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Billionaire Giving Pledge Is Not Binding
June 18th, 2015
When they created the Giving Pledge, Bill Gates and Warren Buffet received a lot of praise and publicity. Billionaires who have joined the pledge have received the same. It might surprise you that the pledge is non-binding and unenforceable. However,…
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Keep Your Trust Ahead of State Tax Laws
May 26th, 2015
Keeping on top of federal tax laws concerning trusts is relatively simple. However, when it comes to state tax laws on trusts, staying on top of them can be an entirely different matter, especially since many trusts might be subject to taxatio…
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Business and Avoiding Probate Problems
May 14th, 2015
Small and family business owners have heard many nightmares about similar businesses that have had problems with probate. Many of the stories are true. However, with careful planning most of the problems associated with probate can be avoided.…
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The Estate Tax and Your Non-U.S. Citizen Spouse
April 6th, 2015
If you are married to a non-U.S. citizen, you need to know that the estate tax options for your spouse will be different if you pass away than if you were married to a U.S. citizen. This knowledge will help you to protect your spouse from the most de…
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Passing Down a Private Foundation
February 25th, 2015
Many wealthy people create private foundations as a way to continue using their wealth to support causes they believe in after they pass away. It is an extremely important part of many estate plans. However, for private foundations to work after the…
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Tom Brady Versus the Gift Tax
February 16th, 2015
It seems like famous athletes are winning something all time. These men and women are often already extremely wealthy, yet they often win prizes for their achievements beyond their salaries. Rest assured there are tax consequences for them. Di…
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Tags: Gift Tax
Don’t Forget About Estate Taxes at the State Level
April 19th, 2013
Although the new $5.25 million exemption shields the vast majority of estates from federal taxes, state estate taxes are alive and well. Currently, 21 states and the District of Columbia impose some type of death tax, and most kick in at a level much…
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Uptick in IRS Audits of Estate Tax Returns
April 16th, 2013
The IRS' focus on estate tax returns resulted in the collection of $1.1 million more in additional tax revenue for the 2011 tax year. Nobody wants to hear from the IRS …and I mean nobody. Typically the IRS would only contact you for an audit,…
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Categories: Taxes
Keep a Sharp Eye on Taxes at the State Level in Ann Arbor
February 4th, 2013
…State estate and inheritance taxes have been in constant flux over the last decade. And it’s not just the list of states that has been changing, but in some states, the level at which the tax kicks in has been changing (both up and down). So it…
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The Fiscal Cliff & Your Health in Ann Arbor
December 19th, 2012
If President Barack Obama and Congress cannot reach an agreement on the fiscalcliff…it would likely send the country back into recession…and ultimately, itcould hurt your physical and emotional health. Financial health an…
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