An update regarding Coronavirus (COVID-19) Dear Clients and Friends, As a valued member of the Russo Law Group family, I appreciate the trust you place in our law firm. We are closely monitoring the outbreak developments and CDC recommendations regarding…
The Setting Every Community Up for Retirement Enhancement Act (more commonly referred to as the SECURE Act) has received a lot of buzz in the estate and retirement planning communities lately thanks to the significant changes it has made to…
You can give to a charity whenever you are able and willing to make a donation. However, for tax purposes, if you want the contribution to be tax-deductible in a given year you must make the donation by the end…
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…