Individual, Estate, and Gift Taxation

National Estate Planning Awareness Week is finally here, offering the perfect opportunity to reflect upon some of the increasingly important topics- such as the impact proper estate planning can have on your income tax bill.

As the gift tax and estate tax exemption has significantly increased, and the estate tax rate has decreased, individual income tax and capital gains tax rates have...

Many businesses are focused on succession planning, which involves transitioning the ownership from or reducing the involvement of the founders of the company in anticipation of their retirement. One strategy is to transfer business to the next generation of family members. This can be done gradually over a period of years through gifting or all at once through an outright sale of all or a...

Can you remember all of your online passwords off the top of your head? Or do you have a list saved on your computer, which is of course password protected? Better yet, are your passwords "organized" in a clutter of post-it notes around your computer screen? Now imagine what you might be leaving your loved ones or your representative with if you die without addressing your digital assets (such...

By: Guest Blogger Ian Hanke, Senior Tax Associate at Mowery & Schoenfeld

On August 11, 2015 the Ninth Circuit Court of Appeals reversed the tax court decision in the Voss case, now allowing two unmarried taxpayers who co-own a residence to each deduct mortgage and home equity debt interest up to the $1.1M indebtedness limit. This could be a landmark decision for unmarried...

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