Most Florida residents know about the homestead exemption, the state’s property tax benefit that reduces the assessed value of a primary residence. Fewer know about homestead portability. When you sell your current home and purchase a new primary residence in…
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Oh My God I’m Getting Older And So Is My Mom on July 18 featured Joseph Karp and Jonathan Karp. The father-son lawyer duo had a lively discussion with host Scott Greenberg about some intriguing topics: why some people are…
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“I figured out why Uncle Sam wears such a tall hat. It comes in handy when he passes it around.” -Soupy Sales As Soupy’s quip suggests, there are taxes for just about everything – including death. Clients doing estate planning…
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Tax filing season begins January 24 and ends on April 18, and the Internal Revenue Service is warning filers that this will be a “frustrating” tax season. Unfortunately, frustration is nothing new for many taxpayers. A recent briefing from the…
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The Biden Administration’s tax proposals have been on the minds of many of our clients. You may be wondering if and how your estate plan will be impacted, and what you should do now to minimize your heirs’ tax liability. …
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Many of the rules governing retirement accounts have changed over the last few years. Now, more changes have arrived or are on the way. Required Minimum Distributions Return In 2021 The Coronavirus Aid, Relief and Economic Security Act, passed in…
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The federal estate and gift tax has long been the cause of confusion, due in part to frequent changes in the law over the past decades. Whether you have an estate plan in place or are just embarking on your…
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The CARES Act was designed to provide a measure of financial relief to Americans impacted by the coronavirus pandemic. The two-trillion-dollar legislation was passed on March 27, 2020. As noted in a prior post, among the law’s provisions is an…
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The Internal Revenue Service has just announced that most Americans will have an additional 90 days to pay taxes due to the unprecedented situation we are facing. This pushes the deadline date from April 15 to July 15, 2020. The…
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Increasing numbers of people are fleeing high tax states for lower-tax environments such as Florida. People have always moved to Florida to escape estate taxes and income taxes, of course. However, the migration has kicked into higher gear of late…
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