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Important Update to Federal Estate and Gift Tax Exemption and Exclusion Amounts for 2024

2/21/2024 | General, News & Resources

The purpose of the exemption and exclusion amounts is to protect taxpayers against the burden of federal estate and gift taxes, each currently at a flat rate of 40%. By taking advantage of these allowances, you can strategically plan your estate to minimize tax liabilities and maximize the preservation of your assets for future generations. In 2024, the annual gift tax exclusion rises to $18,000 per recipient per year. This means you can gift up to $18,000 to any number […]

CONGRESS’ CORPORATE TRANSPARENCY ACT REQUIRES CERTAIN BUSINESS OWNERS TO REPORT PERSONAL INFORMATION OR FACE CIVIL AND/OR CRIMINAL PENALTIES

1/22/2024 | Articles & Alerts, General, News & Resources

The Corporate Transparency Act (the “Act”), which Congress enacted on January 1, 2021, and made effective as of January 1, 2024, establishes a beneficial ownership information reporting requirement as part of the Federal government’s efforts to enhance transparency in corporate ownership and prevent the utilization of shell entities or other ownership structures to facilitate money laundering, terrorism financing, and other unlawful activities.  Unless your entity qualifies as one of the twenty-three types of entities exempt from the Act’s reporting requirements, […]


Related Practices: Real Estate Transactional, Business and Corporate Law

2024 Best Law Firms® Independent Rankings Highlight Top Firms in the Industry Today and Key Trends Driving Successful Firms Toward the Future

11/6/2023 | Articles & Alerts

Kaplin Stewart is passionate about serving our clients, so we are honored to announce our inclusion on the 2024 Best Lawyers “Best Law Firms®” list. Kaplin Stewart has been recognized for professional excellence ratings from clients and peers nationally in 3 practice areas and 7 metropolitan-based practice areas across the firm. According to Best Lawyers, achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise. Firms included in the 2024 “Best Law Firms®” […]

New Jersey Lawmakers Establish Employment Protections for Certain Service Employees During Changes of Certain Service Employees During Changes of Ownership

11/1/2023 | Articles & Alerts

On July 24, 2023, New Jersey Governor Phil Murphy signed into law a bill governing the retention of certain service employees and supplementing Title 34 of the State’s Revised Statutes. Most importantly, the legislation, known as the “Service Worker Retention Law” (A-4682/S-2389), imposes affirmative duties on buyers and sellers of various types of real estate who are parties to qualifying contracts entered into or renewed on or after October 22, 2023. While also applicable to other situations, as it relates to […]


Related Practices: Business and Corporate Law