Posts Categorized: Taxes

Fiscal Cliff Fallout

The question of whether or not the United States was going to fall over the “fiscal cliff” dominated the news in the weeks and days leading up to the new year. If we would have...

Read more »

Answering a Common Tax Question

People often ask San Diego estate planning lawyers about the taxes that must be paid when gifts are given. A common question involves reporting a cash gift as income when you are filing your tax...

Read more »

Taxes

Congress did it! The Bush tax cuts have been extended, which means that no one should get a tax increase come Jan 1st..In fact, if you’re working, your social security withholding will be decreased (but...

Read more »

Tax Update

The Obama-Republican tax deal (an extension of the Bush tax cuts) have enough votes in the Senate. Even better, it includes a $5 million estate tax exemption and 35% tax on the excess. But, like...

Read more »

Estate Tax 101: What is a Step-Up In Basis?

If you’re reading all the debates about the return of estate taxes, then you’ve probably run across the “step-up in basis” phrase. What is this mysterious step-up? And why do you care? Actually, the step-up...

Read more »