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FISCAL CLIFF NOTES – INCOME AND CAPITAL GAINS TAX RATES

FISCAL CLIFF NOTES – CAPITAL GAINS Under the new American Taxpayer Relief Act (“ATRA”), taxpayers whose ordinary income is generally taxed at a rate below 25%, capital gains and dividends will permanently be subject to a 0% rate.  Taxpayers who are...

Inherited IRAs

Under Maryland law, retirement accounts (IRAs, 401(k)s, 403Bs, etc.) are exempt from the claims of creditors.  However, the 7th US Circuit Court (Maryland is in the 4th Circuit) has recently declared that Inherited IRAs do not enjoy the same protections.  While...