mreagor
FINAL BOI rule issued (March 26, 2025): NO FILING REQUIRED FOR DOMESTIC ENTITIES
FINAL update April 4, 2025 FINCEN published its “interim final rule” on March 26, 2025. While FinCEN will continue to accept public…
Will your family honor your living will?
A recent article in the Wall Street Journal discusses the enforceability of “living wills”, legally known as advanced directives. In 2011 Lynne…
IRS Releases 2025 Lifetime Exemption and Annual Gift Exclusion Amounts, Retirement Account Contribution Limits
On October 22, 2024, the IRS issued Revenue Procedure 2024-40, providing the annual inflation adjustments for tax provisions to be used by…
Update on Qualified Plan Distribution Rules
Required minimum distributions (RMDs) are the minimum amounts you must withdraw from your retirement accounts each year. You generally must start taking…
Swedish Death Cleaning of your digital life: Do we need a “digital death cleaning” plan?
In a recent WSJ article, Alexandra Samuel asks whether proper planning should include a plan to “declutter” our digital records. She argues…
IRS Releases 2024 Lifetime Exemption and Annual Gift Exclusion Amounts
On November 9, 2023, the IRS issued Revenue Procedure 2023-34, providing the annual inflation adjustments for tax provisions to be used by…
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)…
