Philadelphia, PA
Probate Lawyer at Philadelphia, PA
Practice Areas: Probate, Estate Planning, Tax
OUTRIGHT GIFTS TO SPOUSE The donor is not required to report on Form 709 any outright gifts to the donor spouse who is a US citizen. GIFTS TO CERTAIN TRUSTS FOR SPOUSE'S BENEFIT In addition, gifts to...
See Full GuideGIFT TAX MARITAL DEDUCTION IS NOT AVAILABLE AND THE ANNUAL EXCLUSION AMOUNT IS NOT THE NORMAL $13,000 If the donor's spouse is not a US citizen, the gift tax marital deduction is not available. Howe...
See Full GuideAVERAGE AMOUNT WITHHELD BY EMPLOYER PER MONTH: LESS THAN $350 FILING FREQUENCY: QUARTERLY AVERAGE AMOUNT WITHHELD BY EMPLOYER PER MONTH: $351-$16,000 FILING FREQUENCY: MONTHLY AVERAGE AMOUNT WITHHELD...
See Full GuideMAXIMUM CREDIT For 2010, the maximum credit is $12,170 AGI PHASEOUT LIMITATION The modified adjusted gross income phaseout range is from $182,520 to $222,520. QUALIFIED EXPENSES Qualified epxneses fo...
See Full GuideLABELED AS NOTE An instrument labeled as a note is more likely to be considered to represent debt FIXED MATURITY DATE A fixed maturity date supports a debt classification. REPAYMENTS TIED TO EARNINGS...
See Full GuideINSTRUMENT CONTAINS A WRITTEN UNCONDITIONAL PROMISE TO PAY When an instrument contains a written unconditional promise to pay on demand or on a specified date a sum certain of money along with a fix...
See Full GuideACTUAL AND SIGNIFICANT AUTHORITY OVER ENTERPRISES FINANCES OR DECISION MAKING To be liable for the payroll taxes of an entity, a person must have possessed actual and significant authority over an en...
See Full GuideESTATE TAX RESTORED TO TOP RATE OF 55%, WITH SURCHARGE, AND $I MILLION EXCLUSION The estate tax is to be restored with a top rate of 55% (yes 55%-this in not a misprint). There will be an additional...
See Full GuideREPEAL OF ESTATE AND GENERATION SKIPPING TAXES (GST) The estate and GST taxes are repealed for 2010. The family of George Steinbrenner thanks Congress. GIFT TAX REMAINS IN EFFECT The gift tax remain...
See Full GuideINTERNAL REVENUE CODE AND STATUTES The Internal Revenue Code and other statutory provisions are substantial authorities TREASURY REGULATIONS Proposed, temporary and final regulations qualify as subst...
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