AMERICAN RESCUE PLAN BOOST REFUNDS

American rescue plan boost refunds. IRS urges Americans to file, even if they haven’t for years. The Internal Revenue Service urged Americans to file a 2021 federal income tax return so they can take advantage of key tax benefits in the American Rescue Plan and other legislation recently passed by Congress. Individuals and families can […]

AVOID TAX TRAPS WITH TIMELY APPRAISAL

Avoid tax traps with timely appraisal. Informed taxpayers are aware that only the wealthiest individuals should have concerns about the federal estate and gift tax, for gifts and decedents dying in 2018 thru 2025. Thanks to the legislation known as the Tax Cuts and Jobs Act, P.L. 115-97, the basic exclusion amount is more than […]

NEW YORKERS FLEEING HIGH TAXES

New Yorkers fleeing high taxes. Among the wealthy tri-state area set, there’s more buzz than ever about fleeing south to Florida, land of mild winters and, more importantly after last year’s federal tax overhaul, zero state personal income tax. Actual action ? Pretty scarce. The idea of New Yorkers fleeing high taxes after the Trump […]

NEW SMALLER TAX FORM

New smaller tax form. A new smaller tax form was one of the biggest goals of the new administration and Congress during the last election cycle was simplification of the tax code. You heard it mentioned in the campaign’s, during the contests, the debates, even after the elections were over, with promises of reduced paperwork […]