Capital Gains Tax

Make a Gift Before 2021

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Give a Gift before 2021 | The Pollock Firm LLC

I try very hard not to be political in these blog posts. I also try not to speculate on what the government may or may not do as they frequently compromise in an unpredicted manner. However, I would be remise if I didn’t talk about the fact that Joseph Biden is ahead in most of […]

Tax

Flush Tax

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Flush Tax

I got a little chuckle out of this article: http://www.delmarvanow.com/article/20120701/NEWS01/207010302/Maryland-law-changes-tax-hikes-take-effect.  For all of New Jersey’s tax problems, at least we don’t charge people for flushing the toilet… yet! Thanks to the Wills, Trusts & Estates Prof Blog for bringing this to my attention.

2503

Deathbed Transfers in New Jersey

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Deathbed Transfers in New Jersey

Often times, a person who is on his or her deathbed will make gifts to family members in an effort to reduce the potential taxes owed. For transfers to anyone other than a charity, making gifts in a way that minimizes taxes is actually a very complex process. In deciding whether to make a gift, […]

asset protection

Business Succession Planning: FLLC

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Business Succession Planning: FLLC

Some of you may have seen these scary statistics: According to the U.S. Small Business Administration, 90 percent of the 21 million small businesses in the U.S. are family-owned, but less than one-third of family-run companies succeed into the second generation, while only half of that make it to the third. Most often, the lack […]

Estate Tax

Japanese Inheritance Tax vs. US Estate Tax

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BRIEF OVERVIEW OFJAPANESE INHERITANCE AND GIFT TAXESvs.AMERICAN ESTATE AND GIFT TAXES NOTE: This information has been updated. The new post can be found at: http://willstrustsestates.blogspot.com/2014/08/japanese-inheritance-tax-vs-us-estate.html I. Estate Taxes A. America 1. Citizens and Permanent Residents a. Tax on Worldwide property (credit for taxes paid to foreign countries)b. Exemption of $2,000,000 in 2006; $3,500,000 in 2009; […]