10 Things Every Taxpayer Needs to Know About the Pension Law

The Pension Protection Act, signed into law on August 17, 2006, is designed to address the nation-wide problem of under-funded pension plans. The law penalizes noncompliant companies and encourages employee contributions, but many of the changes directly impact taxpayers of all ages, regardless of retirement status.
“Taxpayers will benefit from many of the act’s provisions, some [...]

Basics of Tax Appeals in New Jersey

As real estate taxes skyrocket, many taxpayers have begun to look for ways to reduce their tax payments. One common method of accomplishing this is filing a tax appeal. However, since tax appeal procedure affords relief to very few taxpayers, the decision of whether to file an appeal will require a cursory understanding of how [...]

How to Reduce Or Eliminate Your Estate Tax

I bet you probably didn’t know that your heirs might have to liquidate ( sell off ) your home or commercial/residential rental properties immediately after your death. This is unless you create an Irrevocable Life Insurance Trust or ILIT.
I bet you probably didn’t know that your heirs might have to liquidate ( sell off ) [...]

Foreclosure Epidemic Likely Means Additional Tax Liability

The recent national surge in home foreclosures coming on the heels of the collapse of the sub-prime lending industry and decline in home values likely means additional bad news for those former homeowners who feel like they just lost everything: additional income tax liability.
Income tax liability? From losing your home? Such is the nature of [...]

Divorce Under Texas Tax Law

Normally, women in Texas suffer more financially than the men. This is especially true when both parties decide to a divorce. Why? Because by the time the couple decides to separate ways, the husband already has a stable job and the woman has already made a career as a perfect housewife –dish washing, cleaning, massaging [...]

Tax Attorney Help

Do you remember when everyone read the classified ads? You could buy or sell anything (legal) by placing an ad in the newspaper or the item-specific ad weeklies; of course you still can, but an even better option for most consumers and marketers these days is the online seek/find route. Someone out there is looking [...]

When To Get Help From a Tax Attorney

Not every one will need the use of a tax attorney but their usefulness cannot be underestimated when you do need to hire one. First understand that there is a big difference between a tax attorney and a person who prepares taxes, such as a CPA or bookkeeper. If you hire an attorney, anything you [...]

IRS Appeals Arbitration Program

The IRS recently released Revenue Procedure 2006-44, which sets out the rules for the finalized IRS Appeals Arbitration program. This new program presents some new opportunities that taxpayers must consider.
The new IRS Appeals Arbitration program provides yet avenue to appeal factual issues that are cannot be resolved by the IRS appeals process. The program is [...]

Cover Your Assets

You’ve worked hard to develop your career. You did it for yourself. You did it for your family. You did it for your retirement. You did it for your family’s future.
You didn’t do it to become a target of some lawsuit designed to take it all away. But unless you protect your assets, you [...]

What Is An Inheritance Tax And When Is It Applied?

When an individual passes, on the federal government imposes an estate tax. This estate tax only applies to estate properties that are over one million fifty thousand dollars. The federal government is still likely to tax an estate even if all or a portion of the estate is being handed down to other family [...]