Don’t forget about legal fees and other professional fees when preparing your federal income tax return. Some fees incurred in creating and implementing an estate plan are deductible and some are not. Some charges incurred in creating and implementing an estate plan — including attorney’s fees — are considered personal expenses, so you cannot deduct [...]
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that was signed into law by the president has an added benefit applicable to the GST tax only. Generation Skipping Tax Savings in 2010 Essentially, there is no generation skipping transfer tax imposed in 2010. Obviously, there isn’t much time left in 2010 [...]
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