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.
The tax code requires that “minimum distributions” be taken from qualified defined contribution retirement plans, IRAs and annuities. In general, a required minimum distribution (RMD) is the smallest amount that must be withdrawn each year by the plan participant or IRA owner.
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Several significant changes enacted this year by the Maryland legislature may affect your estate planning. Perhaps the most important development, however, is a non-change. Maryland did not increase its separate estate tax exemption. It is currently $1 million and remains much lower than the Federal exemption, which this year increased to $3.5 million.
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A profit sharing plan is the most flexible qualified retirement plan an employer can offer to its employees. Contributions are discretionary, and each year the employer can decide whether to make a contribution and, within certain parameters, in what amount. The most simple profit sharing plan allocates contributions among participants pro-rata, based on compensation. Using this “plain vanilla” contribution model...
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If you are a tenant who will be leasing office space for your business, here are a few tips you need to know.
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In Maryland for the refinance of commercial properties, the use of an IDOT (Indemnity Deed of Trust) may save thousand of dollars in recording taxes - in this case...
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