Do I have to pay taxes on money I receive in settling my claim? Is any of the settlement non-taxable? Plaintiffs frequently asked these questions when settling a personal injury, contract or employment case. Unfortunately, these questions are asked at the time the plaintiff is asked to sign the […]
Taxation Blog
So the day that we thought would never get here, is here. On January 1, 2010, the Federal estate tax was repealed. Yes, you heard me right. There is no longer a Federal estate tax. So let’s assume that when Bill Gates gets a look at the new Apple tablet […]
Lost among all of the talk about Federal estate tax repeal, is one of the greatest opportunities that Congress has given to many of my clients in years — the uncapped Roth IRA conversion opportunity. Until 2010, a Traditional IRA could only be converted to a Roth IRA by a […]
To Give Or Not To Give: Tax Deductions For Charitable Donations
December 17, 2013 | byIf you have had a successful year (and we hope that you have!) and are feeling particularly generous this holiday season, then you may be wondering what is the most tax efficient way to make a gift to your favorite charity. As many of you know, the Internal Revenue Code […]
