Spencer Law Firm LLC
717.207.7935 866.639.5451

May 2014 Archives

Capital Gain vs. Ordinary Income

When you do a "fix and flip," will the profit be considered ordinary income or capital gain? The answer can be the difference between the 20% maximum capital gain rate and the 39.6% maximum ordinary income tax rate. (And don't forget the lurking 3.8% net investment income tax.)

Estate Planning and Portability

The American Taxpayer Relief Act of 2012 (ATRA), which tried to keep us from going over the "fiscal cliff," raised the federal estate tax exemption to $5.25 million and made permanent an estate tax concept called "portability." How long the exemption will stay at $5.25 million (ignoring annual inflation adjustments) is anybody's guess.

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Spencer Law Firm LLC
320 Race Ave
Lancaster, PA 17603

Toll Free: 866-639-5451
Phone: 717-207-7935
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