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Last month in this blog I updated you on some of the new Social Security and Medicare numbers for 2022.  With a cost of living adjustment (COLA) of 5.9% as a result of higher inflation, next year’s increase is the largest in some time. Many other federal programs are tied to the

Much of the economic news recently has focused on inflation rates.  The current rate of inflation is at the highest its been in the last 30 years, 6.2% on an annual basis. Against that backdrop, the Social Security Administration has announced it’s cost of living adjustment for the coming year 2022. The

In my post last week I talked about recent draft legislation which would make changes to federal income, gift and estate tax laws.  Many of our clients have called asking what they should do and I must remind callers that nothing has changed yet.  We are at the beginning of what is

We have received many calls about upcoming changes to the federal income, estate and gift tax laws.  To be clear, nothing has changed yet.  Draft legislation has been proposed by the House of Representative’s Ways and Means Committee but right now it is nothing but a proposal.  Things can and often do change

Last year in response to the COVID crisis, first New York and then New Jersey temporarily allowed for the execution of documents that must be signed before a notary to be done remotely.  Legal documents such as powers of attorneys and wills could now be signed with a notary looking on

In my post last week, I reviewed what we know so far about President Biden’s proposed tax law changes.  One change would increase the tax rate on capital gains, which currently is taxed at a  lower rate than  regular income. Another change relates to the provision that wipes out the capital gains tax for