Laws May Cause Issues for Owners In Civil Unions
LGBT business owners in New Jersey should assemble a team comprised of a lawyer, an accountant and a financial adviser who are familiar with the laws surrounding same-sex couples.
NEW JERSEY’S DEATH TAX: WHAT ARE MY OPTIONS?
If you die with an estate greater in value than $675,000, your estate will pay New Jersey Estate Tax. In the past, the State’s estate tax was based on and equal to the credit that the federal government would give to an estate for estate tax paid to a state. Wow! That [...]
Probate Basics
The legal process of transferring of property upon a person’s death is known as “probate.” Although probate customs and laws have changed over time, the purpose has remained much the same: people formalize their intentions as to the transfer of their property at the time of their death (typically in a will), their property is [...]
President-elect Obama’s tax plan
Tax-Plan Highlights
Here are some of the details of President-elect Obama’s tax plan.
INCOME TAXMaintain current tax rates of 10% to 28% for most Americans. Reinstate top tax rates of 36% and 39.6% on joint income of more than $250,000 ($200,000 for individuals).
CAPITAL GAINS/DIVIDENDSMaintain maximum rate of 15% for most taxpayers. Boost top rate to 20% for [...]
2008 Year End Estate and Trust Taxes and Planning: Before It’s Too Late!
Although year-end tax planning generally focuses on income taxes, a thorough year-end tax assessment should include reviewing your estate plan and estate tax situation as well. In 2008, the highest marginal estate tax rate is 45 percent. If your estate is large enough to be subject to this tax, you can begin planning to reduce [...]