Guiding You Through The Legal Process
In 2016, an estate worth less than $10,000 will be taxed at a marginal tax rate of 18 percent. At the top of the estate tax tables, an estate worth more than a $1 million will pay $345,800 plus 40 percent of the amount in excess of $1 million. While this may seem like...
Georgia residents may be interested to learn that House Republicans recently passed legislation that would greatly benefit charitable organizations. House Republican leaders have already been told by both Senate Democrats and the White House that they will help to...
It is not uncommon for Georgia residents to make mistakes when filing a tax return due to how complicated the process can be. If they have multiple bank accounts and investments, they may have a number of sources of income, and it might not always be clear how to...
Many Georgia residents actively trade stocks and other securities in order to increase the value of their personal investment portfolios. In some cases, people's efforts are hampered by the $3,000 deduction cap for capital losses that the IRS places on such...
Recently, the IRS changed its rules about the distribution of closing letters. Instead of automatically sending such letters to indicate the end of an estate filing and the completed payment of related federal taxes, the agency will only send notices when they're...
Many Georgia residents have a very negative view about estate taxes, often calling them "death taxes." Very few Americans will actually have to think about paying estate taxes, however, as there is a federal estate tax exemption that removes a large amount from the...
Georgia residents may be displeased to learn that many foreign holders of U.S. assets fail to pay estate taxes they should owe on those assets. Under U.S. tax law, foreign estates are required to pay estate taxes on such holdings when the owner passes away, but very...
Georgia residents with high-asset estates often use the gift-splitting election in order to remove assets from their estates' values. The IRS allows spouses to split their annual gifts which helps them to double the exclusion they would have otherwise enjoyed. A...
Georgia residents may be aware that exemption to the federal estate and gift tax was established at $5 million in 2011 and has increased each year since according to the annual rate of inflation. The IRS announced the latest increase in October 2015 to $5.45 million...
Georgia entertainment fans may be interested to learn that Abby Lee Miller, who stars on the TV show "Dance Moms," has been charged with bankruptcy fraud and other offenses. The federal grand jury indictment, which was issued in Pennsylvania, claims Miller concealed...