Tag Archive for "tax law" | Davis Law Group, P.C.

Tax Basis: What You Need to Know and How It Can Impact Your Estate

“Tax basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about.

Nevertheless, a basic understanding of the concept can be very helpful for understanding important estate planning strategies used by your attorney and financial...

August 11, 2021

Davis Law Group

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Davis Law Group

757, attorney, beneficiaries, capital gains, capital gains tax, Chesapeake, Davis Law Group, death tax, Douglas Davis, estate, estate planning, estate tax, greenbrier, Hampton Roads, heirs, hrva, inheritance, Law, legal, Norfolk, Portsmouth, southeast Virginia, Suffolk, tax, tax attorney, tax basis, tax changes, tax code, tax law, taxes, Tidewater, va, Virginia, Virginia Beach

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198

Gifts Your Family Will Love but the IRS Won’t Tax

What changes will we see to the tax code in the near future?

At this point it is all speculation but don’t let that prevent you from making tax-free annual exclusion, medical-payment, and educational gifts to or for the benefit of your loved ones.

Make Annual Exclusion Gifts

Annual exclusion gifts are transfers of money or property in...

August 4, 2021

Douglas Davis

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Estate Planning & Administration

attorney, beneficiaries, Chesapeake, coastal virginia, counsel, Davis Law Group, educational exclusion, estate attorney, estate plan, estate planning, estate planning and trust administration, finances, financial planning, gifts, greenbrier, Hampton Roads, heirs, hrva, IRS, Law, law firm, lawyer, legal, medical exclusion, Norfolk, Portsmouth, southeast Virginia, Suffolk, tax, tax code, tax free gifts, tax law, taxable gifts, taxable income, Tidewater, va, Virginia, Virginia Beach

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166

The SECURE Act: the Good, the Bad and the Confusing

On January 1, 2020, the most impactful retirement account legislation in decades became law.

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) will have a positive impact for many older Americans but could have negative tax consequences for many beneficiaries of their retirement accounts.

The Good and the Bad (and the Confusing)

The SECURE Act...

February 20, 2020

Davis Law Group

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Estate Planning & Administration

757, attorney, Chesapeake, coastal virginia, Davis Law Group, estate attorney, estate law, estate planning, financial planning, greenbrier, Hampton Roads, hrva, IRA, ira distributions, IRS, Law, lawyer, Norfolk, Portsmouth, retirement planning, secure trade act, southeastern virginia, Suffolk, tax code, tax law, Tidewater, va, Virginia, Virginia Beach

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517

Get Started on Your 2018 Taxes NOW!

As October draws to a close and the end of the year is rapidly approaching, the next few months are an opportune time to start your year-end tax planning for 2018.

It’s particularly important to start your tax planning early this year because of the significant changes to the tax law that became effective in 2018....

October 26, 2018

Douglas Davis

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Business, Business Planning

2018 taxes, 757, assets, attorney, business attorney, business lawyer, business tax law, business taxes, Chesapeake, coastal virginia, corporate attorney, corporate law, corporate tax law, Davis Law Group, Douglas Davis, estate law, financial advisor, greenbrier, Hampton Roads, hrva, law firm, law group, lawyer, new tax law, Norfolk, personal financial advisor, Portsmouth, real estate, southeastern virginia, Suffolk, tax, tax code, tax deductions, tax law, Tidewater, va, Virginia, Virginia Beach, year end, year end planning

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Tag Archives: tax law

Tax Basis: What You Need to Know and How It Can Impact Your Estate

“Tax basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about.

Gifts Your Family Will Love but the IRS Won’t Tax

What changes will we see to the tax code in the near future?

Make Annual Exclusion Gifts

The SECURE Act: the Good, the Bad and the Confusing

On January 1, 2020, the most impactful retirement account legislation in decades became law.

The Good and the Bad (and the Confusing)

Get Started on Your 2018 Taxes NOW!

As October draws to a close and the end of the year is rapidly approaching, the next few months are an opportune time to start your year-end tax planning for 2018.

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