Philadelphia Estate and Tax Attorney Blog


The City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2015

Posted: June 30, 2015

Philadelphia business owners and those that withhold taxes on employees that live in Philadelphia should take notice that the City of Philadelphia has reduced the City Wage Tax rate effective July 1, 2015. • The new Wage Tax rate for residents of Philadelphia is 3.9102% (.039102). • The new Wage Tax rate for non-residents of… Read more »

Philadelphia Estate and Tax Blog Named The Best Tax Blog in America For 2015

Posted: March 17, 2015

My very own Philadelphia Estate and Tax Attorney Blog has just won as the Best Tax Blog In America for 2015! I am most appreciative of all of you who took the time to vote for my blog.  You can see the final voting results by going to: http://wallethub.com/blog/best-tax-blog/10470/?user=sjfpc. Thanks so much to everyone who voted!

Philadelphia Businesses Must Now Provide A New Tax Notice To Employees and Non-Payroll Workers

Posted: January 20, 2015

Philadelphia notice Requirements for Businesses for 2015 If you are a business that has employees or independent contractors who live in Philadelphia, the City of Philadelphia is now imposing new notice requirements. Beginning January 1, 2015, Title 19, Chapter 19-4000, of the Philadelphia Code, entitled “Income Inequality Initiative – Earned Income Tax Credit,” requires all… Read more »

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2014 Year-End Tax Planning Guide For Businesses: Discover 9 Proven Tax Planning Strategies

Posted: December 26, 2014

The arrival of year-end presents special opportunities for most small businesses to take steps in lowering their tax liability. The starting point is to run projections to determine the income and tax bracket for this year and what it may be next year. Once this is known, decisions can be made as to whether any… Read more »

Year End Tax Planning Tips: Instantly Discover What You Can Do Now To Start Saving Taxes Before Year End With Proven Tax Attorney Strategies

Posted: November 29, 2014

As the year-end quickly approaches, there is still time to do year-end tax planning to generate significant tax savings. As many of you know, changes to the tax laws in 2013 made many tax rates (subject to cost of living adjustments) and certain tax breaks permanent. But some tax breaks expired in 2013 (discussed in… Read more »

college-tuition-tax-breaks

College Tuition: Discover How Grandparents Can Help Their Grandchildren and Save Taxes Too

Posted: September 01, 2014

With college tuition coming due, families should consider tax efficient ways to pay for these expenses. Grandparents who wish to help their children with tuition costs can take advantage of some special gift tax breaks. Grandparents have the usual annual present interest gift tax exclusion (now $14,000) and a lifetime exclusion (now $5,340,000). When a… Read more »

Weddings: Quick and Easy Tax Guide For Those Getting Married and Newlyweds

Posted: July 14, 2014

The excitement, joy and anticipation of getting married can be almost overwhelming. With the planning that goes into the wedding it is easy to overlook the tax implications of marriage. Although taxes are probably not high on your summer wedding plan checklist, it is important to be aware of the tax changes that come along… Read more »

US Citizens Living Outside America: Streamlined Foreign Offshore Procedure Offers Tax and Compliance Relief

Posted: June 19, 2014

A couple of weeks ago, I had someone come in my office who has lived abroad since he was 7 years old. He is a citizen of the United States and Netherlands. He has never filed United States income tax returns. We discussed the general rule that US citizens must file returns and pay tax… Read more »

Philip Seymour Hoffman: Estate Planning Lessons For Us and Especially Women

Posted: March 04, 2014

The sad and tragic death of Philip Seymour Hoffman at age 46 last month is yet another reminder of the importance of estate planning. Most of us go along each day not thinking or worrying about what would happen to our loved ones if we suddenly died. Some, in an attempt to be conscientious, draft… Read more »

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The Biggest (Tax) Loser: Misguided Gifts of Real Estate By Uninformed Do It Yourselfers, Realtors & Attorneys

Posted: January 10, 2014

With the increase of the federal estate tax exemption to $11,580,000 in 2020, most taxpayers are not subject to federal estate taxes. The focus for many now has shifted to the income tax implications that arise when wealth passes to the next generation. With no regard to the income tax implications, many times elderly people… Read more »

Small Businesses: 8 Great Year-End Tax Planning Tips and Tricks: A Must Read

Posted: December 22, 2013

The arrival of year-end presents special opportunities for most small businesses to take steps in lowering their tax liability. The starting point is to run projections to determine the income and tax bracket for this year and what it may be next year. Once this is known, decisions can be made as to whether any… Read more »

Estate Planning 2013: Now What? A Must Read For Everyone

Posted: November 26, 2013

On Thanksgiving when you look around the room at your loved ones, think about whether they are legally protected with an estate plan that works to protect them and minimize taxes when you were gone. Estate Planning 2013: Now What? A Must Read For Everyone.

Fraud Alert: Latest Reprehensible Tax and Financial Scam: Phony Charitable Contributions To Aid Typhoon Victims

Posted: November 19, 2013

The Internal Revenue Service has just issued a consumer alert about possible scams taking place in the wake of Typhoon Haiyan.  As most of us know, on Nov. 8, 2013, this typhoon known as Yolanda in the Philippines – made landfall in the central Philippines, bringing strong winds and heavy rains that have resulted in… Read more »

Renewed Warning: IRS Tax Scam Alert and What To Do To Protect Yourself: Scary and Disturbing Tactics By Phony IRS Agents

Posted: November 02, 2013

The IRS just renewed its October, 2013 warning about a pervasive phone scam that continues to target people across the nation, including recent immigrants. The Treasury Inspector General for Tax Administration called it the largest scam of its kind. As of March 20, this tax division reported that it has received reports of over 20,000… Read more »

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.