As we enter the beginning of a new administration in Washington, many provisons of federal law are being considered for possible changes. At this point (January 28, 2017) it's not possible to say what will be changed and...more
In the classic Hollywood movie All About Eve, Bette Davis offered that advice to party-goers, and they were well-advised to heed it. The same advice applies as we begin a new year and the start of a Congressional session that...more
The Initiative for Family Business and Entrepreneurship at St. Joseph University's Haub School of Business presented another interesting program for family businesses on October 27, 2016. The program, which was part of a...more
The Social Security Administration has announced changes for 2017. Social Security benefit payments will increase by .3% (3/10s of 1%) next year. The Social Security Wage Base, the amount of income subject to Social Security...more
St. Joseph's University's Haub School of Business sponsors the Initiative for Family Business and Entrepreneurship, and I am honored to be a member of its Advisory Board. Yesterday, September 27, 2016, the Initiative...more
On August 2, 2016, the Internal Revenue Service released proposed regulations under section 2704 of the Internal Revenue Code, which could cause dramatic changes to valuation discounts - one of the most valuable transfer...more
In Roe v. Empire Blue Cross Blue Shield, No. 12–cv–04788 (NSR), 58 EBC 1077, 2014 WL 1760343 (S.D. N.Y. May 1, 2014), the United States District Court for the Southern District of New York held a self-insured health plan that...more
A new federal policy will allow legally married same-sex couples to get the same federal tax benefits as married heterosexual couples. The policy applies even if the same-sex couple lives in a state that does not recognize...more
Advice on retirement planning is being offered by many entities and forms of media these days. Those of us in the early baby boom generation are bombarded by offers to have dinner and listen to lectures as to how to invest...more
Important decisions in planning retirement income and expenses can be made at seven ages, and the decisions made at those ages can have a substantial effect on the quality of retirement....more
Despite the extensive information available from many sources about retirement planning, many people remain puzzled and disconnected from that type of planning....more
Over the past 30 years, a dramatic change has taken place in the use of retirement plans to help people save for their later years....more
Pennsylvania has enacted legislation that exempts certain family-owned business interests from its Inheritance Tax....more
A government publication called the Consumer Action Handbook refers to the preparation of a social media will. Many people have online accounts of various types. What happens to them when you die?...more
The U.S. Supreme Court’s ruling in United States v. Windsor will forever change many facets of the lives of same-sex couples....more
7/1/2013
/ DOMA ,
Equal Protection ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Income Taxes ,
Joint Tax Returns ,
Portability ,
Retirement Plan ,
Same-Sex Marriage ,
SCOTUS ,
Tax Exemptions ,
US v Windsor
Recent articles in the New York Times have added to he discussion of what amount is needed to retire. Focusing on $1,000,000, which is less than the cost of an average apartment in Manhattan, the first article suggests that...more
The website publications.USA.gov has many helpful publications, including some that offer practical advice about retirement. That website is now offering a series of pamphlets called Trustworthy Retirement Resources for...more
In addition to the many companies, organizations and governmental units that are attempting to help people who are planning or are into their retirement, we should not be surprised to learn that there are many scams being...more
Another feature of the Baby Boom Generation moving into retirement is the plethora of books written on the subject. Retirement for Dummies is part of the Dummies series of books on how to do everything. Of course, it’s very...more
A recent article in the New York Times reports on a development in the ongoing saga of how people will meet their expenses in retirement. A borrowing technique has been heavily marketed, called pension advances, which are...more
While most of us were celebrating the new year, members of the U.S. House and Senate were trying to prevent a fall over the dreaded "fiscal cliff," the combination of automatic tax increases and automatic reductions in...more
1/5/2013
/ Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Capital Gains ,
Charitable Donations ,
Dividends ,
Estate Tax ,
Fiscal Cliff ,
Generation-Skipping Transfer ,
Gift-Tax Exemption ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Portability ,
Tax Extensions