Choosing Guardianship for Seniors – Five Factors for Consideration

By Melody Lynch

A guardianship is a wonderful vehicle to assist seniors and their families in certain difficult situations. Filing a petition for appointment of a guardian over a loved one is a difficult decision that involves discernment and guidance. read more

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Republicans Announce Tax Reform Framework, Which Includes Repealing Estate Tax

By:  Amanda Wilson

After months of speculation, President Trump and the Republicans have announced their framework for tax reform.  While specific details are not known, the key elements of the framework include: read more

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Treasury Plans to Pull Unpopular Discount Regulation

By:  Amanda Wilson

As discussed earlier this summer, Treasury and the IRS identified as a burdensome regulation the Proposed Regulations under Section 2704 of the Internal Revenue Code, which regulations would severely impact discounts on gifts made to family members.  (Our prior discussion can be found here.)   Today, Treasury issued a report announcing that it proposes revoking the proposed regulations.  This is good news for taxpayers. read more

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Proposed Regulations Limiting Discounts on Family Gifts Targeted for Reform

By:  Amanda Wilson

Last summer, we discussed the IRS’s issuance of new Proposed Regulations under Section 2704 of the Internal Revenue Code, which regulations would severely impact discounts on gifts made to family members.  (Our prior discussion can be found here.)   Earlier this year, the Trump Administration issued an executive order instructing the Treasury Department to review all significant tax regulations issued after December 31, 2015 and identify any regulations that impose an undue burden on taxpayers.  The Treasury Department and IRS have completed this review, and have identified eight burdensome regulations that should be reformed.  The good news for taxpayers is that the Proposed Regulations under Section 2704 are on this list. read more

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Governor Scott’s New Law To Lower Sales Tax Rate On Commercial Leases

On May 25, 2017, Governor Scott signed HB 7109 into law. The new law will lower the sales tax rate on commercial leases under Florida Statute Section 212.031 from 6% to 5.8%. The new law goes into effect January 1, 2018. It is projected to save Florida commercial tenants $61,000,000 per year. Sales tax brackets and sales tax software programs will need to be updated for the new law change in January. For more info, go to: http://www.flgov.com/gov-scott-announces-100-million-tax-cut-on-business-rents-as-part-of-the-its-your-money-tax-cut-budget-2/ read more

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