Almost any kind of money management requires an astute differentiation between good assets and bad assets. That requirement invariably includes estate planning, since differentiating between the kinds of assets can have a huge effect on the value of the estate. A new ranking seeks to help people who need to separate the good ones from the bad ones.
Recently the Internal Revenue Service issued their final regulations under the Internal Revenue Code Section 67 dealing with application of the two percent floor to the miscellaneous itemized deductions for estates and non-grantor trusts and estates. In order to remain compliant with the new rules, below are some things New Jersey consumers should know.
In a challenging economy, taxes are less popular than ever. Many people are seeking to legally protect the cash they've earned over a lifetime from estate taxes in particular. After all, they would rather their resources go to beloved relatives instead of the Internal Revenue Service.