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The Last (Really BIG) Tax-Free Gift

Posted in Tax News on December 10, 2012

Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate…

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Why the Fiscal Cliff is Fiscally Irresponsible

Posted in Tax News on December 3, 2012

  The Federal Government and the country are set to go off the Fiscal Cliff on New Year’s Day.   The term Fiscal Cliff refers to number of laws that if they remain unchanged, could result in significant tax increases…

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8 Reasons You Will Pay More Taxes in 2013…Guaranteed

Posted in Tax News on October 30, 2012

  1) Increase in Ordinary Income Tax Rates The highest ordinary income tax rate is 35%.  This is scheduled to go up to 39.6%  

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How to Plan Your Estate and Live Happily Ever After

Posted in Tax News on October 9, 2012

Ask many people if they have an estate plan and they just roll their eyes.  With the Federal Estate Tax Exclusion at $5.12 million most people will not be subject to estate taxes.  In Connecticut, the exclusion is $2 million…

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7 Easy Steps to Manage an Estate in Connecticut

Posted in Estate Planning, Tax News on August 14, 2012

Please review 6 Easy Steps to Open an Estate in Connecticut.  1) Post a Probate Bond   Unless the will specifically indicates a bond is not required, the executor will need to get a Probate Bond. The coverage and insurance…

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