If you live in the DMV area and are trying to avoid creating a major headache for your family/friends after your death, pay attention to the case I am about to outline. It bluntly shows the importance of attending an estate planning session at JDKatz as soon as possible.

In a potentially damaging move during a likely Oscar-winning year for Julia Roberts, her half-sister, Nancy Motes, committed suicide this past week.

Roberts is up for Best Supporting Actress for “August: Osage County.” On the other hand, Nancy, who complained that she could not compete with her skinny and more talented sister, was an aspiring actress who had most recently worked as a production assistant on Glee.

Julia Roberts (left) and half-sister, Nancy Motes (right)

This Polaroid shot is a close-up of the picture Motes is holding in the picture above this picture. Motes (left) is standing with Roberts (right) when she was around 22 years old.

This Polaroid shot is a close-up of the picture Motes is holding in the picture above. Motes (left) is standing with Roberts (right) when she was around 22 years old.

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Hollywood is the movie production capital of the United States. Bollywood is Hollywood’s Indian counterpart.

So what exactly is Vollywood? It could refer to whichever region becomes the video game production capital of our country. New tax policy, not any video game cheats, is what could help Austin, Texas gain this title of Vollywood. Continue Reading…

What is important is that the financial sector, which bears a disproportionate share of the blame for the deep recession that is still affecting employment and growth, share in the costs of insuring against future bailouts and be forced to restructure itself to better insulate the rest of the economy from excessive risk.

-Jeremy Scott, Forbes

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A tax, which would cost you $1 for every 800 cups of coffee you bought, does not seem that bad at all. Continue Reading…

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.

Every tax year stands on its own, and by the time you start figuring your taxes in April it’s usually too late to do much about it. That’s why a quick check-up before year end is a great idea and although there’s no shortage of tax advice about moves you should make, that doesn’t mean you should be paralyzed.

First of all, you must consider your own circumstances. Focus on what’s most important to you and what has the biggest bottom-line effect. If you need ideas, here are three of the best ones that we can provide: Continue Reading…

The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution, has announced its seventh annual Lump of Coal Award for the worst tax and fiscal policies of 2013. The year was a curious mix of really bad ideas and dithering. After all, Congress’s finest moment may have been its December budget mini-deal—a decision that effectively ignored every one of the great fiscal questions facing the nation. The winners of the 2013 Lump of Coal Award are: Continue Reading…

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They are invisible taxes that consumers don’t know they’re paying on cigarettes, alcohol, gambling, and pot. Thanks to accountingschoolguide.com, check out this infographic to see what things would look like in the absence of these sin taxes. Continue Reading…

According to Janet Larsen, Director of Research at Earth Policy Institute, there are more than 18,000 sharing bikes across the country in 34 official systems.

They provide as alternatives to private vehicles, taxis and mass transit. Many ride them in urban areas with the hope of reducing traffic congestion, noise, and air pollution. Bike share programs allow for individuals to rent a bike at one docking station, and they can return them to the same station or to a different docking station. Even with all the stated benefits, the IRS believes that these bike share programs are still taxable.

bike share infographic

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Picture 1(2)The Foreign Account Tax Compliance Act, or FATCA, is frequently referenced in the news as the cause of global bank transparency. In reality, though, bank secrecy was really broken by the John Doe summons. In 2008, the John Doe summons blew the lid off the hushed world of Swiss banking. A judge allowed the IRS to issue a John Doe summons to UBS for information about U.S. taxpayers using Swiss accounts. Continue Reading…