, April 18, 2024

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Tax

  Mar 22, 2024

Donee's Basis and Gain or Loss Calculator

Welcome to our Donee’s Basis and Gain or Loss Calculator. This tool...

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Tax

  Nov 18, 2023

Structure of the Internal Revenue Code

When talking about the Internal Revenue Code (IRC), knowing where you are and...

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Tax

  Nov 15, 2023

An Unexpected Meaning of Bequest in Black's Law Dictionary Sheds New Light on the IRS's No-Basis Adjustment Ruling for Irrevocable Trusts

In a surprising twist, the dictionary the IRS relies on as an authority for Rev. Rul. 2023-2 allows taxpayers to reach a different conclusion....

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Tax

  Nov 10, 2023

IRS Published Inflation-Adjusted Tax Numbers for 2024

We published several posts on different inflation-adjusted tax numbers for 2024. We hope...

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Tax

  Nov 10, 2023

IRS Released Standard Deduction Amounts for 2024

In Revenue Procedure 2023-34, the IRS released the standard deduction amounts for 2024....

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Tax

  Nov 10, 2023

IRS Announces Higher Retirement Contribution Limits for 2024

The IRS announced that individuals can contribute more to certain retirement accounts: In...

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Tax

  Nov 10, 2023

IRS Published Inflation-Adjusted Tax Rates for 2024

In Revenue Procedure 2023-34, the IRS published inflation-adjusted tax rates for 2024. Married...

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Tax

  Nov 10, 2023

Exclusion for Gifts to Non-Citizen Spouse Will Increase to $185,000 in 2024

In Revenue Procedure 2023-34, the IRS announced that the exclusion to gifts to...

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Tax

  Nov 10, 2023

Annual Gift Tax Exclusion Will Increase to $18,000 to Any Person in 2024

In Revenue Procedure 2023-34, the IRS announced that the gift tax exclusion in...

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Tax

  Nov 10, 2023

IRS Announces Higher Federal Estate Tax Exemption for 2024: $13,610,000

In Revenue Procedure 2023-34, the IRS announced that the federal estate tax exemption...

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Tax

  Oct 17, 2023

Reducing Taxes: "seems as natural as breathing"

Reducing taxes is different from avoiding taxes....

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  Oct 12, 2023

🔑 Tax Accounting Periods: Decedent's Estate v. Testamentary Trusts

There is a key distinction between administering a decedent's estate and a testamentary trust....

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