Higher Standard Deduction May Offset SALT Limit
This article is the third in a five-part series regardingthe Tax Cuts and Jobs Act signed into law December 22, 2017 The Tax Policy Center estimates that, of the approximately 46 million households that itemized deductions under the old law, about 19 million households will do so in 2018 — meaning 27 million fewer households…
Individual Income Tax Provisions
This article is the second in a five-part series regarding the Tax Cuts and Jobs Act signed into law December 22, 2017 MOST TAXPAYERS WILL BENEFIT FROM LOWER TAX BRACKETS AND HIGHER STANDARD DEDUCTIONS When the Tax Cuts and Jobs Act (“The Act”) was signed into law on December 22, 2017, American taxpayers were promised tax reductions…
Sweeping Tax Law Revision Affects Nearly Everyone
This article is the first in a five-part series regardingthe Tax Cuts and Jobs Act signed into law December 22, 2017 As you undoubtedly know, President Trump signed the Tax Cuts and Jobs Act three days before Christmas. This law, contained in over 500 pages, represents a sweeping reshuffling of tax policy reminiscent of tax laws signed…
Disability Advocates Prepare for Multiple Attacks on Lifeline Services
Advocates are bracing themselves for a rollback of community-based supports provided to individuals with disabilities. Regardless of your political affiliation, there are currently a number of challenges facing advocates of persons with disabilities in Washington, with several bills and policy changes that threaten the future of persons with disabilities and their families. The purpose of…
Post-Emancipation Support Available Only If Adult Child Is Under Guardianship
The Massachusetts Appeals Court recently clarified the obligation of a non-custodial parent to pay support for an adult disabled child beyond age twenty-three (23). In Vaida v. Vaida (No. 13-P-1827), the Court found that continued support beyond the age of emancipation is not available to adult children who are not incapacitated persons placed under guardianship. By way of…
Developing a Property Under M.G.L. Chapter 40B: What Developers Need to Know
Even the most experienced property developers can find themselves mired down in the complexities of 40B rules. Delays, litigation and opposition can drive up costs and potentially suspend development for an extended period of time – and time is money. Such problems, however, can be avoided not merely by understanding the law, but by effective…
How to Accept and Maintain a Security Deposit Properly from a Residential Tenant
Being a residential landlord in Massachusetts is not easy. There are many pitfalls for the inexperienced and even most experienced landlords. The problem that causes issues for most landlords, which typically comes up when they are trying to evict a tenant for nonpayment of rent or other lease breach, is G.L. c. 186, § 15B,…
Proper Titling of Estate-Plan Assets
Do you jointly or individually own your assets? And have you designated the proper beneficiaries on your retirement accounts and life-insurance policies? When it comes to beneficiaries and the proper titling of assets — identifying upfront who owns those assets, these items must be consistent with your estate-plan documents. CREDIT-SHELTER TRUSTS Let’s say your estate…
Trusts Are an Integral Part of Most Estate Plans
The importance of estate planning to reduce federal estate taxes has been significantly diminished due to recent tax law changes. However, trusts remain an integral part of most families’ estate plans. Here are some of the more important reasons why you should consider employing one or more trusts in your estate plan. REVOCABLE CREDIT SHELTER…