Federal Gift Tax Exemption

The next two months may provide a unique opportunity for estate planning. The federal gift tax exemption had never exceeded $1 million until 2011. Currently, every individual is entitled to a $5.12 million gift tax exemption. A federal estate and gift tax rate of 35% is imposed on an estate exceeding $5.12 million. On January … Continue reading “Federal Gift Tax Exemption”

Tax Appeals Make Sense

In an economic downturn the owners of commercial real estate must “tighten their belts” and look for every possible way to reduce expenses. One way to substantially reduce expenses is to consider a real estate tax appeal. Commercial real estate is taxed based upon the assessed value of the property. Taxes are established by a … Continue reading “Tax Appeals Make Sense”

Businesses Must Use Revised Form I-9

As you are aware, the Department of Homeland Security – United States Citizenship and Immigration Services (formerly INS) announced in the Federal Register on November 26, 2007 that employers must transition to the revised Employment Eligibility Verification Form (I-9) not later than December 26, 2007. The revised I-9 is required to be completed for all … Continue reading “Businesses Must Use Revised Form I-9”

Jobs & Growth Tax Relief Reconciliation Act Of 2003

On Wednesday, May 28, 2003, President Bush signed the Jobs & Growth Tax Relief Reconciliation Act of 2003 into law. It is currently estimated that this legislation will result in three hundred fifty billion dollars in tax relief. Many of these provisions are retroactive to May 6, 2003. Here is a rundown of the major … Continue reading “Jobs & Growth Tax Relief Reconciliation Act Of 2003”