Family and Taxes

The Latest

  • August 13, 2010

    Estate tax is one of the foremost issues in today’s uncertain economy, and many people are waiting to see how Congress will revise the Economic Growth and...

  • August 13, 2010

    The new modified carryover basis regime is something that property beneficiaries need to be aware of. In the past, beneficiaries of property received a “step-up in basis” of the property that they inherited. This is no longer the case. Instead,...

  • August 10, 2010

    For taxpayers with children under the age of 14, the Kiddie Tax was implemented in 1986 to insure that higher tax-bracketed parents did not transfer their investments to their children to avoid or minimize their own income taxes.  This is not a...

  • August 10, 2010

    The Kiddie Tax requires that unearned income generated by children under age 19 (or 24 for full-time students) is taxed at their parents’ rate rather than their own. The Kiddie Tax applies only to unearned income...

  • August 10, 2010

    In order to potentially claim a refund of the Child Tax Credit, it is recommended that any and all other tax deductions or tax credits be applied, prior to claiming the Child Tax Credit.  Once you’ve completed all tax forms necessary to claim any...

  • August 10, 2010

    In order to potentially claim a refund of the Child Tax Credit, it is recommended that any and all other tax deductions or tax credits be applied, prior to claiming the...