The Fiscal Cliff and the Estate Tax

Posted by on Nov 7, 2012 in Estate Planning, News | 0 comments With the re-election of President Obama and the House of Representatives remaining in the hands of the Republicans, there are some pressing issues that must be addressed.  One of which is the fiscal cliff.  The situation is this, the tax cuts that were enacted by President Bush and extended under President Obama are set to expire on December 31, 2012.  This includes income tax cuts as well as...
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Are you the target of a John Doe Lawsuit?

Posted by on Oct 19, 2012 in Copyright, Entertainment, Intellectual Property, News, Uncategorized | 1 comment Have you received a document from your Internet Service Provider (ISP) telling you that they have been subpoenaed to provide Internet Protocol address (IP address)?  Typically, these suits claim that a IP address associated with a John Doe defendant violated a copyright law by downloading pornographic material.  The Plaintiff requests expedited discovery and then request the name and address...
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OFFER IN COMPROMISE

Posted by on Oct 16, 2012 in Consumer Debt, Debt Collections Defense, News | 0 comments An Offer in Compromise is where the IRS agrees to allow the taxpayer to pay less than the total amount of tax debt.  The IRS will agree to this, when it appears that the offer represents the most the IRS can expect to recover.  There are three main reasons that the IRS will approve an OIC.  First, Doubt as to Liability, where the taxpayer claims that they do not owe the amount the IRS...
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WHAT HAPPENS TO YOUR DIGITAL ESTATE?

Posted by on Oct 5, 2012 in Estate Planning, News | 0 comments Digital assets can include your social media accounts, as well as your ITunes account, etc.  Many people plan for the physical assets but give little consideration to their digital assets.  Perhaps all of your photos are in digital form and uploaded to a website.  Many people would like their family to have those photos after their death.  What about your Facebook page, what happens with...
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Does California Have an Estate Tax?

Posted by on Oct 2, 2012 in Estate Planning, News | 1 comment Prior to 2004 California had what was called a “pick-up” tax.  Basically, the tax was on estates in an amount that was credited on the federal estate tax return.  However, under the Economic Growth and Tax Relief Reconciliation Act (EGTRRA), the state tax credit was phased out.  California along with many other states chose not to reform their estate tax and allowed the “decoupling” to...
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