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Second quarter 2013 individual estimated tax is due. Due date for calendar-year corporations to pay second installment of 2013 estimated tax. Due date for calendar-year trusts and estates to pay second installment of 2013 estimated tax.
READ MORE »Posts in category Estate Taxes
Upcoming Major Tax Deadlines – April 15, 2013
Deadline for filing 2012 individual tax returns. Deadline for filing 2012 partnership returns. Deadline for filing 2012 gift tax returns. Deadline for making your 2012 IRA contribution. Deadline for filing 2012 estate and trust income tax returns. First installment of 2013 individual estimated tax is due. Due date for calendar-year corporations to pay first installment [...]
READ MORE »Understanding and Planning for the New Health Care Surtax
On January 1, 2013, the 3.8% Medicare surtax, passed by Congress in 2010 to help pay for healthcare reform, goes into effect. In order to help taxpayers plan for the surtax, we have summarized what type of income the tax applies to and how it is calculated. We have also listed a few ideas on [...]
READ MORE »The American Taxpayer Relief Act
In the early morning hours of January 1, 2013, the “fiscal cliff” stalemate finally broke and the Senate passed H.R. 8 the “American Taxpayer Relief Act.” Later on that same day, a weary House of Representatives also passed the bill. Signed into law by President Obama on January 3rd, the 2012 Taxpayer Relief Act retains [...]
READ MORE »Estate Tax Rules Also Facing the “Cliff”
Income tax rates, spending cuts, and debt limits have been the major themes of this battle we call the “Fiscal Cliff Debate.” While so much is at stake in regards to tax rates and the US Federal Deficit, little has been mentioned of estate taxes which are set to change in a big way in [...]
READ MORE »Be Proactive in Planning
It’s October already, which means that 2013 is right around the corner. If you haven’t been proactive in planning for your 2012 income tax filing, there is still time. With so much uncertainty as to agreements on tax law, it is no doubt, a chaotic time for planning. However, with the Bush tax cuts set [...]
READ MORE »You’ve Unexpectedly Run in to Sudden Wealth…. Now What? (Part 2 of 2)
Yesterday we addressed some of the more basic questions you may ask if you found yourself in a sudden position of wealth due to winnings or inheritance. Today we want to focus on the impact your wealth will have on insurance, your estate and gifting. Impact on Insurance Unfortunately, being wealthy may make you more [...]
READ MORE »You’ve Unexpectedly Run in to Sudden Wealth…. Now What? (Part 1 of 2)
What would you do with an extra $10,000? Maybe you’d pay off your student loans, nagging bills or credit card debt. Maybe take that vacation you’ve been dreaming of for so long. What if that $10,000 was suddenly an extra million, 5 million or more? Maybe you were lucky enough to win your state lottery [...]
READ MORE »Charitable Giving: Are Your Goals Being Met?
Today’s Charitable Giving information has been provided by William R. Slepcevich, RFC, ChFC, CLU, of the Slepcevich Financial Group. Slepcevich Financial Group is an independent firm offering a full array of investment and insurance services. They are dedicated to understanding the unique needs & wants of each client by developing, implementing and reviewing an appropriate [...]
READ MORE »Automatic Extension for Executors of Estates for Most Decedents who Died in 2010
Executors of estates of most decedents who died in 2010 now can get an automatic extension until March 19, 2012, to pay any estate tax due as well as to file an estate tax return, the IRS announced. Summarized below are a few of the provisions of the announcement: Postpones from Nov. 15, 2011, to [...]
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