Tax Articles

These Tax articles will give you the news and information you need to stay up to date in the ever changing Tax industry.

September 18, 2013 – 1,640 views
Tax Professionals' Resource
Claiming not to know about a particular law has never been an acceptable justification. Such ignorance is likely to cause many nonprofit organizations in Maryland to lose their tax exemption status. A lesser known regulation of the Internal Revenue Service is catching many small nonprofit groups off-guard and putting their tax exemption status under danger. Not just that, it will also prohibit donors to write these contributions off their taxes... Full Story 
September 18, 2013 – 1,812 views
Tax Professionals' Resource
Being a part of the National Football League means not just fame, but also lots of money. Not only the top athletes, but even the ones at the bottom of the squad get paid very well. Apart from this basic income, the biggies of the game also earn millions every year through their brand endorsements and promotions... Full Story 
September 17, 2013 – 1,593 views
Tax Professionals' Resource
Accurate valuing of a client's assets is important in many contexts as it plays an important role in transferring assets or using the value of them as an advantage. Valuing estate assets such as properties and investments is easier than ordinary possessions or furniture. The transfer tax system poses issues where these assets are concerned... Full Story 
September 17, 2013 – 1,696 views
Ronald A. Fatoullah, Esq. and Yan Lian Kuang-Maoga - Ronald Fatoullah & Associates
This article briefly explains the Uniform Adult Guardianship Act which is awaiting the Governor’s signature. The enactment of the Act will allow existing guardianships to be transferred from one state to another if the “alleged incapacitated person” is to be moved out of the state where the guardianship was initially petitioned, saving the family anxiety and expense... Full Story 
September 16, 2013 – 1,503 views
Ronald A. Fatoullah, Esq. and Stacey Meshnick, Esq - Ronald Fatoullah & Associates
This article explains the importance of being well informed when applying for Medicaid benefits. The article stresses there are many rules and regulations which differ from county to county that many non-attorneys who help apply for Medicaid benefits may not be aware of. An experience elder law attorney can devise and implement a comprehensive plan which may be used to preserve assets... Full Story 
September 13, 2013 – 1,719 views
Ronald A. Fatoullah, Esq. and Debby Rosenfeld, Esq - Ronald Fatoullah & Associates
This article highlights certain federal benefits that are now available to seniors in same-sex marriages after the Supreme Court ruling on the Defense of Marriage Act. These benefits will only apply to same-sex couples who reside in states that recognize same-sex marriages... Full Story 
September 11, 2013 – 1,600 views
Tax Professionals' Resource
There is good news for all same-sex couples. A recent guidance issued by the Internal Revenue Service has made same-sex couples eligible for all the plan and tax purposes of the country. This includes taxation of dental, medical and vision benefits. This guidance was issued by the IRS as a result of the judgment passed by the Supreme Court that took down the central Defense of Marriage Act (DOMA). This latest guidance treats... Full Story 
September 11, 2013 – 1,757 views
Ronald A. Fatoullah, Esq. and Stacey Meshnick, Esq - Ronald Fatoullah & Associates
This article clarifies changes to income and estate taxes as a result of tax relief Acts that have been passed in the last twelve years. The article touches on long term care insurance and how it may be used as a medical deductible for both Federal and New York State income taxes. Changes in rates for estate taxes are also discussed... Full Story