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President Biden and many of his Democratic colleagues in Congress have pledged to significantly reduce the amount that can be transferred to family and friends tax free by gift or inheritance. Low interest rates create an excellent opportunity to lessen, or even eliminate the taxes imposed on...
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Yesterday Attorney Maureen O'Leary appeared on The Market Commentator podcast. Maureen joined her former law partner Andy Willms to talk about Democratic proposals to raise the estate and gift tax rate.
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Currently, Wisconsin handles the taxation of PPP loans differently than the federal rules. Unless Wisconsin changes its rules, expenses paid with PPP funds are not deductible for Wisconsin tax purposes, even though it is deductible for Federal purposes.
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The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.
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Willms-O’Leary, S.C. is entering the new year with a new name: “O’Leary-Guth Law Office, S.C.”
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So far, 2020 has been a banner year for investors. Hopefully, the stock market rally has led to capital gains in your portfolio. If so, you may be wondering whether it might make sense to pay taxes on some or perhaps all of those gains before possible tax law changes that could result from the election of Joe Biden as President. Typically, accelerating the taxation of capital…
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