IRA

The Pension Protection Act

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Pension Protection Act

THE PENSION PROTECTION ACT Overview In addition to requiring corporations to more fully fund their pension plans, the Pension Protection Act (“PPA”), which was passed on August 17, 2006, provides or extends numerous tax benefits that could affect you or your employer. The PPA recognizes the reality that the government and many companies are pushing […]

529 Plans

Kiddie Tax

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Kiddie Tax

Use of Educational Savings Accounts in Light of the Revised “Kiddie Tax” Overview The Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222) further restricted the ability of parents to shift their income tax burden to their minor children so that such money would be taxed at the child’s lower rates. This shifting tax […]

Elder Law

Get Thee a POA

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POA (Power of Attorney)

Don’t have a Power Of Attorney (“POA”) yet? You are not the only one. Millions of Americans find out too late that a POA is a very useful and inexpensive document to obtain. If you do not have a POA, in order for your spouse or loved ones to make financial and medical decisions for […]