IRS Releases Inflation Adjustments–gift tax exemption increased
The IRS just released various inflation-adjustments for 2013 (Rev. Proc. 2012-41, 2012-45), including:Gift Tax Exemption: $14,000 (up $1,000 from 2012)Contribution Limit for 401(k)/403(b)/457 Plans: $17,500 (up $500 from 2012)Catch-Up Contribution [...]
Year-End Gift Planning: How Valuation Clauses Can Get Around a Late Appraisal
With the abnormally high gift/estate tax exemption amounts of $5.12 million set to sunset at the end of this year, many attorneys, CPAs and tax-advisors are rushing to help their [...]
State “Names and Shames” Top 500 Tax Delinquents
The FTB recently released its list of the state's top individual and corporate tax delinquents. In the past, the FTB only released the top 250 names annually but this year the [...]
Debate Fact-Check: Special Tax Break For Shipping Jobs Overseas? Not Really
The accusations and statistics about taxes bandied about by both candidates last light during the first Presidential debate were somewhat astounding.One particular exchange caught my attention: Obama: ....But I also want [...]
How Mitt Romney’s Use of a “Defective” Trust Saves Him Taxes
A tax and estate planning attorney has a wide array of tools that can be implemented to help individuals and families save when it comes to gift and estate taxes. [...]
Fresno County Keeps Williamson Act Tax Break…For Now
From the Fresno Bee: Fresno County supervisors agreed Tuesday to preserve a longtime tax benefit for farmers, even as the benefit is costing the county millions in lost revenue.The state's [...]