Jana M. Luttenegger Weiler

Jana M. Luttenegger Weiler

Davis Brown Law Firm

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Tax Law Blog: Did you miss the last holiday in May? Friday was 529 Day

Did you miss the last holiday in May? Friday, May 29th (5/29) was “529 Day,” referencing 529 college savings plans. If you are asking what a 529 Plan is, you are not alone. A recent Forbes article discussing the so-called...more

6/2/2015 - 529 Plans IRS Savings Plans Tuition

Tax Law Blog: Health Savings Accounts: Beneficiaries and Taxes

As high deductible health insurance plans become more prevalent, so do health savings accounts (HSAs). While most participants are aware of the tax implications of an HSA during life (contributions are deductible from gross...more

5/21/2015 - Beneficiaries Health Insurance Health Savings Accounts Tax Benefits

Special Tax Deduction for Slain NY Officers

Last week the IRS announced a special tax option for contributions to taxpayers who make cash contributions to certain charitable organizations. The Slain Officer Family Support Act of 2015 applies to taxpayers making...more

4/7/2015 - Charitable Donations IRS Law Enforcement

Tax Law Blog: 529A ABLE Account Guidance (Sort Of....)

In December 2014, the Achieving a Better Life Experience (ABLE) Act was passed by the US Senate and House and approved by the President. The ABLE Act will amend Section 529 of the Internal Revenue Code to create a tax-free...more

3/30/2015 - ABLE Act IRC Section 529A

Tax Law Blog: Financial Literacy at Tax Time

Were you aware you could use your tax refund to buy a U.S. Savings Bond? Or that you could split the refund between multiple accounts (such as savings and checking) with direct deposit? If you prepared your own return with an...more

3/11/2015 - Financial Education Initiatives IRS Tax Planning

Facebook Allows Users to Designate "Legacy Contact"

Access to digital assets following an individual's death continues to be a hot topic, and once again has made the news. This time, Facebook has announced a new feature called a "Legacy Contact." Essentially, this is the...more

2/16/2015 - Digital Assets Facebook Popular Social Media Social Networks

Tax Law Blog: Sharing Financial Responsibility at Tax Time

It's the end of January, and I imagine all of those tax documents are starting to arrive, including W2's and 1099's. For couples, maybe just one spouse handles the finances and taxes, whether by actually preparing them, or by...more

2/2/2015 - Income Taxes Year-End Tax Planning

IRA Charitable Rollover Extended

For some, the end of the calendar year means more than just the deadline for charitable contributions for the tax year. December 31 is also the deadline to take certain mandatory distributions from individual retirement...more

12/22/2014 - Charitable Donations IRA Required Minimum Distributions Year-End Tax Planning

Tax Blog: Tax Tips for Gifts to Charity

As the holidays approach and the end of the year draws near, the IRS has again released its list of tips for giving to charity. Of course, these rules apply to obtaining a legitimate tax-deduction for the donation. If that is...more

12/8/2014 - Charitable Deductions Charitable Donations IRS Year-End Tax Planning

Succession Planning - Even Startups Need to Have the Conversation

Startup companies have unique challenges, but succession planning is one area that both startups and well-established businesses should likewise be considering. No matter the stage of your business, the time to start thinking...more

11/6/2014 - Popular Small Business Startups Succession Planning

Tax Law Blog: More 2015 Tax Numbers Released, Including Tax Brackets

I previously posted about the increase in retirement plan contribution limits for 2015. This week the IRS announced the tax brackets, personal exemption, and standard deduction amounts for tax year 2015. To be clear, the new...more

11/3/2014 - Coca Cola Cost-of-Living IRS Tax Deductions Tax Exemptions Tax Returns

Tax Law Blog: 2015 Retirement Plan Limits Announced

Every year, about this time, the IRS calculates the cost of living increases, and determines whether the change is enough to trigger an adjustment to the statutory limit/threshold for various areas, including retirement...more

10/24/2014 - 401k 403(b) Plans 457(b) Plans Cost-of-Living IRA IRS Retirement Plan

