Archive

Did you know that, in most cases, due to the unlimited marital deduction, you can give or bequest to your spouse an unlimited amount free of any federal estate or gift tax issue. #TuesdayTip

The average cost of home healthcare for a retiree to spend on healthcare is approximately $285,000.00. This of course can change depending on your healthcare needs. Something to thing about when planning your estate! #TuesdayTip

Did you know in Florida, even if a homestead property is titled in only one spouse’s name, that spouse cannot sell the property without the other spouse signing the deed? #TuesdayTip

An individual can gift up to $15,000 per recipient this year without triggering a taxable event. For a couple that is married, the exclusion goes up to $30,000 per recipient for this year. Dont forget to check with your tax professional for the Gift Tax Return. #TuesdayTip

Many things are still unknown about the new Tax Law. Attached is a review of the various Code provisions. The most important aspect is the “Expiration Dates” of the various sections. There has been a lot of discussion about the estate tax. It should also be noted that the income tax and several other sections […]

Robin A. Lloyd, Sr., Esq. January 23, 2018 Greetings from the Heckerling Tax Institute. They are trying to explain the new tax code this week. Since the Tax  Code has many parts, this is not easy.  Although a law has been passed the next step is the Regulations where Treasury explains what the Code means. […]

Robin A. Lloyd, Sr., J.D. January 9, 2018 GUNS, GUNS EVERYWHERE! Apparently, because of the concern over a potential firearms ban, a good number of people bought firearms over the last few years.  Because of our estate planning work, I started to think back at how many estate inventories I had with weapons in them. They […]

  As the House and the Senate try to reconcile the differences in their tax bills and build the similarities into coherent tax law, there are some aspects of current tax law that should be taken advantage of before year’s end. Charitable Deduction Contributions Although both versions of the tax bill maintain charitable contribution deductions, […]

  The Senate narrowly passed its Tax Reform Bill in the early hours of Saturday morning, with a 51-42 vote in which no Democrats voted in favor of the bill. This marks a significant achievement toward real tax reform, as the House and the Senate now enter conference to merge the House Tax Bill and […]

November 14, 2017 On Thursday, November 9, 2017, the Senate Finance Committee released its version of the proposed Tax Cuts and Jobs Act, on the heels of the House’s Tax Cuts and Jobs Act released earlier and discussed here. Although the Senate Bill purports to achieve the same tax reform goals as the House Bill, […]