Articles

May 11, 2013

Estate Planning with Portability in Decoupled States

Estate Planning with Portability in Decoupled States (as published in Probate & Property, a publication of the Real Property, Trust  and Estate Section of the American Bar Association, Vol. 27, No.3 (May/June 2013) By:  Lisa M. Rico If a couple relies solely on portability for their estate plan, the couple will lose the benefit of using the […]

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Mar 20, 2013

The Madoff Mess and the Deductibility of Investment Theft Losses

The Madoff Mess and the Deductibility of Investment Theft Losses By Kevin Diamond Introduction The “Madoff Mess” will challenge you to help your clients de­termine the best way to recover their losses. Where there are few or no viable sources of recovery, one method may be to have the government help your client with a […]

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Feb 4, 2013

2013 Tax Updates

Beginning on January 1, 2013, net investment income is subject to the new 3.8% Medicare tax if adjusted gross income exceeds $250,000 for taxpayers filing joint returns and $200,000 for unmarried taxpayers. The federal applicable estate and gift tax exclusion and the generation-skipping transfer tax exemption is$5,250,000. For 2013 gifting purposes, the federal annual exclusion […]

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Jan 28, 2013

American Taxpayer Relief Act of 2012

On January 2, 2013 President Obama  signed into law the American Taxpayer Relief Act of 2012 (the “Act”).  The Act has brought some welcome permanency to estate planning.  Under the Act, the 2012 federal estate, gift, and generation-skipping transfer tax laws remain in effect.  Specifically, the federal estate and lifetime gift tax applicable exclusion amount […]

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Jan 21, 2013

Portability

Estate Planning with Portability:  What You Need To Know (as published in SumNews, the magazine of the Massachusetts Society of Certified Public Accountants, Inc., Vol 23, No. 4, Summer II 2012) By:  Lisa M. Rico, Esq. On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010 […]

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