2010 Capital Gain Rates – 4 Months Left to Cash in on the Lower Rates!

In Tax Planning by Daniel Friedel

For tax years 2009 and 2010, long-term capital gains taxes are eliminated for some low- and moderate-income individuals. This zero-tax break will end Jan. 1, 2011, when all capital gains rates revert to pre-2003 levels, unless Congress extends the current law. Ordinary income tax bracket Long-term capital gains rate by tax year 2007 2008, 2009 and 2010 2011 10 percent …

Throw Momma From Her Private Jet–Not From The Train

In Estate Planning, Tax Planning by Daniel Friedel

New York Times columnist Paul Krugman famously  dubbed the Bush 2001 tax cuts the “Throw Momma From The Train Act”, because the estate tax was eliminated for just one year—2010. But as 2010 grinds on without a federal estate levy, it’s becoming clear that Krugman got it wrong.  Any Momma who would ride the rails (even the pricey Acela) probably …

Estate Plan Anxiety?? Join the Club…

In Estate Planning by Daniel Friedel

Many people seem to avoid estate planning either because we do not want to think about death (particularly our own) or we do not want to think about all the paperwork, emotion, and flat-out hassle involved.  It’s kind of like digging out and organizing all your tax information for the year to bring to your CPA…but worse.  Your CPA only …

Income Tax Planning Basics for 2010

In Tax Planning by Daniel Friedel

With a substantial portion of provisions in the Internal Revenue Code (Code) set to expire the end of this year, I am strongly encouraging my clients to take advantage of the current tax planning opportunities available this year.  In the midst of the over sensationalized estate tax repeal and first-time homebuyer credit, the Code provides numerous other tax benefits that …