2023 saw one of the biggest retirement relocations in three (3) years About 37% were under 65, including 23% who were under 55. In comparison, 26% of 2022 retirees were under 65. Florida led the nation and attracted 11% of
2023 RETIREMENT RELOCATION
Marc J. Soss, Esquire Blogs
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2024 MEDICAID INCOME LIMITS
As of January 1, 2024, the income criteria, maximum amount of assets, and maximum equity in your homestead property has been adjusted:
Applicant income limits: Increased to $2,829/month if single and $2742 if you are married.
For an individual who
2022 FEDERAL ESTATE AND GIFT TAX EXEMPTION AMOUNTS
Each year, the IRS considers inflationary adjustments to the estate and gift tax exemption amount and gift tax annual exclusion amount. The 2022 adjusted numbers are:
2022 Exemptions and Exclusions: The estate and gift tax exemption amount has increased
HOUSE WAYS AND MEANS COMMITTEE TAX PROPOSAL
On September 13, 2021, the Congressional House Ways and Means Committee introduced legislative tax proposals to help fund the House’s proposed $3.5 trillion stimulus package. A brief summary of the trust and estate and retirement asset taxation proposals included within
METHODS TO PROTECT AN INHERITANCE
Unfortunately, divorce is a part of society. Many individuals seek legal counsel on how to protect an inheritance they may receive from a parent or family member proactively in the event they become divorced. The following is a brief list
Funding Different Types of Long-Term Care
Federal Court Affirms Employer Right To Require Employees To Be Vaccinated
NEW IRS GUIDANCE ON 100% MEAL DEDUCTION
On April 8, the IRS released Notice 2021-25, which provided guidance in determining which meals may be fully deductible under the new IRS rules and which are remain subject to the fifty (50%) percent limitation. Under long-standing IRS rules, the
THE COST OF LONG-TERM CARE IN 2020
The cost of long-term care is a concern for all seniors. The annual cost continues to rise and makes it untenable for most to afford it. It is estimated that an individual turning age 65 has a seventy (70%) percent
2021 Tax Information
Although our 2020, Federal Income Taxes are not due until April 15, 2021, it is important to start planning today for 2021. The following is a list of some important tax thresholds:
2021 Annual Exclusion for Gifts
In 2021, the