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Welcome to TIDBITS! Our monthly Newsletter.
General Tax Law changes in 2018 and 2019 Nearly double the standard deduction which means fewer people will be itemizing. • Personal exemptions are gone. • Child tax credit increased to $2,000, is refundable up to $1,400, and the phase-out amount increased. • A cap of $10,000 is applied to the State and Local Tax […]
What you Need to Know About the Tax Reform Bill Even though the tax reform bill brought some big changes, it made a lot of things simpler. It is fairly common for income brackets and tax rates to change to account for inflation each year. Marginal tax rates on the other hand only change when […]
IRS Announces Higher 2019 Estate and Gift Tax Limits The IRS announced the official estate and gift tax limits for 2019. The estate and gift tax exemption is now $11.40 million per individual, which is an increase from the $11.18 million in 2018. What this means is that an individual can leave $11.40 million to […]
Elective Share The surviving spouse of a person who dies domiciled in Florida has the right to claim a portion of the deceased spouse’s estate, this is known as elective share. The amount of the elective share is equal to 30% of the elective estate. This right may be waived by a spouse through a […]
Apple becomes world’s first trillion-dollar company Apple was co-founded in 1976 by Steve Jobs, Ronald Wayne, and Steve Wozniak. Apple beat Amazon to landmark total market cap value of 1 trillion dollars after its shares hit $207.05. Their share price pushed it past the landmark valuation. The company hit the $1 trillion market capitalization 42 […]
Could Jeff Bezos’ Divorce Affect Shares of Amazon? Despite all of the attention and coverage Jeff Bezos’ divorce is receiving, Amazon shares have not moved significantly since the announcement. But what most people are wondering is if this split could potentially have an impact in the future. Legal experts believe that the structure of the […]
Estate Planning Mistakes, And How To Recognize Them 1. Make sure your Will is up to date. Even better, use trusts to avoid Probate and incapacity. Very often Revocable Trusts are the answer along with an updated Will. 2. Updated Revocable Trust. Why leave the burden of your passing on your children. Pre-plan. Revocable […]
ESTATE PLANNING FOR SAME-SEX COUPLES Estate Planning and Trusts Lawyer As of January 6, 2015, same-sex marriage became legal throughout Florida with the cases of Brenner v. Scott and Grimsley v. Scott ruling Florida’s constitutional and statutory same-sex marriage bans unconstitutional. With such change comes many additional rights that same-sex couples may have not had […]