As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to tax, more planning can be devoted to saving income taxes for your heirs. While saving both income and transfer taxes has always been a goal of estate…
The UK government recently announced a new Job Support Scheme, which will replace the UK Coronavirus Job Retention Scheme (the “Furlough Scheme”) upon its expiration on October 31, 2020. The Furlough Scheme has been in place since March 2020 to help employers cover up to 80% of the wages for employees who would otherwise have been laid off, up to a maximum of £2,500 per month. …

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