The federal government has an estate tax that applies to estates that are worth a significant amount. New Jersey used to have an estate tax but it was phased out. In 2017 the exemption from the New Jersey estate tax…
Author: markelderlaw
IRS Increases Annual Exclusion for Gifts
If you provide too much money as a gift to someone during a year then you may have to file a gift tax return with the IRS. The gift tax return is known as Form 709. If the total gifts…
Income Cap Changes for Medicaid
In order to qualify for Medicaid assistance, an individual’s gross monthly income must be less than the Medicaid income cap. If a person’s gross monthly income is greater than the Medicaid income cap then he or she will not qualify…
Medicare Co-payment Has Increased for Nursing Home Residents
If a person requires skilled care pursuant to the federal Medicare statute and is in a nursing home facility, then Medicare will pay a portion of that care in the facility. Medicare will pay for the first 20 days of…
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Increase in Medicare Part B Premium
Medicare has Parts A and B. Part A is often referred to as the hospital portion of Medicare coverage. Part B is usually referred to as the doctor’s portion of the Medicare program. Part B provides coverage for physician services,…
Law Office of Donald B. Mark 