Category Archives: Taxes
International Tax Disputes Are A Growing Issue
Tax (Photo credit: 401(K) 2013) Whether it’s called an impostos (Portuguese), a belasten (Dutch) or a tassare (Italian), taxes are an issue all over the world. “The global recession has increased the focus on inheritance and wealth taxes in recent years,” according to the Ernst and Young International Estate and Inheritance Tax Guide for… Read More »
Tax-Free Gifts Flowed After Congress Changed The Law
A law passed late in 2010 has resulted in a quadrupling of tax-free gifts less than two years later, according to a recent item by Bloomberg News. (Photo credit: Wikipedia) Congress approved legislation that let wealthy Americans make gifts with no tax penalties of as much as $5 million, and they sure responded, the… Read More »
Preparing for the inevitable can be a kindness to others
Along with taxes, we all face one other grim inevitability: We’re all going to die. No one but tax attorneys and IRS agents likes to think about the former, and possibly only morticians routinely contemplate the latter, but the prudent person sets aside money to pay taxes and wise individuals make some preparations for… Read More »
While Not Advisable, Battling IRS Need Not Mean Defeat
Getting into a fight with the Internal Revenue Service is almost never a good idea. However, one wealthy woman did win a legal battle regarding the gift tax exemption. “There wouldn’t seem to be a whole lot of loopholes available for people making use of the gift tax exemption to reduce their estate taxes,”… Read More »