How to Treat Your Business Website Costs for Tax Purposes
February 10, 2020 by Merline & Meacham, PA Resources These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy. That’s because the IRS hasn’t released any official […]
The Crummey Trust: Still Relevant After All These Years
February 10, 2020 by Merline & Meacham, PA Resources Traditionally, trusts used in estate planning contain “Crummey” withdrawal powers to ensure that contributions qualify for the annual gift tax exclusion. Today, the exclusion allows you to give up to $15,000 per year ($30,000 for married couples) to any number of recipients. Now that the gift […]
5 Ways to Withdraw Cash From Your Corporation While Avoiding Dividend Treatment
February 10, 2020 by Merline & Meacham, PA Resources Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and profits.” […]
What is Probate?
February 7, 2020 by merlineadmin Resources Share Previous Post What is a Revocable Trust and Do I Need One? Next Post How Does a Revocable Trust Avoid Probate? Categories News Resources Uncategorized
How Does a Revocable Trust Avoid Probate?
February 7, 2020 by merlineadmin Resources Share Previous Post What is Probate? Next Post 5 Ways to Withdraw Cash From Your Corporation While Avoiding Dividend Treatment Categories News Resources Uncategorized
What is a Revocable Trust and Do I Need One?
February 7, 2020 by merlineadmin Resources Share Previous Post Understanding a Power of Attorney Next Post What is Probate? Categories News Resources Uncategorized
Understanding a Power of Attorney
February 7, 2020 by merlineadmin Resources Share Previous Post Choosing an Executor of Trustee Next Post What is a Revocable Trust and Do I Need One? Categories News Resources Uncategorized
Choosing an Executor of Trustee
February 7, 2020 by merlineadmin Resources Share Previous Post Inheriting property? Be Aware of the Basis Consistency Rules Next Post Understanding a Power of Attorney Categories News Resources Uncategorized
5 Reasons to Update Your Estate Plan
February 6, 2020 by Merline & Meacham, PA Resources Share Previous Post Congratulations are in Order! Next Post Time passages: Estate planning through the years Categories News Resources Uncategorized
If you’re a non-U.S. citizen, the estate planning rules are different
February 7, 2020 by Merline & Meacham, PA Resources Traditional estate planning strategies generally are based on the assumption that all family members involved are U.S. citizens. However, if you or your spouse is a noncitizen, special rules apply that may require additional planning. Defining “residency” and “domicile” If you’re a U.S. resident, but not […]