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By : Mark Samila

Significant Estate Planning Opportunities for High Net Worth Individuals

With the signing of the Tax Cuts and Jobs Act (the “Act”) by President Trump on December 22, 2017, the most sweeping tax legislation in decades has been enacted.  The Act doubles the estate and gift tax exemption amount to $11,200,000 to those individuals dying in 2018, up from what was to be a $5,6...

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GOP Tax Bill Prompts Late Tax Tips for 2017

Republican lawmakers joined President Trump on Wednesday, December 20, 2017, to celebrate their largest legislative achievement to date, currently named “The Tax Cuts and Jobs Act” (the “Act”).  The Act makes several sweeping changes, including a provision that, effective in 2018, caps the amount of...

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New IRS regulations will soon have an adverse impact on many family owned businesses

On August 2, 2016, the Internal Revenue Service issued proposed regulations that will have a significant adverse effect on the valuation of many family owned or controlled businesses for federal estate and gift tax purposes. These regulations, if finalized, would:

Act Now: IRS Expected to Issue Regulations that will Adversely Affect Wealth Transfer

The IRS is expected to issue regulations this fall that will substantially limit the use of family limited partnerships and family limited liability companies.  These entities are often used as a method to gift assets to children and other family members at discounted values, often as much as 40%. ...

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Penalties Under Affordable Care Act for Employers with 100 or More Employees Start January 1, 2015

Beginning January 1, 2015, employers with 100 or more employees that fail to offer health insurance coverage to full-time employees or that offer health insurance coverage that is not “affordable” are subject to penalties under the Affordable Care Act. Employers that fail to offer health insurance ...

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I.R.S. Provides Additional Guidance on Affordable Care Act that Adversely Affects Some Employers

The I.R.S. has recently issued additional guidance on the consequences of employers failing to provide health insurance coverage to employees. Generally, an employer may reimburse  employees’ for substantiated premiums paid by an employee for non-employer-sponsored hospital and medical insurance. In...

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Physicians Beware: Are Your Personal Assets at Risk in a Medical Malpractice Case?

Ever since the signing into law of the Indiana Medical Malpractice Act (MMA) by Governor Otis Bowen in 1975, physicians and other health care providers in Indiana have had no worries about potential exposure of their personal assets as the result of a judgment in favor of a patient in a medical malp...

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Health Care Reform Requires Employers to Give New Notices to Employees Beginning October 1, 2013

Under the Patient Protection and Affordable Care Act (PPACA or Affordable Care Act), employers that are subject to the Fair Labor Standards Act are required to provide a new notice to employees. 

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Fiscal Cliff Avoidance- American Taxpayer Relief Act

Washington has avoided the Fiscal Cliff for the time being with the passing of the American Taxpayer Relief Act (“Act”).  While this Act addresses various tax issues, the below focuses on several key issues of the Act:

  • The top marginal income tax rate will incr...

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Estate Planning under the American Taxpayer Relief Act

Washington has avoided the fiscal cliff for the time being with the passing of the American Taxpayer Relief Act (“Act”).  The Act addresses several key estate planning issues.  With the passage of the Act, the unified federal estate and gift tax exemption will remain at $5,000,000 per person.  The A...

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