IRA and Tax Planning

Clinton vs. Trump: Comparing Their Estate Tax Policies

Monday night's debate between Hillary Clinton and Donald Trump showcased just a handful of the extreme policy differences between the two candidates. Of course, as estate planners, we are obviously keeping an eye on the candidates' positions as it pertains to taxes, especially the estate tax. Here is the latest information we could find on their positions on […]

Treasury Proposing New Regulations on Minority Discounts in Family Controlled Entities

The Treasury has issued proposed regulations under Internal Revenue Code Section 2704 that would result in significant changes to the valuation of interests in many family-controlled entities for estate, gift, and generation-skipping transfer tax purposes. If adopted, they would eliminate almost all minority (lack of control) discounts for closely held entity interests, including active businesses, owned […]

The Controversial Federal Estate Tax Turns 100 This Year

A recent Wall Street Journal article reminds us that the U.S. Federal estate tax turns 100 years old this year. In 1916, Congress was proactively looking for ways to boost revenue in the event that the United States would need to become involved with World War I. Hence, the death tax was born. At the time, fewer than 1% of Americans […]

Estate Planning for New York and Florida Residents!

Altman & Associates is pleased to announce that Gary Altman is now licensed to practice in the state of New York and Coryn Rosenstock is now licensed in the state of Florida. This is great news for our D.C., Maryland and Virginia clients who might be moving to/from New York and Florida for work or retirement […]

What Are the Presidential Candidates' Positions on Estate Taxes?

With the Presidential race in full swing, we thought it would be interesting to take a look at the candidates’ positions on a subject near and dear to our hearts, estate taxes! The Tax Foundation, an independent tax policy research foundation, has been tracking the candidates’ proposals for all kinds of taxes. As it pertains […]

Forbes Article: "Congress Cracks Down on Inheritors' Tax Loopholes"

A recent Forbes magazine article sheds light on a new law that will serve to prevent beneficiaries from overstating the original value of an inherited property when selling it to lessen their tax burden. The IRS has been well aware of the loophole, which had allowed beneficiaries to bypass the value that the estate had placed on a property […]

Congress Passes Extender Bill: “Protecting Americans from Tax Hikes Act of 2015"

Last week, Congress passed legislation to address a series of more than 50 tax provisions that expired at the end of 2014. The bipartisan legislation came down to the wire as tax payers, tax advisers, financial and estate planners and, of course, the IRS, were all anxiously awaiting answers as to what laws would apply to […]

Alaska Governor Proposes the State's First Income Tax in 35 Years

Alaskan Governor, Bill Walker, is proposing the state's first income tax in 35 years. The income tax proposal, along with a budget proposal, are a part of the The New Sustainable Alaska Plan. Alaska is currently the only state to have neither an income tax or a sales tax. However, with oil prices at seven year lows, the state […]

The Importance of IRA & Tax Planning in Maryland

Retirement only seems far away, or maybe it doesn’t. If you have acted responsibly, then you hopefully began saving for your retirement from a relatively young age. But saving and picking the right investments is only part of the process. Are you putting those retirement assets in a scenario where they receive the best possible […]

Year-end Financial Planning Checklist

Our friends at The Andrews-Balboa Wealth Management Group shared some valuable end-of-the-year planning information with us that we thought prudent to pass along. Their complete "2015 Year-End Planning Guide" includes information such as: Legislation watch Tax figures to note Tax planning strategies Investment planning Estate planning Charitable planning Retirement planning and a 2015 Year-end planning checklist. Download a […]

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