Tax Law

In March 2020, in response to COVID-19, the IRS announced that taxpayers generally would have until July 15, 2020, to file and pay federal income taxes originally due on April 15, 2020. No [...]

According to the IRS, stimulus payment made to someone who died before receiving it should be returned to the government. If the payment was made to a single filer, the entire payment should be [...]

Florida does not collect state estate and inheritance taxes, but there are federal estate taxes to which one might be subject. In 2018, the federal estate tax exemption is $11.2 million per [...]

The reasons that a person might name a Trust as the beneficiary of his/her Individual Retirement Accounts (IRA) assets are many, but it is sometimes done in cases where the grantor has a minor [...]

A pass-through entity is a business the profits of which “pass through” to the business owner and are federally taxed at his/her individual rate. Pass-through entities can be both S corporations [...]

According to HealthCare.gov, a health savings account is a savings account for individuals with High Deductible Health Plans. Pre-tax money can be placed in the account to be used for [...]

The IRS recommends regularly reviewing your withholding so that you can make sure you are paying neither too much nor too little federal income tax with each paycheck. This can help avoid having [...]

It is the duty of the personal representative of an estate to oversee the repayment of debts owed by the decedent as well as to submit the final tax returns for the decedent. It is necessary for [...]

A Charitable Lead Annuity Trust, or “CLAT,” is one in which designated charitable beneficiaries receive annual payments during the term of the Trust. Upon the termination of the Trust, designated [...]

The recent Tax Cuts and Jobs Act brought with it many changes to federal tax law. In this series of blog posts, we explore what’s new in taxes. Federal estate taxes are now only applicable to [...]