by Arthur Geffen | Sep 27, 2010 | Income Tax, Trusts
Estates and nongrantor trusts must file income tax returns just as individuals do, but with some important differences. For one, their income is taxed at either the entity or beneficiary level depending on whether it is allocated to principal or allocated to...
by Arthur Geffen | Sep 26, 2010 | Income Tax
FULLY REFUNDABLE TO BOOT! The earned-income tax credit has become more generous this year as part of the government’s economic recovery efforts.Although 24 million people received the credit last year, it is still not well understood by most Americans. In fact,...
by Arthur Geffen | Sep 24, 2010 | Income Tax
The Small Business Jobs and Credit Act, which passed the House Thursday, includes a new tax break for self-employed people who pay their own health insurance premiums. Under current law, the self-employed can deduct premiums they pay for themselves and their...
by Arthur Geffen | Sep 23, 2010 | Estate Tax, Income Tax
For the 400 richest Americans, 2010 may go down as the best year ever when it comes to paying taxes. A fixture since 1916, the federal estate tax lapsed on Jan. 1, potentially saving huge sums for the heirs of Metromedia founder John Kluge, Texas pipeline...
by Arthur Geffen | Sep 14, 2010 | Estate Tax, Income Tax, Medicaid, Medicare
The already heated fight over the so-called Bush tax cuts, which are set to expire at the end of this year, ratcheted up another notch on Monday. The White House and a host of influential Congress members staked out competing positions on the issue that is...
by Arthur Geffen | Sep 3, 2010 | Estate Tax, Income Tax
The Bush tax cuts, which cost $1.7 trillion between 2001 and 2008, are set to expire at year’s end, posing several critical questions: Which tax cuts should be extended and for whom? Will permanent cuts boost the economy? Due to the sluggish economy, letting...
