Extended Time to Make Estate Tax Portability Election

Extended Time to Make Estate Tax Portability Election

We have encountered a few situations where clients believe to have missed their opportunity to take advantage of the surviving spouse’s “portability” election to transfer a deceased spouse’s unused estate tax exclusion to the surviving spouse. The IRS is simplifying the process to remedy the situation. Note that this development can be especially advantageous to … Continue reading Extended Time to Make Estate Tax Portability Election

2013 Tax Changes for Individuals

2013 Tax Changes for Individuals

Tax Changes for 2013 Each year starts with some changes to our tax regime. The changes for 2013 have been much higher profile given the drama in Congress and the “fiscal cliff.” Here is a brief summary of the changes that will impact individuals this year. Individuals For 2013, standard deductions and the personal exemption, … Continue reading 2013 Tax Changes for Individuals