Executors Held Personally Liable for Unpaid Taxes

Posted on: March 23rd, 2012
In a recent federal District Court case, the co-executors of a decedent’s estate were held to be personally liable for the decedents unpaid income taxes under the federal priority statute because they distributed assets of the estate,...

2012 Retirement Account Contribution Limits

Posted on: October 21st, 2011
In IR-2011-103, the IRS announced the pension and other retirement account contributions limit. Certain limits are set for below: Qualified Plans:...

Income Taxation of Estates – a Brief Overview

Posted on: January 30th, 2010
In North Carolina it is not uncommon for persons to handle administration of a decedent’s estate without hiring a lawyer or an accountant. ...

Big Tax Losses in 2008? Consider a Roth Conversion

Posted on: December 2nd, 2008
Self-employed persons or small business owners such as home builders with big tax losses for the year should consider converting their traditional IRAs to Roth IRAs this year to "soak up" some or all of the loss....

Should You Roll Your 401(k) Over into an IRA?

Posted on: October 14th, 2008
Once you cease working for an employer, you have the option of rolling over to an Individual Retirement Account (IRA) any retirement plan (such as a 401(k)) established for you while employed....

U.S. Supreme Court to Decide on Trust Investment Fees

Posted on: June 8th, 2007
On June 25 the U.S. Supreme Court agreed to hear a case on whether the investment expenses of trusts are fully deductible or subject to a 2% floor. ...
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