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IRS refuses basis adjustment to Grantor Irrevocable Trust
In April the IRS issued Revenue Ruling 2023-2, denying a basis adjustment under Section 1014 for property acquired from a decedent that…
Secure Act 2.0
President Biden signed the Consolidated Appropriations Act, 2023, a $1.7 trillion omnibus federal spending bill for fiscal year 2023, on December 29,…
How do I decide what personal property to keep for me or my family?
A recent WSJ article discussed the art of decluttering our lives, which has become a hit TV series but offers a serious…
IRS announces 2023 limits for IRA contributions
On October 21, 2022, the Internal Revenue Service (IRS) announced an increase in the amount that individuals can contribute to their 401(k)…
Recent WSJ article on Roth IRAs, including advantages and disadvantages
In a recent WSJ article, Laura Saunders discusses Roth IRAs, including some pointers from Natalie Choate, a Mass. attorney leader in this…
IRS issues notice regarding early retirement withdrawal rules
The IRS has issued Notice 2022-06, providing guidance on whether periodic payments from an individual account under a qualified retirement plan are…
Basics of cryptocurrency
Understanding Cryptocurrency Cryptocurrency is a digital asset that is created and traded online. Computer operators called miners establish new units of the digital currency…
WSJ article addresses elder abuse increase during COVID pandemic
In a recent article, the Wall Street Journal investigated the increase in elder abuse which has occurred during the last two years. …
IRS Releases 2022 Annual Exclusion and Estate, Gift, and Generation-Skipping Transfer Tax Exemption Amounts
On November 10, 2021, the Internal Revenue Service (IRS) issued Rev. Proc. 2021-45, which provides inflation adjustments for sixty-two sections of the Internal…
