by Arthur Geffen | Nov 11, 2020 | Estate Planning, Estate Planning Solutions
Before the presidential election, many wealthy taxpayers were worried that a “blue wave” would mean a reduction of their $11.58 million estate, gift, and generation-skipping transfer tax exemptions. That’s because the Democrats were expected to propose lowering those...
by Arthur Geffen | Oct 1, 2020 | Income Tax, IRS
Taxpayers need to know their correct filing status and be familiar with each option. Generally, the taxpayer’s filing status depends on whether they are single or married on Dec. 31 and that determines their status for the whole year. However, more than one...
by Arthur Geffen | Sep 23, 2020 | Business Organizations
Here are six tips for new business owners. Choose a business structure. The form of business determines which income tax return a business taxpayer needs to file. The most common business structures are: Sole proprietorship: An unincorporated business owned by an...
by Arthur Geffen | Sep 22, 2020 | Estate Attorney, Estate Lawyer, Estate Planning, Estate Planning Solutions
So you have gone through all of the work to get your estate planning documents finalized, you have had your signing meeting with your attorney, and now it is time to celebrate that you are done, right? In most cases, the answer is not quite yet. There are few...
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...
