Governor Wolf and the State Legislature of Pennsylvania took a bold step that could conceivably affect the IRA retirement accounts of PA residents. In the budget bill passed in July, a new provision … [Read more...] about Have You Abandoned Your Retirement Account?
Estate Tax Planning Strategy – Minority Interest Valuation
The Treasury Department has issued new proposed regulations that, if adopted as proposed, will effectively eliminate a common estate planning tool used to transfer wealth among family members. That … [Read more...] about Estate Tax Planning Strategy – Minority Interest Valuation
Refinancing – Preparation Steps
Whenever interest rates begin or are expected to change significantly, individuals immediately begin to think of refinancing their existing mortgage. That is a good approach to take. However, there … [Read more...] about Refinancing – Preparation Steps
NJ Proceeds to Terminate Reciprocal Tax Agreement with PA
NJ Governor Chris Christie announced that, effective January 1, 2017, NJ is unilaterally terminating the state's reciprocity agreement with PA. Under the current agreement, taxpayers were allowed to … [Read more...] about NJ Proceeds to Terminate Reciprocal Tax Agreement with PA
Talk Is Cheap! Or . . . You Get What You Pay For
Taxpayers often mistakenly believe that they can rely upon Internal Revenue Service (IRS) advice. After all, if the IRS is providing the advice, why would it challenge a taxpayer’s return that … [Read more...] about Talk Is Cheap! Or . . . You Get What You Pay For
Property Acquired by Gift or Through an Estate Inheritance
We often hear from clients who have received a gift or an inheritance and inquire as to how much this will cost them in taxes that need to be paid. The good news is that the recipient of a gift or … [Read more...] about Property Acquired by Gift or Through an Estate Inheritance
