Showing posts with label family. Show all posts
Showing posts with label family. Show all posts
Sunday, March 22, 2020

Family First Coronavirus Response Act

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Congress passed and the President signed a coronavirus-related bill this week. While mainly addressing employment benefits, it also includ...
Sunday, July 8, 2018

Amending Your Way Into A Penalty

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I have a set of tax returns in my office for someone who dropped off the tax grid for years. I suspect we will be fighting penalties and r...
Sunday, May 20, 2018

Blowing Up An IRA

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I am not a fan of using retirement funds to address day-to-day financial stresses. That is not to downplay financial stresses; it is i...
Friday, September 23, 2016

Worst. Tax. Advice. Ever.

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Dad owned a tool and die company. Son-in-law worked there. The company was facing severe foreign competition, and - sure enough - in time...
Wednesday, November 25, 2015

Helping Out A Family Member’s Business

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Let’s say that you have a profitable business. You have a family member who has an unprofitable business. You want to help out the fami...
Thursday, November 15, 2012

What Will The Tax Cliff Cost You?

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The Tax Foundation has published an analysis on the impact of the tax cliff on a typical family in each state. To arrive at the typical f...
Thursday, May 10, 2012

Something New In Gifting of Family Limited Partnerships

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Let’s talk this time about gift taxation. Let’s say that you have a family-owned company.   You desire to pass this on to your kids and g...