Rack & Olansen

Filter  MonthJanFebMarAprMayJunJulAugSepOctNovDec Year20102011 5101520253050100All Filter

• Account Held on Behalf of Disabled Family Member Not a Countable Asset for Medicaid

  Created: Wednesday, 01 February 2012 00:00 Author: Jennirfer L. Moccia, Esq.

  An appeals court in New Jersey ruled that a bank account held by a Medicaid recipient would not be considered a countable resource because the funds were being held on behalf of the applicant’s disabled grandson and not for the recipient’s personal ...

• The Importance of Beneficiary Designation Planning

  Created: Friday, 27 January 2012 00:00 Author: Nathan R. Olansen, Esq.

  Most people spend a lifetime accumulating retirement assets in qualified plans, IRAs and other tax deferred retirement accounts.  Often times, these accounts constitute a significant portion of a person’s wealth.  While most of the time the account ...

• Keeping the Vacation Home in the Family Using LLCs, QPRTs and Dynasty Trusts

  Created: Wednesday, 11 January 2012 14:42 Author: rackolansen

  Kelly Green, The Wall Street Journal, Who Gets the Vacation Home?: Is there a way to hand off a vacation home to the next generation so that everyone still wants to spend time together there?  Tensions often mount when a family figures out what to do wi...

• How to report 2010 Roth IRA rollovers and conversions

  Created: Wednesday, 11 January 2012 00:00 Author: Nathan R. Olansen, Esq.

  IRS issues guidance for reporting the income tax consequences of 2010 conversions to Roth IRAs for taxpayers that did not elect to include the entire value of the conversion as income on their 2010 income tax return. ...

• The Effect of Divorce on Special Needs Planning

  Created: Monday, 09 January 2012 00:00 Author: Jennifer L. Moccia, Esq.

  While the process of obtaining a divorce decree is rarely simple, the ordeal can become much more complicated when an involved family member, such as a spouse or child, has special needs.  Further, many attorneys who specialize in family law may not be a...

• Applicable Federal Rates for January 2012

  Created: Friday, 06 January 2012 00:00 Author: Nathan R. Olansen, Esq.

  Rev. Rul. 2012-2, 2012-3 IRB ...

• 53 Tax Breaks Expired on December 31, 2011

  Created: Friday, 06 January 2012 00:00 Author: Nathan R. Olansen, Esq.

  December 31st marked the expiration of 53 tax break commonly referred to as the “extenders.” ...

• House and Senate Approve Bill Temporarily Extending the Payroll Tax Cut

  Created: Tuesday, 27 December 2011 00:00 Author: Nathan R. Olansen, Esq.

  Late on December 22nd, House and Senate leaders agreed to end their stalemate over extending the payroll tax break, and have agreed to continue the 2% reduction in workers’ Social Security tax rate through the end of February 2012. ...

• Six Year-End Tips to Reduce 2011 Taxes

  Created: Thursday, 22 December 2011 00:00 Author: Nathan R. Olansen, Esq.

  The Internal Revenue Service wants to remind all taxpayers that with the New Year fast approaching, there is still time for you to take steps that can lower your 2011 income taxes.  Here are six tax-saving tips the IRS suggests you consider before the ...

• Rack & Olansen Attorney to conduct NBI Teleconference

  Created: Friday, 18 November 2011 00:00 Author: Nathan R. Olansen, Esq.

  Nathan Olansen, shareholder of Rack & Olansen, to conduct a national teleconference for National Business Institute on Friday December 30, 2011, titled “Estate Planning Basics.” ...