Archive by Author

IRS Rules on Same Sex Couples

30 Aug

Back in July I wrote about the tax effects of the DOMA decision, where I mentioned there are still some uncertainties out there such as how the IRS would respond.  At the time of the decision, the IRS said it would “move swiftly to provide revised guidance in the near future.”  Well today the IRS provided that […]

The Estate Planning Toolbox: Portability Election

15 Aug
estate-planning-toolbox

With the passage of the American Taxpayer Relief Act of 2012, the portability election for the estate and gift tax exclusion became permanent.  While portability was available in 2011 and 2012, it was not until 2013 that it became a permanent fixture and changed the estate planning landscape for married couples.  The portability election can […]

Tax Consequences of DOMA Decision

02 Jul
san-francisco

As everyone knows by now, last week the US Supreme Court ruled on the constitutionality of the Defense of Marriage Act (DOMA).  In a landmark decision, the Supreme Court struck down DOMA, holding that the Federal government cannot bar States from recognizing same sex marriage.  While there were many implications stemming from this decision, one […]

The Importance of Using an Attorney in Estate Planning

05 Jun

Today the San Diego Union Tribune had an article titled “Communication about End-of-Life Wishes Does Not Frequently Occur.” (see link below)  It was an interesting read for a couple reasons.  First, it shined light on the fact that so many people are not setting up adequate estate planning.  The article cites that 70% of people […]

The Basics of Estate Planning

17 May
estate-planning-basics

It is common for people to approach me and say they need to setup an “estate plan,” but when I dive a little deeper and ask what they are looking for many people don’t know where to begin.  While every person’s situation is different, the most frequent estate plan I draft for people centers around […]

What’s Next After an Extension?

17 Apr

With another April 15th in the books, taxpayers are generally in one of two camps:  (1) a tax return has been filed or (2) an extension has been filed.  While extensions are great for people looking to buy some extra time in filing (and possibly paying) their taxes, there are some things to keep in […]

Tax Tips for Students Self-Filing Returns

01 Apr
2014 tax law changes

With the high cost of tuition, students are always trying to find ways to save money.  One way for students to cut corners is to prepare their own taxes. While it may seem like a great way to save a couple hundred dollars in tax preparation fees, it’s possible these same students are leaving thousands […]

Spousal Gifting for Non-US Citizens

08 Mar

It’s no secret that there are tax advantages to being married.  I for one was excited when I got married because that meant I only had to file one joint return instead of two separate returns each year.  While that’s just more of a time saver, there are many monetary advantages to being married. One […]

What’s Left Unaddressed in 2013 – Part 2

22 Feb
capital

In the last post I discussed how some estate planning tools continue to be beneficial to certain individuals for the reason that they were not addressed, or more appropriately not restricted nor eliminated, in the American Taxpayer Relief Act.  The first post of this series was about grantor retained annuity trusts (GRATs), which are a […]