Estate Trust & Gift
On the IRS.gov website, the IRS announced that for estate tax returns (Form 706) filed on or after June 1, 2015, estate tax closing letters will be issued only upon request by the taxpayer. Historically, the IRS’s “Frequently Asked Questions … read more
You’ve finished college, landed a great job, and have identified the perfect starter home. But as you examine your finances, you find you do not have sufficient funds in your bank account to buy a house, and with a minimum … read more
Is there a possibility the current estate tax will be repealed? This is a debate we have heard over and over again over the past several years, and as we head into the race for the White House, we are … read more
Have children around the age of 18? There is one thing you are probably unaware of that could save you thousands of dollars and a headache. Once individuals reach the age of majority—18 in most states—their parents are no longer … read more
The inflation-adjusted figures have come out for 2015 transfer tax and foreign items. Unified estate and gift tax exclusion amount: For gifts made and estates of decedents dying in 2015, the exclusion amount will be $5,430,000 (up from $5,340,000 for … read more
According to The Project on Student Debt, in 2013 more than 7 in 10 college graduates carried an average student debt of $29,400. Add to that the sluggish job market that promises low starting wages and little job security, and … read more
The IRS filed liens against Christopher Deinlein who owed taxes to the IRS. Chris was a 1/3 beneficiary in his mother’s estate. Presumably to prevent the IRS from receiving his share of the estate’s assets, Chris disclaimed his interest in … read more
Planning that big wedding this summer? While taxes may not be high on your list of things to do before you walk down the aisle, be aware of the tax issues that come along with your marriage. Name change: The … read more
Clients often struggle with the task of selecting an appropriate Trustee for their trust. An excellent article by Charles Redd “The Most Disrespected Decision in Estate Planning” offers some very practical advice. Factors to take into account when selecting a … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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- New Due Dates for Tax Returns
- Foreigners Selling U.S. Real Estate
- IRS: No More Estate Tax Closing Letters…Unless You Ask
- Pushing for Tax Reform – Civil Tax Penalties
- Tax Implications of Marriage on Your Filing Status
- Where Did Your Tax Dollars Go?
- IRS Regulations Proposed for ABLE Act
- The Tax Benefits of Hiring Your Kids
- I Received a “B Notice” from the IRS – What Do I Do?
- I have a Net Operating Loss, Do I Need to Worry about AMT?