New Hampshire Still Has (Almost) No Income Tax. A measure to repeal the Granite State’s 5 percent tax on residents’ interest and dividend income stalled in the state Senate when Republican John Reagan of Deerfield agreed to set the bill aside after previously voting with his party against killing it outright.
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Retirement planning can seem daunting enough for individuals. For small business owners, the pressure to choose a plan may seem even more overwhelming.
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Reaching age 100 is a milestone worthy of celebration. But for those who hold permanent life insurance policies, the birthday may bring an unwelcome gift from their insurer.
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There was a moment over 20 years ago when the future success of my then-very-young and then-very-small business may have rested on a decision I was about to make, and I didn’t even realize it.
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Fujiwara Mahito understood that for every family-controlled business, there comes a time when the founder must hand the keys to the next generation. That’s why Mahito’s inn, the Nishiyama Onsen Keiunkan in Japan, is still operating today, more than 1,300 years after he established it.
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Foreign buyers purchased a record $153 billion of U.S. real estate during the 12 months ending in March 2017, according to the National Association of Realtors®. As these buyers secured their pieces of the American dream, they may not have realized that Uncle Sam will want his share when it comes time to sell.
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The Palisades Hudson team got bigger, broader and deeper in 2017 as veteran staffers moved into new management roles and took charge of more territory while newcomers expanded our ranks.
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SCOTUS Considers Whether Shredding Receipts Constitutes Obstruction. Carlo Marinello operated his courier service, carrying parcels between the United States and Canada, on an all-cash basis. He also paid personal expenses such as his mortgage in cash, and he made a habit of shredding receipts and other records.
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While no tax reform is ever final until the president signs it into law, it seems increasingly likely that congressional Republicans will enact some significant tax changes soon. For taxpayers, all this uncertainty can be unnerving. After all, good tax planning happens with an eye to the future, and when a major shift in taxation is imminent, it can feel as if planning grinds to a halt. But taxpayers can consider the most likely of these changes now without succumbing to either panic or pressure.
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A grantor retained annuity trust, commonly called a GRAT, allows a grantor to pass assets to a beneficiary while minimizing his or her federal gift and estate tax burden. While GRATs do offer some undeniable advantages, like any estate planning technique, they are not right for everyone.
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