Proposed Tax Reform – What Should You Do Now?

On September 27, 2017, President Trump announced the release of a “Unified Framework For Fixing Our Broken Tax Code” (the “Framework”). A copy of the Framework can be found at http://src.bna.com/sS3. The Framework was produced by the influential group known as the “Big Six.”1 The stated objectives of the changes outlined in the Framework are [...]

2017-12-20T13:29:11+00:00 October 26th, 2017|Articles, News, Newsletters, Tax Planning, Uncategorized|

Non-Spouse Beneficiaries of Inherited IRAs & The 50% Penalty: Timing is Everything!

The IRS recently published IRS Information Letter 2016-0071. This Information Letter discusses rules that apply to anyone who has inherited an IRA account or other tax-deferred retirement savings account (which we will collectively refer to as “IRA accounts” for convenience in this post), and who is not the surviving spouse of the original IRA account [...]

2016-12-22T06:23:35+00:00 December 8th, 2016|Articles, News, Newsletters, Roth IRAs, Tax Planning|

Georgia 529 Plans Get Even Better For Married Couples

Beginning with the 2016 tax year (i.e., for Georgia income tax returns filed in 2017), the 529 Plan contribution income tax deduction for married couples filing jointly has doubled from a maximum of $2,000 per beneficiary account to a maximum of $4,000 per beneficiary account. When considering Georgia's flat 6% income tax rate, this will [...]

2016-12-22T06:23:37+00:00 August 25th, 2016|Articles, Estate Planning, News, Newsletters, Tax Planning|

Privacy by SafeUnsubscribe
Morgan and DiSalvo, P.C. Achieves Highest Metro Tier 1 Ranking from U.S. News & World Report – Best Lawyers for Sixth Consecutive Year