Make a Gift Before 2021
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 […]
Pass-Through Business Alternative Income Tax Act
New Jersey may be getting a lot tax friendlier for small business owners. I hesitate to even write this blog post, as I generally prefer to wait until legislation is actually passed before I write on a topic (mainly because it is a waste of everyone’s time to read about something that may never come […]
Will the New Jersey Estate Tax Repeal Become Permanent?
New Jersey Estate Tax As most of my estate planning clients are aware, I have been very cautious regarding whether or not New Jersey will keep a $2,000,000 estate tax exemption beyond 2017 or allow for a full repeal. However, it is worth noting that the front-runner for Governor, Phil Murphy, released part of his […]
Same Sex Marriage Now Legal In New Jersey
Effective today, same sex marriage is now legal in New Jersey after Governor Chris Christie dropped his plans to appeal the ruling of Superior Court Judge Mary Jacobson. On September 27, 2013, Judge Jacobson had ruled that New Jersey must allow same sex marriages in the wake of the Supreme Court’s decision in United States v. Windsor.Previously, […]
Deficit Reduction Package — Change in Estate Tax Exemption?
It’s way too early to know if President Obama’s Deficit Reduction Package will have any traction, but I did want to point out that under his proposal, the federal estate tax exemption would be reduced from the current level of $5,000,000 per person to $3,000,000 per person starting in January of 2013. Additionally, the maximum […]
The Future of Estate Tax: Will “13” Prove To Be A Lucky Number?
In my blog post of November 12, 2010, I made reference to a dinner bet I made with my father as to when a decision would be made on the federal estate tax issue. (Yes, Dad, I haven’t forgotten you were right and I still owe you dinner.) At that point, we were nearing the […]