Massachusetts has passed a sweeping $1 billion tax relief package intended to boost the Commonwealth’s affordability and competitiveness. Among other changes, the tax bill doubles the Massachusetts estate tax exemption to $2...more
The Tax Reform Act of 2017 (the “Act”) has created an opportunity to transfer to younger generations higher levels of assets than previously allowed by federal tax law without paying federal estate or gift taxes. The window...more
As 2015 comes to a close, we remind you to consider making gifts to minimize your potential tax liability and to maximize your use of available exemptions in order to reduce your ultimate estate tax liability. As you may...more
Private Foundation Rules to Remember -
Private foundations must follow a variety of rules to avoid the imposition of potentially onerous penalty taxes on the foundation and its related parties...more
9/15/2015
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Tax Returns
The Massachusetts Supreme Judicial Court recently ruled that, with few exceptions, trustees have a duty to invest with inflation in mind. While not required to follow an investment advisor’s guidance, they can’t ignore the...more
The Massachusetts Supreme Judicial Court’s recent decision in Morse v. Kraft recognizes, in certain circumstances, a Trustee’s ability to decant trust assets by distributing them to a new trust in lieu of making an outright...more
The Supreme Court’s recent Windsor decision, overturning a section of the Defense of Marriage Act, may allow significant tax savings for certain married same-sex couples. In light of the decision, married same-sex couples,...more