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Jan 12

Estate and Gift Tax Consequences of the Tax Cuts and Jobs Act

On December 22, 2017 President Trump signed the Tax Cuts and Jobs Act which became effective January 1, 2018, although many of its provisions will sunset on December 31, 2025.  Most of the changes under the Act affect the federal corporate and personal income tax,… Read More

Dec 29

Is a Federal Income Tax Deduction Available for 2018 Real Property Taxes Paid Before December 31, 2017?

Under the Tax Cuts and Jobs Act the standard deduction has been doubled to $12,000 for single individuals and married individuals who file separately and to $24,000 for married couples who file jointly.  As a result, many individuals who will itemize on their 2017 federal… Read More

Nov 14

Seeking to Repeal the Federal Estate Tax – The Sequel

In 2001 President George W. Bush tried to repeal the federal estate tax. He was successful — but only for one year, 2010.  Then during the administration of President Obama the federal estate tax returned.  Under the new estate tax law the rate of tax… Read More