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The Estate Tax, or Lack Thereof, Under the Tax Cuts and Jobs Act of 2017

On November 2, 2017, the House Committee on Ways and Means released a tax reform plan known as the Tax Cuts and Jobs Act (the “Act”). As expected, ... read more >

New Estate Tax Portability Relief

The federal estate tax provides a lifetime exemption of $5,490,000 (for 2017) per person. That means that the first $5,490,000 of assets owned at death ... read more >

What a Trump Presidency Means for the Estate Tax

When President-elect Donald Trump first rolled out his much-anticipated tax plan as a Presidential candidate earlier this year, his plan to eliminate the ... read more >

Reverse gifting? What is it? Should I do it?

All too frequently, high-net worth individuals that have engaged an estate planner have been presented various gifting strategies designed to reduce their ... read more >

Estate and Gift Tax Related Exemptions to Increase in 2015

The Internal Revenue Service (“IRS”) recently issued Revenue Procedure 2014-61, whereby the 2015 inflation adjustments to the (i) estate and ... read more >

Post-DOMA Estate Planning Opportunities

On June 26, the U.S. Supreme Court, in the Windsor decision, ruled that the Defense of Marriage Act (“DOMA”) violates the equal protection ... read more >

2011 Special Filing Requirement for Pennsylvania Companies


By Gregory Allison

Every entity doing business in Pennsylvania, whether domestic or foreign, and whether a corporation, limited liability company, limited liability partnership, ... read more >

Tax Credit for Energy Saving Improvements Set to Expire on December 31, 2010


By Gregory Allison

The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT) ... read more >

Should Annual Exclusion Gifts Be Paid by Check?

The Internal Revenue Code imposes a tax on the transfer of the taxable estate of each decedent who is a citizen or resident of the United States. A taxable ... read more >

Can a Creditor Take Your Single-Member Limited Liability Company?


By Gregory Allison

On June 24, 2010, the Florida Supreme Court, in Olmstead v. FTC, ordered a debtor to surrender his interest in his single-member limited liability company (“LLC”) to satisfy an outstanding judgment against him individually. The debtor argued that the proper remedy is a charging order, which is an order whereby a creditor is entitled solely to distributions from the entity to satisfy his judgment and is not afforded management or control of the entity.... read more >