Tax Planning

By: Barry E. Haimo, Esq. October 6, 2015 Estate Planning: You Shouldn’t Always Accept an Inheritance From disco albums to boring books to ugly sweaters—we’ve all politely accepted gifts we don’t want at some point in our lives. But while graciously accepting an unwanted gift might not do much...

By: Barry E. Haimo, Esq. May 18, 2015 Are There Techniques Available to Avoid or Reduce Estate Taxes? [BEGIN TRANSCRIPT] HAIMO: There are many techniques that you can utilize to avoid or reduce estate tax liability. The threshold for estate tax liability changes periodically, so it’s important to consult with...

Inherited IRAs Lose Important Ground   By: Barry E. Haimo, Esq. June 25, 2014 Click here to read this post for a basic introduction to IRAs. As you know, one of the benefits of IRAs is that they are protected from creditors. This is particularly true in Florida, under Section 222.11, Florida...

Victory! Married Same-Sex Couples Gain Equal Tax Benefits   Two months after the Defense of Marriage Act was struck down, the Treasury department ruled that legally married same-sex couples will be characterized as married for federal tax purposes. This decision is critical to same-sex couples lawfully married in...

Shifting, Preserving and Protecting Wealth for Generations   The amount of an estate that is exempt from estate tax is presently $5.25 million ("Unified Credit"). The rate of estate and gift tax that you can expect to pay above this amount is presently 40%. Aside from 2010...