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Category Archives: Taxes and Bankruptcy


Discharging Tax Debt in Bankruptcy

By Kelley, Fulton & Kaplan |

There’s a common misconception that tax debt is never eligible for discharge through bankruptcy. While there are specific elements that must met in order to discharge tax debt, it’s not an impossibility. First and foremost, in order to qualify for the discharge of tax debt, the debtor must meet the following conditions: The debtor… Read More »

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Estate and gift tax limits set to rise again in 2016

By Kelley, Fulton & Kaplan |

Inflation has triggered substantial increases in the federal estate and gift tax limit since the early 2000s. Once again the limit is projected to experience another hike in 2016. Since 2001, the estate tax limit has risen from $675,000 to $5.43 million, an astounding increment that has made avoiding taxes that much easier for… Read More »

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Newly signed ABLE Act aims to better financially assist those with disabilities

By Kelley, Fulton & Kaplan |

Governor Rick Scott’s recent signing of the ABLE Act is certainly a step in the right direction. This new act states that a disabled individual, along with his family and friends, can deposit up to $100,000 in a tax-exempt account to be used towards future needs. Though a monumental step up from the previous… Read More »

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