It’s time to take another look at the stepped-up basis rules
Thanks to a generous federal gift and estate tax [...]
Do your assets include unregistered securities?
When it comes to estate planning, addressing all your [...]
You don’t file a gift tax return
Thanks to the annual gift tax exclusion, you can [...]
Protect your estate against undue influence claims
It’s your will, so you can say whatever you [...]
Need to make a “quick fix” to your will? – Executing a codicil may be the answer
For most people, the first step in estate planning is [...]
Discounts on Future Purchases Make for Tricky Deductions
Retail businesses will sometimes run customer loyalty programs that offer discounts on future gasoline purchases after qualifying purchases are made which customers may end up not using before the expiration date. The IRS says that you cannot deduct these discounts on your business income tax return until they are actually applied to purchases. Despite the IRS stance on this issue a taxpayer was able to win a case against it in the Third Circuit Court recently which reiterated the fact that this is a complicated issue.