by Arthur Geffen | Jul 19, 2017 | Tax, Tax Planning, Tax Solutions
Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is good reason for a new couple to consider how the nuptials may affect their tax situation. The...
by Arthur Geffen | Dec 16, 2015 | Estate Planning, Tax Planning
There’s a dirty secret that when selling inherited property, some beneficiaries overstate the original value of it on their income tax returns to lessen the tax hit. That’s long irked the Internal Revenue Service, and a new law tucked into the summer’s highway...
by Arthur Geffen | Dec 9, 2015 | Tax Planning
THINK ABOUT THIS NOW! How does a near zero family loan sound? The terrifically low rate you can use for a short-term intra-family loan is just 0.56% for loans up to three years. Go out up to 9 years and the rate is 1.68%. For loans of 10-years-plus, it’s just 2.61%....
by Arthur Geffen | Jun 8, 2015 | Tax Planning
As business cycles go, this is a great time to sell a family-owned business to the family. In particular, parents can lend money to their children for the purchase of the business at an incredibly low interest rate without incurring gift tax implications. The...
by Arthur Geffen | Dec 3, 2013 | Tax, Tax Planning, Tax Solutions
Dozens of tax laws are set to expire at the end of 2013. Many of these provisions are quite popular and likely will be extended by Congress. Exactly when or how lawmakers will get around to doing this is unclear. The situation is complicated by the fact that...
by Arthur Geffen | May 22, 2012 | Tax, Tax Planning, Tax Solutions
WASHINGTON — The Internal Revenue Service today announced another expansion of its "Fresh Start" initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear...
