Guiding You Through The Legal Process
Many Georgia residents are concerned that long term health care costs uncovered by Medicare or Medicaid will eat up their inheritances and leave them little or nothing to pass on to their loved ones. To avoid this situation, it is not uncommon for older individuals or...
An increase in the estate tax exemption for 2016 that takes individual estates valued at $5.45 million or less out of danger of being subject to federal estate taxes has now shifted taxpayer concern in Georgia and throughout the country from estate tax liabilities to...
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...
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...
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...
Many Georgia homeowners understand the burden of steep property taxes. However, there may be ways to get those taxes lowered without attending the local town hall meetings and protesting the tax rate. One approach that could result in a property tax reduction is to...
