The article on QDiSTs published on this blog on January 31 is a complex topic, even for those of us who routinely scale the heights of tax law. I have realized it was too complicated and I am completing a scaled-down version.  Meanwhile, here is an update. The core concept: I am making the case to consider […]

Losing the local and state tax deduction has more than a few New Yorkers thinking about making a lower tax cost state their primary residence. For many, that means Florida, especially if they already own a second residence in the Sunshine State. A move to Florida can save a New York resident up to 9% […]

Thank you to Brian J. O’Connor of The New York Times for his on-point article about the new estate tax law and heirs, “Heirs Inherit Uncertainty With New Estate Tax.” The most significant takeaway –the sunset provision of the new law will wreak havoc. At the end of 2025, the rules will change again – if they […]

Now that the tumult over the new tax law is settling down and we have examined its impact in broad terms, we are reaching out to clients about the changes and how the changes will impact their estate plans. Since new federal tax law will likely affect many estate plans, so we are recommending that […]

For years Congress has tinkered with the federal tax laws. Usually, there are months of congressional hearings and testimony from experts before implementing changes to the tax law. However, in a rush to pass some type of tax “reform,” Congress enacted the new tax law one week before the end of the year with no […]

Tax professionals have been losing sleep over The Tax Cuts and Jobs Act (the “Act”). Congress pushed The Act through in three weeks and many of the deductions and exemptions that have been in place for years are gone. This article is not devoted to the requirements to qualify as a QDiST but to examine […]