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October122020
New Jersey Enacts Millionaires Tax ‰ÛÓ Immediate Action Required

My colleagues Sarah Kim J.D., LL.M. and Ken Maeng, J.D. examine New Jersey’s recently signed fiscal 2021 budget which includes a so-called ‰ÛÏmillionaires tax‰Û and will require immediate action by […]

October122020
To Survive an IRS Audit Get Ready in Advance

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and […]

October122020
A Fiduciary Roadmap

If you are like most people, your life is complicated. There are a lot of moving parts, a lot of puzzle pieces. If you sometimes find it challenging to manage […]

October052020
State Tax Debts: Don’t Believe Everything You Read

This week’s post is unusual in that it takes us to two very disparate points in time: The first being sometime last week, and the second being the third grade. […]

October052020
Plan for Income Taxes as Part of Your Estate Plan

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much […]

September292020
If You Manage Your Own Portfolio, Can You Deduct Related Expenses?

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs […]

September292020
The Pros and Cons of Lifetime Gifts

In my last post, I alerted you to the fact that the federal gift and estate tax exemptions‰ÛÓ now at a record high of $11.58 million per individual for 2020–would […]

September212020
New Internet Taxes and Wayfair? Don’t Forget the Use Tax

Many science fiction adventures have posited the idea of a parallel universe, but to my knowledge, we have not found intelligent life out there yet. Readers don’t fret. If you […]

September212020
Tax Implications of Working from Home and Collecting Unemployment

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common situations. Working from Home Many employees have […]