Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping Tax Exemptions The 2015 federal exemption against estate, gift, and generation-skipping taxes is $5,430,000 per person. This is an increase over the 2014 exemption, which was $5,340,000 per person. The $90,000 exemption increase is an inflation adjustment. Estates in excess of this amount are subject to […]
With President Obama’s State of the Union address now behind us, it is time to examine the employment law trends for 2015. Last year we predicted that the same topics would continue to dominate the news in 2015, and that has turned out to be true. Here are the employment law developments we believe are […]
On June 30, 2014, under the Marriage Equality Act, ratified by voters in November 2012, many same-sex couples had their registered domestic partnerships automatically converted to marriage. The automatic conversion did not apply to couples where one partner was 62 or older.
Like changes to any law, it takes time to settle issues that arise as a result of the change. Take for instance the issue of a domestic partnership agreement. Suppose that you and your partner entered into a same sex domestic partnership agreement prior to registering with the state. You and your partner later married or had your partnership converted to marriage. Is your domestic partnership agreement still valid? If a recent California case is any indication, the answer is — possibly.
In determining the top ten employment law developments for 2013, the Helsell Fetterman Employment Law Group concluded that we may well be revisiting these same issues for next year. These topics are important for their arrival into the employment law world; they will continue to make waves and relevant law as they are actually worked into everyday work life.
2014 Estate Tax Update Federal Estate Tax, Gift and Generation-Skipping Tax Exemptions The 2014 federal exemption against estate, gift and generation-skipping taxes is $5,340,000 per person. This is an increase over the 2013 rate, which was $5.25 million per person. The increase is due to the inflation adjustment and absent further Congressional action, the exemption […]
By Karen Kalzer, Jonathan Minear and Lauren Parris Delays in Affordable Health Care Act (ACA) Employers will not be subject to a penalty if their full time employees (and their dependents) receive a tax credit to obtain health care insurance through an Affordable Insurance Exchange in 2014. The US Dept. of Treasury announced on July […]
On June 26, 2013, the U.S. Supreme Court in U.S. v.Windsor found unconstitutional the portion of DOMA that prevented the federal government from recognizing same-sex marriages. It held that this portion of DOMA violated principles of equal protection and due process by denying same-sex couples who reside in states that recognize same-sex marriages the benefits and responsibilities that come with the federal recognition of their marriages. While the ruling allows the federal government to recognize same-sex marriages in some states, it did not legalize same-sex marriage in all states.
Just before midnight last Thursday, June 13, 2013, the Washington State Legislature approved a new law that changed the Washington state estate tax in four major ways.
Estate Planning & Tax Updates by Laura Hoexter As the ball dropped in Times Square, many of us were sure that the country was headed over the fiscal cliff. But on January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (ATRA) into law. In addition to many income and business tax […]
Laura Hoexter and Xan Gerson cover the State Estate Tax Exemption, Washington Trust Act, Federal Gift Tax Annual Exclusion and more.