Did you “stop renting a room” and “buy the hotel”? Many folks have purchased timeshares – which are a form of ownership or a right to the use of property – often of resort properties. Multiple parties own a single unit, and each person is allotted a period of time, for example, one week, in… Read More
The Worker, Retiree, and Employer Recovery Act of 2008 (the “Act”) became law on December 23, 2008. The Act waives 2009 Required Minimum Distributions (RMDs) from Individual Retirement Arrangements (IRAs), 401 (k), Profit-Sharing, Money Purchase Pension, 403 (b), and certain 457 retirement plans. The law generally requires taxpayers over age 70 ½ to take a… Read More
Let’s take a boat to Bermuda Let’s take a plane to Saint Paul. Let’s take a kayak to Quincy or Nyack, Let’s get away from it all. – lyrics by Tom Adair and Matt Dennis Do you have a house at the shore? A condo in ski country? Time share in Florida? In just how… Read More
The answer seems to be, “of course.” Many of us think that Congress will do something to patch-up the estate tax before January 1, 2010 arrives and its time to “throw Momma from the train.” But maybe not. They may wait until well into 2010, maybe even October, or even later, and make the change… Read More