Estate Taxes & Irrevocable Trusts
Estate tax is applied to any estate worth more than a set annual amount. One way to avoid excessive estate taxes is through an irrevocable trust. Wealth placed into an irrevocable trust is not conside...
Legal
What is the generation skipping tax (GST)?
The purpose of the GST is to tax gifts and inheritances that are given to skipped generations in the same way that gifts and inheritances are taxed that are given to the immediate heirs. Any gift give...
The Federal Generation Skipping Transfer Tax or GST
Generation-skipping transfer (GST) tax imposed on gifts or bequests made directly to grandchildren or great-grandchildren instead of passing to the next generation. Basically, the tax skips a generati...
Gifting More Than $15,000 To Anyone I Want
Can I give away more than $15,000 to an individual in a year? If so what happens?...
Can I transfer ownership of assets to my child who is a minor to avoid or reduce my tax liability?
Parents of minor children often wonder if they can reduce their tax liability by transferring ownership of their assets to their minor children, who reside in a much lower tax bracket. Whether this st...
Imposition of Federal Gift Tax
When does a gift become taxable?...
State Gift Taxes
For the most part, the gift taxes that are set by the federal government are the only gift taxes that apply to monetary gifts and estate gifts that are given. These gift and estate tax rates are invar...
Reporting of Gifts for Purposes of the Federal Gift Tax
When must I report my gifts for federal gift tax purposes...
Social Security Tax
Social security tax and social security benefits are part of the system where working individuals pay into the social security system in order to receive payments during retirement or other periods wh...
New Copyright Rule Is Good News for Filmmakers
The US Copyright Office recently published a rule that allows broader use of video clips from previous works in fictional films....
Asbestos Contamination of Baby Powder Concealed by Johnson & Johnson: Reuters Report
Cancer victims who attribute their disease to the lifelong use of talcum powder have obtained substantial jury verdicts against Johnson & Johnson....
Sinclair Employees Say They Can’t Afford to Quit
Sinclair Broadcast Group, Inc. is making it hard for employees to quit by imposing financial penalties if they do so — even if they later do not go to work for the competition....
Can I File Chapter 7 Bankruptcy on My Gambling Debts?
Bankruptcy MAY BE an option, but it is not guaranteed.  A gambling debt obtained fraudulently disqualifies a debtor from using a Ch. 7 bankruptcy....
PostEnforcing Gambling Debts in 2026 (Laws Explained)
It is challenging because it depends on location of gambler, the location of activity, and legality. Also frustrating to enforce if there are no assets or gambling operation is closed. ...
Is Starting an Online Gambling Site from My Home Legal?
If online gambling is not authorized and regulated in your state, you cannot legally launch a home-based online gambling operation. Unlicensed gambling is always illegal....
Is Gambling at Internet Cafes Legal?
The answer is almost certainly not, because any fair analysis of what is going on at cybercafes shows gambling, which means it is illegal unless licensed by the state....
Can I Host a Poker Tournament in My Home with Friends, Only for Entertainment Value?
The answer depends on what you mean by “entertainment value”, the laws where you live regarding "chance", and your state's laws on social gambling....
Gambling With Your Friends And Neighbors — Social Gambling
Social gambling is a game played primarily for fun or to socialize with among friends, family, neighbors, or co-workers in a private location....
Illinois Passes a Law Limiting Use of Jailhouse Snitches
In a victory for advocates of fair trials for individuals accused of crime, the State of Illinois has adopted a law that will restrict the use of jailhouse snitch testimony by prosecutors....
What is illegal gambling?
Any gambling not specifically authorized by the state as it sees fit is illegal. If gambling is legal, only the types of gambling in the state are permitted....
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