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Trusts, Estates & Individual Tax Law Blog

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Nov 28, 2018

Tax Carve-Out for U.S. Real Estate Agents, Brokers, and Managers

The Tax Cuts and Jobs Act created a new Section 199A of the Internal Revenue Code (IRC) that provides for a potential tax break on qualified business income of non-corporate taxpayers, beginning in 2018.

Section 199A requires that the qualified business be effectively connected with the conduct of a trade or business within the United States.  » Read More

Nov 26, 2018

Estate Planning for New Parents

Last month, I wrote a blog about the importance of proper estate planning for newlyweds.

After your wedding, you and your new spouse may be blessed with a child.  As you prepare the nursery and debate potential names, you should also consider an update to your personal estate plan.» Read More

Nov 20, 2018

Income Tax – the “Other” Tax in Estate Planning

Many people are aware of the increased federal estate tax exemptions (approximately $11.2 million plus a COLA adjustment for a decedent dying in 2018 through December 31, 2025 and then reverting to $5.0 plus COLA) along with the elimination of New Jersey estate tax (but not its Inheritance tax which remains in effect). » Read More

Nov 15, 2018

New Jersey Tax Amnesty – A Timely Gift from the State of NJ

New Jersey just implemented the 2018 New Jersey Tax Amnesty Program.  During the period that begins November 15, 2018, and ends January 15, 2019, taxpayers have an opportunity to file past due tax returns and/or pay back taxes along with one-half of the interest due and no penalties.» Read More

Nov 08, 2018

Estate Planning: Did You Remember Your Pets?

Many of us who have pets consider them members of the family.  But legally, your pet is just another piece of personal property.  Would you want your beloved pet treated like your sofa or your television when you pass away?  What would happen to your pet if you became disabled? » Read More

Oct 31, 2018

Legal Documents Your 18-Year-Old Might Need

If you are about to send your 18-year-old off to college, you are probably busy with last-minute shopping, packing and worrying about roommates.  But have you considered what happens if your child lands in the hospital after a car accident or a serious illness?» Read More

Oct 26, 2018

Treatment of Capital Gains Reinvested in Qualified Opportunity Zones

The Tax Cuts and Jobs Act, which was signed into law on December 22, 2017, is the biggest overhaul to our Federal Income Tax Code.  It reduces tax rates, eliminates certain deductions, and enhances other deductions and tax credits.  One significant change is the treatment of capital gains invested in a qualified opportunity zoneRead More

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