You may have established a revocable trust for a variety of reasons – to maximize the use of both spouse’s estate tax exemption equivalents; to facilitate the management of assets during lifetime, particularly during any period of incapacity; and to avoid the necessity of probate. Following up to actually re-title…
Have you told your employees about the Earned Income Credit (EIC)? The EIC is a refundable tax credit for certain workers. IRS Notice 1015 (Rev. December 2007) advises employers that they must notify the following workers about the EIC, “[E]ach employee who worked for you at any time during the…
Are you knowingly employing an illegal alien? The new Department of Homeland Security (DHS) rules provide that even if you are not knowingly employing an illegal alien, you may be found to have constructive knowledge that you are employing an illegal alien. However, the rules provide a new safe harbor procedure…
On July 1, 2007, the Florida Trust Code took effect. While this was an important event here in our office, there’s a good chance that this is the first time you have heard about it. The Florida Trust Code was not front-page news and was probably not something that you…
In June the Florida Legislature approved legislation intended to provide property tax relief to Florida taxpayers. Senate Joint Resolution No. 4-B proposed amendments to the Florida Constitution, which the voters of Florida will be asked to approve at an election on January 29, 2008, if an appellate court overturns a…