Binding Arbitration and Admissions Agreements
We frequently review long term care facility agreements for our clients. We want to be sure they understand what is contained in these agreements which can be 30 pages or more with multiple attachments and exhibits. It is a legally binding contract that contains rights and responsibilities for each party but the
Some Important Numbers for 2022
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
New Tax Law Changes Coming? Part 2
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
New Tax Law Changes Coming ? – Part 1
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
Remote Notary Revisited
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
Biden Tax Plan Begins to Take Shape – Part 2
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
Biden Tax Plan Begins to Take Shape – Part 1
President Biden in his speech to Congress last week gave us some details on the tax bill he will attempt to get passed. While it’s very early in the process, and what ultimately becomes law often varies greatly thru the back and forth negotiation process in Congress, let’s take a look at
Some Words About the Latest Stimulus Payment (Part 2)
In last week’s post I wrote about the latest stimulus payment. Eligibility is based on your income as reflected on your income tax return. What happens if you have not filed your 2020 income tax return? The IRS will use your 2019 income tax return in that case to
Some Words About the Latest Stimulus Payment (Part 1)
This month Congress passed and President Biden signed into law a $1.9 trillion COVID 19 stimulus package. This new law includes, among other things, another immediate payment to millions of Americans in need. Like the first 2 stimulus payments (which were $1200 last year and $600 in January, 2021 for eligible persons),
2nd Stimulus Checks – Same as the 1st?
Last month Congress and President Trump finally agreed to additional stimulus checks to be sent to Americans in need during the current pandemic. This is the second such round of payments since the COVID crisis hit. There are some differences, however between this second payment and the first. The most important change is