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After The Georgia Runoff What Tax Planning Should You Do NOW?

by Arthur Geffen | Jan 11, 2021 | Estate Tax, Gift Tax, Income Tax, Tax

With the results of the Georgia runoff election in the Democrats Control the House, the Senate and the White House. So, the potential for harsh tax legislation increasing taxation of the wealthy, along the lines of prior Democratic proposals, might be likely to...

Estate Tax Planning and the Often-Overlooked Power of the “Med-Ed Exclusion”

by Arthur Geffen | Nov 19, 2020 | Estate Planning Solutions, Estate Tax, Gift Tax

The current federal gift and estate tax rate is 40% and once an individual uses his or her lifetime exemption (currently $11.58 million and scheduled to drop to about half of that in 2026, perhaps sooner in light of election results) tax planning becomes difficult and...

Asset Selling to Reduce Estate Tax Exposure

by Arthur Geffen | Sep 17, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax

  If you have an estate that may be subject to estate tax next year, particularly if the November election results in a greatly reduced federal estate tax exemption in 2021, now is the time to remove assets from your taxable estate if you can comfortably afford...

Now’s The Time To Take Advantage Of Transferring Or Selling Assets

by Arthur Geffen | Sep 8, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax, Gift Tax, Gifts

  The clock’s ticking for wealthy clients looking to find tax advantages when transferring assets to the next generation or selling their business—especially considering the looming, potentially watershed election. “With a possible administration change and...

Plan Now for Reduction in Estate, Gift and GST Tax Exemptions

by Arthur Geffen | Sep 2, 2020 | Estate Planning, Estate Tax

  The federal government taxes the transfer of assets via three separate but interrelated taxes: the estate tax, which taxes the transfer of assets at death, the gift tax, which taxes gratuitous transfers during your lifetime, and the generation-skipping transfer...

Making Better Use of Transfer Tax Exemptions

by Arthur Geffen | Aug 18, 2020 | Estate Planning, Estate Planning Solutions, Estate Tax

Estate planning entails such rudimentary concepts as having documents in place, having family discussions about testamentary dispositions and bringing in the skill sets of advisors. There are still clients who may well have issues of actually incurring gift or estate...
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Blog Posts

  • The IRS May Consult a Ten-Year-Old Tax Return to Decide Whether to Exclude Your Account From Its Private Debt Collection Program February 25, 2021
  • Here’s What You Need To Know About The Earned Income Tax Credit In 2021 January 28, 2021
  • How being unemployed in 2020 could lead to a surprise tax bill January 14, 2021
  • All taxpayers now eligible for Identity Protection PINs January 12, 2021
  • Yes—You Might Owe More Taxes Under President Biden. Here’s How to Avoid It January 12, 2021

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