Professionals from Palisades Hudson have recently been quoted as experts in a variety of media outlets. Here are a few highlights:
In a lengthy Q&A in BusinessWeek, Jonathan Bergman, vice president, explained the temporary absence of the estate tax this year as a result of Congress’s failure to address a sunset provision in the Bush-era tax laws (which Eric Meermann discusses in our story on page 1). Jonathan also laid out an innovative succession solution that could save business owners who own their building and land a lot in gift and estate taxes.
Rebecca Pavese, client service manager in charge of our income tax practice, offered advice to readers of AOL’s WalletPop on how to take advantage of the one-time “making work pay credit” available this year. If your modified adjusted gross income as a couple is less than $150,000, you should get the full $800 credit, she said.
Paul Jacobs, a client service manager based in our Atlanta office, shed light on the often confusing subject of Roth IRA conversions and recharacterizations in Kiplinger's Retirement Report. "Recharacterizing could save you a lot of money," he said. Recent legislative changes have made Roth IRAs newly available to high-income taxpayers, who were previously limited to traditional IRAs.
Shomari Hearn, a client service manager in our Fort Lauderdale office, stressed the importance of planning in advance. He told Koffeemag.com that including indulgences in your budget is the best way to ensure that you won’t be tempted to make spur-of-the-moment purchases that interfere with your long-term financial goals.