Connors & Sullivan attorneys at law, pllc
Tell Us About Your Estate Planning Needs:
718-414-6209

Tax Law Archives

How do taxes work for irrevocable and revocable trusts?

Whenever money is involved, odds are high the Internal Revenue Service (IRS) is also involved. One example involving estate planning is the use of trusts. Trusts are essentially legal tools that govern the distribution of certain funds. This piece will discuss how the IRS taxes two main types of trusts: revocable and irrevocable.

When is an equal distribution of assets a bad idea?

It is common for those who put together an estate plan to attempt to distribute assets to heirs in equal portions. The idea behind the move is logical — each kid gets an equal share of the parent’s or grandparent’s assets. But does it end up working this way?

Taxes & gift giving: Did recent tax reform change anything?

An estate plan accounts for more than just a transfer of assets at one’s death. It guides financial planning, health care decisions and even how we gift. Anyone that puts together an estate plan with a one size fits all mentality is unlikely to make the most of the plan. When drafted wisely, an estate plan can do more than just transfer assets — it can result in serious tax savings. 

Three common audit triggers

Tax season is upon us. Those who are getting ready to file their tax returns may wonder whether this is the year they are chosen for an audit. Audits are generally not random. There are some red flags that can increase a taxpayer’s risk of a federal audit.

Year-end business radar should include a tax advantage sweep

Headlines at the end of 2017 heralded passage of the Tax Cuts and Jobs Act. Many of the provisions of that law carry implications as we close out 2018. As a New York business owner, are you up to speed on the implications of the reforms for your situation?

Your Trusted Guides For Every Stage Of Life And Every Step
Of The Estate Planning Process
EMAIL US FOR A RESPONSE

Set Up Your Free Initial Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Connors & Sullivan attorneys at law, pllc

Visit us at one of our 5 locations.

Brooklyn Office
7408 Fifth Avenue
Brooklyn, NY 11209

Phone: 718-414-6209
Fax: 718-238-2616
Brooklyn map

Bayside Office
200-20 Northern Boulevard
Bayside, NY 11361

Phone: 718-414-6209
Bayside map

Middle Village Office
79-43 Metropolitan Avenue
Middle Village, NY 11379

Phone: 718-414-6209
middle village map

Staten Island Office
1250 Hylan Boulevard
Staten Island, NY 10305

Phone: 718-414-6209
staten island map

Manhattan Office
880 Third Avenue
New York, NY 10022

Phone: 718-414-6209
Map & Directions