Federal estate taxes were created in 1916, taxing estates valued at over $5 million. This amount changed to $50 million in 1932. In 1940, it dropped to $10 million, then $5, then $3. In 2002-2007 estates worth more than $2 million paid the tax.
You Need a Digital Estate Plan “For most people, pretty much everything they owned could be held, sorted and doled out by their estate lawyer. Today, that’s far less true.” Laws about intangible assets used to be a legal niche practice area. However, today’s estate planning attorney addresses digital assets as much as tangible assets, […]
Maryland is known as the Free State, reflecting its tradition of political freedom and religious tolerance, along with its resistance to Prohibition. Talk to retirees, though, and they’ll tell you the nickname is a misnomer, at least as far as taxes are concerned.
If you or a loved one is a nursing home resident … or may be considering long-term nursing care … keeping nursing home residents safe from COVID19 is a top concern. Here’s what’s being done now.
Amid the climate of uncertainty surrounding the coronavirus pandemic that is sweeping the nation, people are grappling with the difficult subject of estate planning … and not taking any chances.
Here are the highlights of the most recent tax changes found in the $2 trillion coronavirus relief bill, which the Senate has approved, and the House recently passed.
The Inspector General of Social Security, Gail S. Ennis, is warning the public about fraudulent letters threatening suspension of Social Security benefits due to COVID-19 or coronavirus-related office closures.
The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15, 2020, because of the novel coronavirus pandemic.
If you’re caring for an older loved one, you might be worried. Here is what you need to know to keep elderly people safer, and what to do if they do show symptoms of COVID-19.
Treasury Secretary Steven Mnuchin announced Friday that the administration has moved the IRS deadline for filing taxes from April 15 to July 15 due to the disruption caused by the coronavirus.
