Gifting College Tuition
Planning to make a large cash gift for high school graduation? Consider paying some college tuition instead With commencement ceremonies for high school seniors coming up, many parents and grandparents are contemplating making cash gifts the student can use for college expenses. But if gift and estate taxes are a concern, consider a potentially more [...]
Portability Doesn’t Preclude The Need For Marital Transfers And Trusts
Exemption portability, made permanent by the American Taxpayer Relief Act of 2012, provides significant estate planning flexibility to married couples if sufficient planning hasn’t been done before the first spouse’s death. How does it work? If one spouse dies and part (or all) of his or her estate tax exemption is unused at death, the [...]
IRS Releases 2013 Tax Scams
The IRS annually releases what it calls the “Dirty Dozen” tax scams. They do this to make taxpayers aware of the schemes being perpetrated. These schemes seem to happen more frequently during the filing season . The IRS works closely with the Criminal Investigation Division and the Department of Justice to monitor these activities. Below [...]
Form I-9 Retention
All employers are required to complete Form I-9 for all new hires within three days of the date of employment. The form itself is designed to determine who is AUTHORIZED to work in the US, not to determine who is a citizen or not. This form must be completed for EVERY employee. How and what [...]
Choosing the Right Student Loan
For parents with junior and high school children, looking at the variety of student loans can be overwhelming. Due to the millions of dollars of unpaid student loans on the government books the federal loan process is changing as well. There are two main categories of student loans – federal loans and private loans. [...]
