Paley Rothman shares this library of resources with clients and friends of the firm to help them stay ahead of legal and business developments and trends. Here, you will find helpful tips and tools written by our attorneys. The information in the blogs and articles is not a substitute for legal advice and should not be relied on as such. Should you have any questions or want legal advice, please contact the attorney who wrote the blog or article.
Federal and state estate laws have recently undergone significant changes. As fewer individuals become subject to the estate tax, the estate tax driven plans of the past may need to be modified.
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Each year the IRS makes cost of living adjustments to many of the limits on benefits from — and contributions to — qualified and non-qualified retirement plans. Here are the new limits for 2015:
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Shop Maryland Tax-Free Week for 2014 is from 12:01 a.m. on Sunday, August 10, through midnight on Saturday, August 16, 2014. That means qualifying apparel and footwear (i.e., articles of apparel designed to be worn on or about the human body) $100 or less, per item, regardless of how many items are sold at the same time, are exempt from Maryland’s 6 percent sales tax.
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The Supreme Court has unanimously ruled that inherited IRAs do not qualify for a bankruptcy exemption; that is, they are not protected from creditors in bankruptcy. Clark, No. 13-299 (June 12, 2014).
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On June 4, 2014, Ron Lundquist, a senior program analyst for the IRS's Small Business/Self-Employed Division reminded Taxpayers to be aware of possible Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts.
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