Philadelphia Estate and Tax Attorney Blog

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

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

Posted: November 19, 2013

Fraud Alert: Typhoon Haiyan 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… Read more »

2013: 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

2013 IRS TAX SCAM ALERT: PHONY IRS AGENTS 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… Read more »

Same-Sex Marriage Tax Guide: Essential Tax Rules

Same-Sex Marriage Tax Guide: 16 Essential Tax Rules and Tips

Posted: October 17, 2013

Same-Sex Marriage Tax Guide: Essential Tax Rules and Tips Federal tax rules for same-sex couples have recently been issued in response to the Supreme Court decision in Windsor, No. 12-307 (U.S. 6/26/13). This landmark case invalidated a key provision of the 1996 Defense of Marriage Act (“DOMA”) and resulted in major changes in the tax… Read more »

2013 Year End Tax Planning Strategies:

2013 Year End Tax Planning Strategies: Learn What Can Be Done Now To Save Taxes and Prevent Costly Mistakes

Posted: October 08, 2013

2013 Tax Planning Overview As the year-end quickly approaches, there is still time to do some year-end tax planning. This 2013 tax year will be tough on many taxpayers due to recent tax law changes and the uncertain future of tax reform. Basically, taxpayers will have to deal with the following recent tax law changes:… Read more »

Inheritance Tax Exemption For Family Businesses In Pennsylvania

Inheritance Tax Exemption For Family Businesses In Pennsylvania

Posted: August 23, 2013

Pennsylvania Provides Special Inheritance Tax Break For Certain Family Owned Businesses Pennsylvania has provides an inheritance tax break for transfers of businesses to certain family members for estates of someone who died on or after July 1, 2013. Qualification For Inheritance Tax Exemption: To qualify for this Qualified Family Owned Business exemption under new Section… Read more »

Playing Games With Employees: IRS May Come Knocking

Employers Playing Employment Tax Games With Employees: IRS May Come Knocking

Posted: July 09, 2013

The IRS Is Aware That Employers Do Not Comply With Employment Tax Rules and Have Increased Enforcement The Treasury Inspector General of For Tax Administration recently issued a report entitled Employers Do Not Always Follow Internal Revenue Service Determination Rulings that indicated the employers just do not get it when it comes to treating workers… Read more »

Estate Planning: Now What? A Must Read For Everyone

Posted: January 13, 2013

Estate Planning Strategies We now know what the federal estate tax laws will be this year and in the future.  Our federal government has stated that these estate tax rules are now permanent after a decade of uncertainty.  (A cynic may say that these federal tax laws are permanent until our federal government says they… Read more »

Hurriance Sandy Casualty Loss

Hurricane Sandy: Tax Deductions For Casualty Losses

Posted: November 06, 2012

Casualty Loss Deduction For Hurricane Sandy My last post talked about when we can trash tax and other important records. Well, Hurricane Sandy brought a whole new meaning to the concept of trashing records and a whole lot more. Experts estimate that Hurricane Sandy has caused $50 billion of damage. Eqecat Inc., a financial advisory… Read more »

Tax Record Retention Guidelines

Can I Trash It Now? Tax Record Retention Guidelines

Posted: October 23, 2012

Tax Record Retention Guidelines Papers, papers and still more papers. When can I destroy these documents? There are no hard and fast rules in this area. The following offers some general guidance to carefully consider when determining any destruction of documents. Against the urge to purge, remember that maintaining documents and records is often essential… Read more »

2012: Philadelphia Now Allows A Tax Credit for Hiring Veterans From 2012 To 2014

2012: Philadelphia Now Allows A Tax Credit for Hiring Veterans From 2012 To 2014

Posted: September 23, 2012

Philadelphia Tax Credit For Hiring Veterans Between July 1, 2012 and June 30, 2014 Philadelphia has recently amended its Business Privilege Tax (business income and receipts tax) to allow a credit for employment of veterans of the Armed Forces. This new Philadelphia tax law defines a “veteran” as a person who has received an honorable… Read more »


Risky Business: Playing Fast and Loose with Worker Classification

Posted: September 09, 2012

EMPLOYERS PLAYING FAST AND LOOSE WITH WORKER CLASSIFICATION CAN BE DANGEROUS TO THE FINANCIAL HEALTH OF A BUSINESS In light of the IRS’s Voluntary Worker Classification Settlement Program (VCSP) issued in 2012, employers need to consider the benefits and risks of their current classification of employees as independent contractors. This window of opportunity is only… Read more »

IRS Slams Taxpayers: Attention to Tax Details Matter

IRS Slams Taxpayers: Attention to Tax Details Matter

Posted: August 17, 2012

Failure To Pay Attention To Detailed Tax Requirements and Contemporaneous Documentation Can Result in IRS Disallowing Tax Deductions Taxpayers found out the hard way that the documentation rules imposed by the IRS better be followed exactly and to the letter.  In Durden, TC Memo, 2012-140, taxpayers claimed a $22,517 charitable contribution for 2007.  The IRS… Read more »

Helping Elderly Parents with Their Finances and Estate Plan

Posted: July 29, 2012

How To Speak To Parents About Finances and Estate and Gift Tax Planning As our older parents age it is harder for them to deal with the financial details of their lives. With the complicated financial products out there and the low-interest rate environment it becomes very difficult for them to make sound financial decisions…. 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.