Archives For JDKatz News

The law firm of JDKatz, P.C. is proud to announce that two of its attorneys have been selected for inclusion in the 2014 Maryland Super Lawyers and “Rising Stars” lists.

Senior Associate Jeremy Rachlin has been selected to the 2014 Maryland Super Lawyers List for publication in Maryland Super Lawyer’s Magazine and Baltimore Magazine.  Jeremy was recognized in the area of Estate and Trust Litigation.  Each year, no more than five percent of the lawyers in the State of Maryland are selected for inclusion on the annual Super Lawyers List.

Additionally, Associate Timothy Canney has been selected to the 2014 Maryland Super Lawyers Rising Stars List for publication in Maryland Super Lawyer’s Magazine and Baltimore Magazine.  Tim was recognized in the area of Tax: Business Law.

Super Lawyers is a listing of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement, and “Rising Stars” recognizes the top up-and-coming attorneys in the state who are under 40 years old and/or have practiced for less than 10 years.  The annual selections for these lists are made using a patented 12-phase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area.
JDKatz: Attorney's At Law

JDKatz, P.C. is a full-service law firm focused on tax law, business services, and estate planning. We are dedicated to minimizing your existing liability and risks while providing valuable tax planning to streamline your tax issues in the future. Please call us at 301-913-2948 to schedule an appointment to meet with one of our trusted attorneys.

PLANNING FOR BUSINESSES [Part 7/7]

Renewable Resources Credit

ATRA modified the Code Sec. 45 renewable electricity production tax credit for electricity produced from wind and other qualified facilities. ATRA replaced certain placed-inservice deadlines with new deadlines and revised certain definitions, including the term “municipal solid waste.” The amount of the credit varies depending on the type of technology. Continue Reading…

PLANNING FOR BUSINESSES [Part 6/7]

15-Year Recovery For Leasehold/Retail Improvements, Restaurant Property

ATRA extended through 2013 the 15-year recovery period for qualified leasehold improvements, qualified retail improvements and qualified restaurant property. To qualify for this accelerated recovery period, the qualifying property must be placed in service before January 1, 2014. Continue Reading…

PLANNING FOR BUSINESSES [Part 5/7]

Businesses seeking to maximize tax benefits through 2013 year-end tax planning may want to consider two general strategies:

  1. Use of traditional timing techniques for income and deductions; and
  2. Special consideration of significant tax incentives (known as tax extenders) scheduled to expire at the end of 2013. Continue Reading…

PLANNING FOR INDIVIDUALS [Part 4/7]

Same-Sex Marriage

On June 26, 2013, the U.S. Supreme Court struck down Section 3 of the Defense of Marriage Act in E.S. Windsor, 2013-1 ustc 50,400. The Court held that Section 3, which had defined marriage for federal purposes as the union of one man and one woman, was unconstitutional. Subsequently, the IRS announced a general rule in Rev. Rul. 2013-17 recognizing same-sex marriages nationwide. Continue Reading…

PLANNING FOR INDIVIDUALS [Part 2/7]

Surtax On Net Investment Income (NII)

Starting in 2013, higher-income taxpayers may be liable for a 3.8 percent NII surtax. The NII surtax on individuals equals 3.8 percent of the lesser of: Continue Reading…

Year-end 2013 brings many new planning opportunities along with the traditional year-end tax planning strategies. It also brings challenges for both individuals and businesses.

There is much for taxpayers and their tax advisors to consider in taking action before 2013 ends, including the important changes made by the American Taxpayer Relief Act of 2012 (ATRA) (signed into law on January 2, 2013), the provisions in the Patient Protection and Affordable Care Act of 2010 (Affordable Care Act) (scheduled to take effect in 2013, 2014) the Supreme Court’s decision on same-sex marriage and the release of significant new IRS rules on many pressing issues.

There is also the prospect of comprehensive tax reform in 2014, which will require some “crystal ball” forecasting of what Congress may or may not do in the coming year. On top of everything, the IRS shutdown in October could delay the start of the 2014 filing season, although the long-term effects have yet to be determined.

This week-long CCH briefing explores some of the 2013 year-end planning opportunities available to taxpayers, especially as the result of provisions that are new-for-2013 and those that at the moment are scheduled to expire after 2013. Continue Reading…

It turns out that the summer time could be the best time to be thinking about your taxes. Planning halfway through the year is more beneficial because you have a good idea of what your earnings are going to be and you will have ample time to make the necessary changes to cut down on the taxes you will owe.

With the help of Fox Business, here are the top 10 mid year tax moves to make now.

Continue Reading...

The Internal Revenue Service will stay open for business next Monday, July 22, 2013, despite a previously scheduled furlough day. Continue Reading…