Transferring a decedent’s car or boat
January 6, 2023
The New York Department of Motor Vehicles has procedures where someone’s car can be transferred to the next of kin soon after death without going
In this world nothing is certain, except death and taxes
A website about financial planning and tax planning; owning and operating a small business; estate planning (wills and trusts) and the probate and administration of decedent’s estates in New York.
The Commissioner of the IRS Claims the taxpayer setup the trusts as part of a reprehensible scheme to avoid his taxes. However over and over again the courts have said there is nothing sinister in so arranging one's affairs so as to keep taxes as low as possible. Everybody does so, rich and more, for nobody owes any public duty to pay more than the law demands: taxes are enforced obligations, not voluntary contributions. - Judge Leonard Hand (Commissioner V. Newman, 2d Cir. Ct. Appeals (1947).
Probate and Administration of Decedent's Estates in New York
Alaska says ‘no’ to New York Statutory Power of Attorney
April 2, 2023
The agent for one of my clients called to say that Alaska Federal Credit Union told her they don’t accept the New York Statutory Power
By Operation of Law
April 20, 2023
When someone dies their estate usually has to go through the Probate process in order for the decedent’s property to be inherited by their heirs.
S-Corps, Limited Liability Companies, and Sole Proprietors
Rollover IRAs
May 23, 2022
Most people know that an Individual Retirement Account is a type of savings plan intended specifically for retirement. Most of the time people have an
Transferring a decedent’s car or boat
January 6, 2023
The New York Department of Motor Vehicles has procedures where someone’s car can be transferred to the next of kin soon after death without going
Section 179 Deductions
March 31, 2023
One of the most important tax provisions lets a business owner deduct the cost of certain business equipment in the year it’s purchased, rather than
