Posted by: Zinner & Co.
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Important Considerations for Non-Spouse Beneficiaries of Inherited IRAs
The Individual Retirement Account (IRA) rules are complex when it comes to annual contributions and timing for required minimum distributions (RMDs), let alone the differences between traditional and Roth accounts.
read more…Digging For Gold or Precious Metals in Your IRA?
Diversification is the cornerstone of a solid investment portfolio. Until the mid 1990’s, when stocks started producing extraordinary profits, most investment advisors recommended a balanced portfolio with a mixture of stocks, bonds, and precious metals. Stocks provided the opportunity for growth, bonds produced income and precious metals protected against inflation and financial chaos because gold and silver prices have typically enjoyed an inverse pricing relationship, when compared to stock prices over the long run.
read more…Inherited IRAs: Are These Assets Considered Retirement Funds?
Posted by: Barbara Theofilos, CPA
read more…Zinner CPA Talks IRA Issues In TV Interview
Zinner CPA Talks IRA Issues In TV Interview:
read more…New 3.8% Medicare Tax on Net Investment Income: How Will this Affect YOU?
Posted by: Barbara Theofilos, CPA
read more…The Celiac Tax Deduction; What’s New?
Posted by Howard J. Kass, CPA
read more…2011 Estate and Gift Planning Ideas
After spending most of 2010 procrastinating, Congress finally decided to throw a wrench into estate planning in mid-December by enacting the Taxpayer Relief Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Since then, all the estate planning professionals have been scrambling to make sense of the new law and ferret out the implications it has for taxpayers now. Some of the effects of this law are summarized in a few bullet points below:
read more…So What’s this Thing Called a Generation Skipping Tax Exemption?
With the recent increase in the lifetime generation skipping tax exemption to $5 million, effective for 2011 and 2012, you may be thinking that there is no way that this could apply to you (or your spouse). While this may only affect a smaller portion of taxpayers than before for those with potential exposure, let me explain how this works, as simplistically as possible.
read more…Is Your Accountant Asking for the Right Information Regarding Your Trust?
We’ve made it well past the trust filing due date of April 15th, and in reflecting back on what we noted with our trust clients, I thought it would be helpful to educate our trustees as to why we ask for certain information in preparing your trust returns.
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Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.
Proposed legislation supports unlimited above-the-line charitable contribution deduction
A proposed bill has the potential to put taxpayers in a charitable mode. U.S. Rep. Chris Smith (R-NJ) and U.S. Rep. Henry Cuellar (D-TX) recently introduced the “Charitable Giving Tax Deduction Act,’ a bipartisan bill that would make charitable tax deductions...
“Kiddie Tax” impacted by Tax Cuts and Jobs Act
Many higher income taxpayers have long made it a practice to open investment accounts for their children, hoping to take advantage of their lower tax rates. Many years ago, Congress imposed, what is colloquially known as the “kiddie tax” to place strict limits...
The new tax law will change divorce tactics
When couples divorce, financial negotiations often involve alimony. The tax rules regarding alimony were dramatically changed by the Tax Cuts and Jobs Act (TCJA) of 2017, but existing agreements have been grandfathered. In addition, the old rules remain in effect for...
No tax deductions for business entertaining
The good news is that the Tax Cuts and Jobs Act of 2017 lowered corporate tax rates from a graduated schedule that reached 35 percent to a 21 percent flat rate. The bad news? Many business expenses are no longer tax deductible. That list includes all outlays that...
Congress discussing ‘Phase Two’ of the Tax Cuts and Jobs Act
According to multiple media reports, Congress is looking to create legislation for a “Phase Two” of the Tax Cuts and Jobs Act (TCJA). This additional legislation will complement the TCJA and would be directed at individuals and families. House Ways and Means Committee...
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