Wednesday April 23, 2014

News

Family Limited Partnerships
Family Limited Partnerships
A family limited partnership (FLP) is usually created by a husband and wife. It has several purposes. An FLP can save estate taxes...
MORE
Savvy Living - Air Travel Tips for Travelers with Special Needs
Air Travel Tips for Travelers with Special Needs
I would like to fly my elderly parents across the country next month for my daughter’s wedding but have some...
MORE
Washington News - Obama and Biden 2013 Tax Returns
Obama and Biden 2013 Tax Returns
Each year President Barack Obama and Vice-President Joe Biden release their tax returns. Both have done so for year 2013. In 2013 President Barack and Michelle Obama had adjusted gross income of $481,098. This was lower by approximately 20% from the prior year due to reduced royalties from the sale of books written by the President. Most of their income came from his $394,796 salary as President. The Obamas filed as a married couple with two added exemptions for daughters Malia and Natasha. Because the book income qualifies as self-employment earnings, the President was able to reduce taxes by funding a Simplified Employee Pension (SEP) with $20,681. The...
MORE
scriptsknown