jobs Act (TCJA). As a result of this change, effective Jan. 1, 2018, the backup withholding tax rate dropped from 28 percent to 24 percent. Backup withholding applies in different […]

Estate Planning Awareness Week 2018

We are pleased to join our colleagues at NAEPC (National Association of Estate Planners and Councils) in promoting National Estate Planning Awareness Week. Estate planning is one of the most overlooked areas of personal financial management. In 2008, the National Association of Estate Planners and Councils (NAEPC) worked with Congressional leaders to pass H. Res. 1499, designating […]

Why Estate Planning is Necessary with New Tax Laws

If you are like many Americans, you know estate planning is important, but you just haven’t gotten around to it yet. Or if you have an estate plan, once it was completed, you probably crossed it off your to-do list forever. Not so fast. Changes in the new federal tax laws present some unique opportunities […]

Estate Planning for Maximum Business Growth

Most folks know that estate planning is an essential component of long-term financial planning and they figure they have time to get around to addressing it. But if you are a business owner or have a professional practice, it is critical that you start your estate and business succession planning now. The success of Estate […]

District of Columbia Tax Rates Changes Take Effect October 1, 2018!

Per the Fiscal Year 2019 Budget Support Emergency Act of 2018, Washington, D.C. residents and businesses should be prepared for the following tax rate changes that go into effect on October 1, 2018! Especially noteworthy to us are the changes to the D.C. Estate Tax and the Senior/Disabled Assessment Cap Credit, highlighted below. Sales and […]

Proposed IRS Regulations Eliminate SALT Limitation Workarounds

The Tax Cuts and Jobs Act of 2017 amended Code Sec. 164(b)(6) to limit individual annual State and Local Tax (SALT) deductions to a maximum of $10,000, with no carryover for taxes paid in excess of that amount. As a result of this change, many taxpayers will not get a full federal income tax deduction for their […]

Senator John McCain Called His Own Shots in Life and in Death

The nation has been mourning the passing of Senator John McCain, who recently lost his battle with brain cancer at the age of 81. Nicknamed “The Maverick,” for his determination and fighting spirit, McCain was known for standing up for what he believed in. Not one to mince words, McCain spoke his mind and, whether […]

Happy Labor Day from The Altman Team!

I would like to wish you all a Happy Labor Day! As we celebrate the contributions American workers have made to the prosperity and well-being of our country, I am especially grateful for our wonderful team! Thank you, Bob, Brenda, Coryn, Jackie, Jamie, Leyli, Liz, Melissa, Michele, and Vanessa for all that you do! Our offices will […]

Aretha Franklin Dies Leaving a Fortune Without a Will

Aretha Franklin dies leaving a fortune without a will. Despite having capable advisors, many wealthy people and celebrities don’t get around to taking care of even the most basic paperwork to maintain privacy and ensure their family is cared for appropriately. 80 Million Dollar Fortune to be Audited and Litigated Aretha Franklin died of pancreatic […]

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