Tax Law Blog: Tax Court Ruling on Frequent Flyer Miles as Income

In early 2012, Citibank started issuing Form 1099-MISC to customers who were given "thank you points" in exchange for opening bank accounts. The points could be redeemed for an airline ticket, similar to frequent flyer miles....more

9/2/2014 - Airlines Citibank Tax Court Taxable Income

Delaware Grants Access to Social Media After Death

Delaware has become the first state to enact the Uniform Fiduciary Access to Digital Assets Act (the "Act") The Uniform Law Commission describes the act as a law "that will vest fiduciaries with at least the authority to...more

8/27/2014 - Estate Planning Popular Social Media Social Media Account Ownership

Change in One-Per-Year Rollover Rules on IRA

Typically a taxpayer does not have to include in gross income an amount distributed from an IRA if the funds are placed into another IRA within 60 days. This is often called a rollover. To avoid abuse of the exclusion, it...more

7/28/2014 - IRA IRA Rollovers IRS Proposed Regulation

Tax Law Blog: UPDATE: Form 1023 EZ Released for Small Nonprofits

It seems as soon as I blogged about the draft Form 1023-EZ, the IRS released the final form. So, this will serve as an update and follow-up to my June 30, 2014 post. on the Form 1023-EZ, the IRS has now released Form...more

7/2/2014 - Form 1023 EZ IRS Small Business

Tax Law Blog: New Simplified Application Form for Small Nonprofits

The IRS is releasing a new Form 1023-EZ, a simpler form of the regular Form 1023 used to apply for tax-exempt status as a 501(c)(3) organization. The form is available to small organizations, specifically those with less than...more

7/1/2014 - 501(c)(3) Churches Credit Counselors Form 1023 EZ Hospitals IRS Non-Profits Tax Exempt

IRS Releases Taxpayer Bill of Rights

On Tuesday, the IRS released what it calls the Taxpayer Bill of Rights, grouping together the rights that taxpayers have in the tax code. These rights have always existed, but now the IRS has put the rights together in a...more

6/12/2014 - Income Taxes IRS Taxpayers' Bill of Rights

Updated E-Filing Requirements for Tax Preparers

In the IRS's point of view, preventing fraud and abuse of the electronic filing system is the shared responsibility of both the IRS and authorized e-file providers. In an effort to stop the fraud, abuse, and resulting...more

5/15/2014 - E-Filing Fraud and Abuse IRS Tax Preparers

Deadline Approaching to Avoid Losing Tax Exempt Status

May 15 is a key deadline for many tax-exempt organizations. The Form 990 series returns are due on the 15th day of the 5th month after the end of the tax year. For most organizations that run on a calendar year, that...more

5/8/2014 - Filing Deadlines Form 990 IRS Non-Profits

Are You Curious How Your Tax Dollars Were Spent?

Your Federal Taxpayer Receipt is a tool launched by the White House that allows an individual taxpayer to see how his or her tax dollars were spent. On the website, simply insert the amount of social security tax, Medicare...more

4/23/2014 - Barack Obama Federal Taxes Transparency

DIY Will is a 'Cautionary Tale'

The Florida Supreme Court Case of Aldrich v. Basile may serve as a cautionary story that online pre-printed forms that allow a user to essentially fill in the blank may not address the specific needs of the individuals using...more

4/7/2014 - Estate Planning Forms Wills

FICA Taxes on Severance Payments

In certain situations, an employee whose job is eliminated may receive a lump sum severance payment from the employer. The payments vary greatly, often dependent on the length of employment and reason for the termination. The...more

4/1/2014 - FICA Taxes Quality Stores SCOTUS Severance Pay

Filing From Home, and Health Insurance Reporting on W-2s

According to an IRS release last week, the number of taxpayers electronically filing their own returns from home has increased compared to last year at this time by approximately 6%. Overall, the IRS has received about the...more

3/19/2014 - Health Insurance IRS Tax Returns W-2

Tax Law Blog: Taxing Olympic Winnings

You may or may not have known that Olympic medalists receive a cash prize for winning a medal (in addition to the physical medal, the notoriety, and the likelihood of endorsements). U.S. medalists receive $25,000 cash for a...more

2/24/2014 - Income Taxes Olympics Prizes

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