» American Taxpayer Relief Act

There is Still Time to Make Your IRA Gift to Charity in Ann Arbor

January 18th, 2013
Unless an IRA is a Roth, the account owner must take yearly minimum required distributions starting at age 70½ and pay tax on the withdrawals. With the charitable IRA rollover, as it is called, the donation can count against the minimum required dis… Read More
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Categories: Charitable Giving, Elder Law, Estate Planning
Tags: American Taxpayer Relief Act, charitable contributions, Fiscal Cliff deal, IRA charitable rollover

A Fiscal Cliffhanger: The Federal Estate and Gift Tax is Holding On in Ann Arbor

January 17th, 2013
Now that the fiscal cliff has been averted — at least temporarily – there is widespread confusion about the effect on estate planning of the 11th hour tax law passed by the Senate on New Year’s Eve, and by the House of Representatives one day l… Read More
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Categories: Charitable Giving, Current Affairs, Estate Planning
Tags: American Taxpayer Relief Act, annual exclusion, Federal Estate Tax, fiscal cliff, Gift Tax, lifetime exclusion

Roth 401(k) Conversion Eligibility Expanded by Fiscal Cliff Deal in Ann Arbor

January 15th, 2013
The new rules basically let you convert everything in a traditional 401(k), including pre-tax salary deferrals, at any age, into a Roth 401(k). “They’re opening up in a major way the assets you hold that can be converted,” says Ed Ferrigno, vic… Read More
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Categories: Estate Planning
Tags: American Taxpayer Relief Act, fiscal cliff, Roth 401(k), Roth conversion