I’m outraged – and you should be too. In the busiest time of year for estate planning attorneys, bankers, business owners and financial services, the IRS began a planned outage from December 23, 2020 – January 4, 2021. If you need to have an EIN issued for a client or business that establishes a legal […]
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Gov. Cuomo Signs Changes to Power of Attorney Into Law in New York State
After over five years of negotiation between the New York State Bar Association, the legislature passed, and Gov. Cuomo signed a law significantly changing New York State’s Power of Attorney form (” POA”). The new law simplifies and improves the POA form and its use for families and individuals. Kudos to my colleagues in the […]
Continue reading…IRS and Treasury Announce Intent to Issue Regulations: State and Local Income Taxes Will be Deductible for Businesses Structured as Passthrough Entities
Anyone who owns rental property and has not yet re-structured ownership into a passthrough entity now has another reason to make this change. We encourage you to call our office to get this done before year’s end to make the most out of this opportunity from the Treasury and the IRS. The $10,000 limit on […]
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Top Tax Moves Before December 31, 2020 – But Don’t Wait Until the Last Minute
There are a number of smart money moves to make before this historic year is over. Some of them were enacted as part of the economic relief package passed earlier in this year and others are traditional techniques, like charitable donations from an IRA. There’s still time to make these changes, but I’d encourage you […]
Continue reading…IRS Issues Changes in Revenue Procedure 2020-45
On October 26, 2020, the IRS issued IRS Rev. Proc-20-45 outlining the changes in the various tax rates, brackets and exemptions, and other income and estate and gift tax exclusions. Highlights of Changes in Revenue Procedure 2020-45 The Consolidated Appropriation Act for 2020 increased the amount of the minimum addition tax for failure to file […]
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Medicare Awareness: An Annual Wellness Exam is Covered; An Annual Physical Examination is Not
People who went for annual physicals throughout their adult lives are surprised to learn that Medicare does not cover an annual physical. It seems counterintuitive–wouldn’t you want to have more care, not less, so you can age well? But Medicare rules are different. Many people learn about this the first time they go for an […]
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Does Medicare Advantage Make Your Medical Coverage Better or Worse?
Some of the smartest people we know find enrolling in Medicare confusing and overwhelming. Despite the warm and fuzzy commercials from insurance companies, Medicare Advantage plans are tricky to figure out. And sometimes, Medicare Advantage can be more expensive than traditional Medicare. You want to go into the Medicare enrollment process with information to prevent […]
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Medicare Open Enrollment Season and Our Free Medicare Consultations
Open enrollment for Medicare Advantage plans and Part D prescription coverage begins on October 15 and ends on December 7, 2020. When it’s over, whatever decisions you may have made will be set in stone for a full calendar year. Mistakes are costly, especially for people who require multiple prescriptions. Also, if you do not […]
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Prepare Now for October 1, 2020 Changes to Community Medicaid
October 1 is the date when a host of new rules go into effect regarding Medicaid home care and all community based long term care services. It is essential to plan now if this is on the event horizon for you or a member of your family. Perhaps the most significant change is the 30 […]
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This Summer’s Annual BBQ Recipe – Grilled Yogurt Marinated Chicken
Yogurt is the unrecognized hero of marinades. The lactic acid breaks down protein, making the chicken extra tender and flavorful. Don’t use fat free yogurt – the gums and stabilizers in fat-free dairy products don’t win any flavor points in this recipe. Ingredients 1 cup full-fat plain Greek yogurt 1 cup lightly packed cilantro, finely […]
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