An Estate Tax Exemption of $3.5M opens the door for critical planning and use of SLATS!  https://www.accountingtoday.com/articles/sanders-proposes-estate-tax-of-up-to-77-for-billionaires While the 2017 tax reform legislation doubled the Federal Estate and Gift Tax Exemption to $11.18M per individual, or $22.36M per couple, for 2018-2025, however Bernie Sanders is now proposing the per-person exemption revert to $3.5 [...]

Prop. Regs. 20.2010-1(c); Reg-106706-1 If a client gifts $11.4M in 2019 and dies in 2026 when the exemption is back to $5M. The $11.4M is an adjusted taxable gift in the estate tax calculation so do you owe estate tax on the additional $5M. IRS held that taxpayers will not have this problem. [...]

I lectured for the PICPA on Friday 12/7/2018 and critical to that discussion was the current exemption of $11,400,000 in 2019 and the fear of claw-back.   Thus, depending upon where the Federal Estate Tax Exemption will go, dictates the level of complex estate and income tax planning you should consider while the exemption is [...]

The IRS announced the official estate and gift tax limits for 2019: The estate and gift tax exemption is $11.4 million per individual, up from $11.18 million in 2018. That means an individual can leave $11.4 million to heirs and pay no federal estate or gift tax, while a married couple will be [...]

Dauphin County Probate fees have increased in 2019.  Whereas in past, we would not have been concerned about the probate fees, for an estate of $5,000,000, you will pay approximately $2,500 for very additional $1,000,000 over the first $1,000,000 of assets (or total of $11,241).

Pennsylvania Inheritance Tax Rates: –0% to surviving spouse –4.5% to lineal heirs –12% to siblings –15% everyone else –No tax on charities This above summary is provided for informational purposes only and does not constitute legal advice. Before taking any action related to the issues addressed above, you should consult with an attorney of [...]

TAX ALERT Gift tax exclusion amounts – present interests 2017  $14,000 per person 2018  $15,000 per person Deceased spousal unused exclusion (DSUE)  Used first against surviving spouse’s lifetime gifts This Alert is provided for informational purposes only and does not constitute legal advice. Before taking any action related to the issues addressed above, you should [...]

Practice Alert: https://www.picpa.org/attend-cpe-events/conferences/picpa-conference-on-pennsylvania-taxes/conference-on-pennsylvania-taxes-speakers Neil Yahn to speak on Federal Estate Taxes in 2018 40% tax Date of death value Basic exclusion amount 2017  $  5,490,000 2018  $11,180,000 and use of the Deceased Spouse's Unused Exemption (DSUE) 2026  $  5,000,000** as adjusted for inflation Marital deduction Charitable deduction This Alert is provided for informational purposes only and [...]

ALERT THIRD CIRCUIT REQUIRES APPOINTMENT OF SUBSTITUTE ARBITRATOR UNDER FEDERAL ARBITRATION ACT January, 2012 Matthew Chabal III, Esq. James Smith Dietterick & Connelly, LLP P.O. Box 650, Hershey, PA 17033 717.533.3280 [email protected] On January 20, 2012, in Khan v. Dell Inc., the United States Circuit Court for the Third Circuit ruled that Section 5 of [...]

TRUCK DRIVERS HAULING MATERIALS TO AREAS WITHIN AND CLOSE TO THE JOB SITE MAY BE ENTITLED TO THE PREVAILING WAGE UNDER THE PENNSYLVANIA PREVAILING WAGE ACT COMMONWEALTH COURT CONCLUDES THAT A TRUCK DRIVER FELL UNDER THE DEFINITION OF “WORKMAN” UNDER 43 P.S. § 165-2(7) BECAUSE HE PERFORMED WORK “DIRECTLY UPON THE PUBLIC WORK PROJECT” October, [...]