Surprise Ruling May Transform Tax Policy
October 2, 2006What may prove to be the most profound change in federal tax policy of our era emerged from Washington this summer without any congressional or presidential action whatsoever. In a bolt-from-the-blue ruling, the U.S. Court of Appeals for the District of Columbia Circuit found that although the Constitution’s 16th Amendment authorizes the federal income tax, Congress is not free to define “income” in any way it wants. A three-judge panel …
Tax Planning For A Surviving Spouse Selling A Home
October 1, 2006Surviving spouses who wish to sell their primary residences often face large tax bills at an inopportune time. Good tax planning can help lessen the burden. The recent appreciation of the U.S. real estate market has left many taxpayers with homes worth far more than their cost basis, or what they paid. A surviving spouse who wants to sell his or her primary residence can substantially reduce a large tax …
Promotions, Additions Enhance Palisades Hudson Staff
October 1, 2006Veteran staff members David Walters and Paul Jacobs will assume new responsibilities as client service managers for Palisades Hudson Financial Group LLC next month, as three new associates enlarge our professional team. David, a CPA, will continue to work in our Scarsdale office, while Paul, a certified financial planner, will transfer to Fort Lauderdale to join Shomari Hearn on our Florida staff. David and Paul, both 26, came to Palisades …
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