Tag: Assets
Kiddie Tax Hits Many Families for 2007
Kiddie Tax Hits Many Families for 2007; 18 Year-Olds Escape for Now
If you have a child who turned 18 in 2007, you are in luck, taxwise. But that’s the only bright spot for families burdened by the “kiddie tax.”
The tax is, in effect, a penalty on parents who saved for their child’s college by putting [...]
Posted: January 22nd, 2008 under Income Taxes, Money, Personal Finance, Tax Breaks.
Tags: 10 Percent, 18 Year Olds, Assets, Braver Pc, College Expenses, Custodial Accounts, Dividends, Education Savings, Free Education, Full Time, Income Parents, Income Tax Rate, Investments, Kiddie Tax, Newton Mass, S College, Tax Brackets, Taxwise, Time Students, Unearned Income, Wealth Management
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Estate Tax Questions
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Reminder: Most relatively simple estates (cash, publicly-traded securities, small amounts of other easily-valued assets, and no special deductions or elections, or jointly-held property) with a total value under $1,000,000 do not require the filing of an estate tax return. The amount was $1,500,000 in 2004 and 2005. For 2006 through 2008, the amount is raised [...]
Posted: June 5th, 2007 under Insurance Trusts, Money, Taxable Gifts.
Tags: Assets, Business Interests, Charities, Cincinnati, Debts, Estate Tax Return, Estate Taxes, Gross Estate, Insurance Annuities, Insurance Trusts, Internal Revenue, Lifetime Gifts, Mailing Address, Money, Personal Finance, Real Estate Insurance, Reminder, Special Circumstances, Tax Forms, Tax Questions, Taxable Estate, Taxable Gifts, Total Value
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IRS Liens
The IRS and State taxing agencies have the power to collect back taxes by levying on taxpayers’ property as a result of a Tax Liens. When a person owes back taxes, the IRS and state agencies gain a tax lien on all that person’s assets after meeting certain statutory requirements. The tax lien attaches to [...]
Posted: June 2nd, 2007 under Money, Real Estate, Tax Liens.
Tags: Assets, Back Taxes, County Recorders, Federal Tax Lien, Interest Penalties, Irs Liens, Money, Real Estate, State Tax Agency, Statutory Requirements, Tax Liens, Taxes Irs, Taxpayers
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