Cooper Levenson attorneys to present at NJCPA Atlantic Cape Chapter In-Person Breakfast Briefing Seminar Jan. 19, 2023
ATLANTIC CITY, N.J. – Tax attorneys from the Florida and New Jersey offices of Cooper Levenson will present at an in-person Breakfast Briefing on Thursday Jan. 19, 2023 at the Atlantic City Country Club, Northfield, NJ. Speakers will include Robert E. Salad, Louis Niedelman, Michael Salad, and Jarad Stiles. Details: 7:30 – 8:30 a.m. breakfast […]
<strong><em>‘TIS THE SEASON FOR INCREASED GIFT AND ESTATE TAX EXEMPTIONS</em></strong>
The Internal Revenue Service (“IRS”) recently published Rev. Proc. 2022-38, which announced increases to the estate and gift tax exemption amounts. For 2023, the estate and gift tax exemption will be $12.92 million per individual, up from $12.06 million in 2022. This increase means that a married couple may collectively shield up to $25.84 million […]
New York’s Updated Nonresident Audit Guidelines Lowers the Threshold to Be Considered a New York Statutory Resident for Tax Purposes
In the two years since the outset of the COVID-19 pandemic, there has been a mass exodus of New Yorkers leaving the Empire State for warmer, more tax-friendly states such as Florida and Texas.[1] In fact, New York ranked third among states in which people moved from in 2021.[2] More than 33,500 New Yorkers moved to […]
Cooper Levenson Business & Tax Law Group Counsel Linode through Acquisition by Akamai Technologies
Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced it has completed its acquisition of Linode. On February 15, Akamai announced an agreement for Akamai to acquire Linode in exchange for approximately $900 million. Cooper Levenson, P.A. represented Linode with a corporate and tax team led by firm President Robert E. Salad and […]
Cooper Levenson Attorneys to present at New Jersey Society of CPAs Atlantic/Cape May Chapter Webinar February 17
Tax attorneys from Cooper Levenson will present a webinar – Latest Developments in Estate, Gift, Generation-Skipping, Federal and State Income Taxation, on Thursday Feb. 17, 2022. Join a discussion of how estate, gift, and generation-skipping transfer taxes work, including who is considered a “skip” person, indirect skip gifts, what triggers the generation-skipping tax, as well as the […]
Cooper Levenson Announces New Partners
Atlantic City, N.J. — Dec. 28, 2021 — Cooper Levenson is pleased to announce two attorneys as the firm’s newest partners: Jennifer B. Barr of the Atlantic City office and Brittany A. Bonetti, based in Cherry Hill and Atlantic City. “These individuals have proven themselves in terms of their professionalism, their expertise, and their dedication. […]
Is Florida now a Community Property State?
On June 29, 2021, Governor Ron DeSantis signed into law Senate Bill 1070, known as the Florida Uniform Directed Trust Act (the “Act”), which expands Florida’s directed trust laws. A directed trust is a trust that appoints a third-party (often called a trust director or trust protector) to provide direction to a trustee regarding trust […]
The Crypto Estate
According to Google Trends, the amount of people searching “cryptocurrency” or “crypto” reached an all-time high this year. However, many people do not understand the intricacies or implications of cryptocurrency. Using and investing in cryptocurrency creates considerable estate planning and tax implications. Cryptocurrency is a form of digital currency that is used to purchase goods […]
Changing Residency from New Jersey to Florida
Now more than ever, people are contemplating changing their state residency. We are frequently approached by clients seeking to relocate to Florida for financial reasons but they do not always understand the financial benefits or the process of establishing Florida residency. To help you decide whether a permanent move from New Jersey to Florida is […]
Part Two: The Mechanics of an ABLE Account
After part one of our article regarding ABLE accounts, we received several inquiries about how funds in ABLE accounts may be invested, how ABLE accounts differ from a 529 college savings plan, what constitutes permissible uses of ABLE account funds and what happens to account funds after the participant passes away. “ABLE” is an acronym […]