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High Net Worth Family Tax Report, Vol. 8, No. 2 -- May 2013

President’s fiscal year 2014 budget contains numerous tax provisions - President Barack Obama released his proposed budget for the government’s fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget...more

Tax Changes Loom in the President’s 2014 Budget Proposal

The White House recently released its Fiscal Year 2014 budget proposal, and there are many suggested changes that will impact individuals, businesses, and estates. Several of these proposals—particularly on the estate and...more

No Such Thing as Forever: President Obama’s 2014 Budget Proposes to Reduce Estate Tax Exemption Amount in 2018

Just when many of us believed that, after years of changes and uncertainty, the federal estate tax exemption had stabilized at $5.0 million, subject to inflation adjustment (for 2013, it is a $5.25 million exemption), we have...more

Instant Messaging: “Vote-A-Rama” Provides Rare Insight into Tax Reform

By a vote of 50-49, the Senate passed its FY14 budget resolution (S. Con. Res. 8) at 5:00 a.m. last Saturday – the first time the Senate has passed a budget resolution in four years. The budget resolution is significant in...more

Estate Planning After the Fiscal Cliff Deal

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...more

Gift and Estate Tax Changes in the American Taxpayer Relief Act of 2012

On January 1, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “2012 Act”) that was passed by Congress during the past 72 hours, bringing closure to the main tax aspects of the so-called...more

Post-Fiscal Cliff: What the New American Taxpayer Relief Act Does and Does Not Do

At midnight on December 31, 2012, the United States briefly fell off of the much-anticipated and highly publicized "fiscal cliff," with income tax rates rising on most taxpayers and a host of substantial spending cuts...more

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