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The supposed repeal of the federal estate tax is probably the biggest hoax on taxpayers in the past 15 years. Effectively, nothing has been repealed. Estate planning is as important as ever, and all estate plans and gifting programs should be retained. MISCONCEPTION NO. 1: MISCONCEPTION NO. 2: Estate tax rates are dropping significantly
up until 2011. MISCONCEPTION NO. 3: MISCONCEPTION NO. 4:
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There's another reason why Sport Utility Vehicles ("SUVs") are so popular. A loophole in the federal tax code allows people who use their vehicles for business (i.e., greater than 50%) to write off the cost of a truck, van or oversized car much more quickly than a typical passenger sedan. Vehicles with a loaded gross vehicle weight of more
than 6,000 pounds are not considered passenger autos in the tax
code. Instead, these vehicles fall under the rules that apply to
vehicles like trucks and vans. more
Attorneys have always worked with members of other professions
as needed. For example, corporate mergers and acquisitions require
that attorneys and accountants work together to find the most appropriate
structure from both a legal and accounting perspective. more
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Many
business people and attorneys have long seen a need for multidisciplinary
practices ("MDP"), where clients could obtain complementary
services - e.g., accounting, financial planning - along with legal
counsel. Under MDP arrangements, a client who needs the services
of an attorney, accountant and financial planner would contract
with a multi-disciplinary team that could offer substantial cost
savings and better services.