Summer Newsletter 2017


Musings from the CEO, Summer 2017

There are traditionally three phases of estate planning. I refer to these phases as Core, Legacy and Stewardship.

IRS-2017-92: Work Opportunity Tax Credit (WOTC)

The IRS recently highlighted a reminder that a tax credit is available for those who hire long term unemployed workers. There are 10 categories of qualified hires, including if the employee has been unemployed for 27 weeks and has taken unemployment for a portion of that time. Businesses should remember to take advantage of the credit when looking to hire qualified workers.

What Assets Pass Under My Will?

The foundation of most Georgia estate plans is a Will. Your Will is the legal document that dictates how your probate assets are distributed upon your death. But what are your probate assets? The easiest way to answer this question is to first define non-probate assets.

IRS-2017-93: Startups Can Choose New Option for Claiming Research Credit

A new option for small companies (less than $5 million in receipts) exists to apply up to $250k of research credit against payroll tax liabilities rather than income tax liability. For start ups the new option offers an opportunity to take credits that would otherwise be deferred if the company did not have taxable income to offset the credits.
Another Reason to Have a Valid General Power of Attorney (GPOA)

Most married couples file their tax returns as Married Filing Jointly (MFJ) which is generally tax advantageous when compared to the other alternative which is Married Filing Separately (MFS).  It needs to be noted though, that filing jointly is an annual election by both spouses and cannot be used if one spouse does not agree to sign (a frequent issue during divorce proceedings).

Did You Know?

Hoffman & Associates offers flat fee pricing for basic estate planning and L.L.C. formation to new clients and family members of existing clients?  For more information regarding this program please contact us at 404-255-7400 or
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