In general, your total charitable deductions are limited to no more than 60% of your adjusted gross income (AGI). However, only donations to certain organizations as defined by the IRS qualify for the highest limit. These organizations include, but are…
Not all donations are eligible tax deductions. In order to be eligible for a charitable contribution tax deduction, the recipient charity must be duly qualified by the Internal Revenue Service (IRS). This means that gifts to needy relatives, friends, neighbors,…
In order to get the potential tax benefits of a charitable contribution of money or property, you must file an IRS Form 1040 and itemize your deductions on “Schedule A.” If you do not file an IRS Form 1040 then there…
Archbishop Sheen was known for his evangelism, radio broadcasts, and television show “Life is Worth Living”, which aired nationwide in the 1950s. For the last several years, Catholic dioceses have been at odds as to where his mortal remains should…
VINCENT J. RUSSO QUOTED IN NEW BRANDING BOOK – Branding in a Digital World – How to Take an Integrated Marketing Approach to Building a Business – Garden City, NY, December 27, 2019 – Vincent J. Russo of Long Beach,…
There is a significant amount of mystery and misunderstanding about the differences between Original Medicare and Medicare Advantage that can be harmful when seniors and individuals who are eligible for Medicare consider what plan is best for them. What is…
In New York, an executor is entitled to commissions for the services that he or she provided on behalf of the estate. It is important to review the terms of the decedent’s Will to see if there are any provisions…
A child’s very first account is likely a custodial account established at a bank, brokerage firm or with a mutual fund company. The goal is to provide for life milestones of the minor such as college or homeownership. Although the…
As Elder Law attorneys we advise our clients to execute durable powers of attorney in order to ensure that someone they trust is authorized to manage their property in the event that they no longer have the capacity to do…
Today, many assets exist only in an electronic form. These digital assets can result in more complexity when settling a loved one's estate. The Role of An Executor or Administrator The ordinary role of an executor or administrator is to…