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Top hobermanlesser.com News

Is college financial aid taxable? A crash course for families | Hoberman & Lesser
United States · United States

Is college financial aid taxable? A crash course for families | Hoberman & Lesser

College can be expensive. According to the College Board, the average sticker price for tuition and fees at private colleges was $43,350 for the 2024–2025 school year. The average cost for tuition and fees for out-of-state students at public colleges was $30,780. For in-state students, the cost was $11,610. Of course, there are additional costsRead Article

Sec. 6166: Help For Family Businesses with Estate Tax Bills | Hoberman & Lesser

Even though the current gift and estate tax exemption amounts are high, some families with wealth tied up in a closely held business could be forced to sell assets to meet tax obligations. However, Internal Revenue Code Section 6166 can provide relief. Let's take a look. Avoid Selling Assets An election to defer estate taxes under Sec.United States · United StatesRead Article

Hiring independent contractors? Make sure you’re doing it right | Hoberman & Lesser

Many businesses turn to independent contractors to help manage costs, especially during times of staffing shortages and inflation. If you’re among them, ensuring these workers are properly classified for federal tax purposes is crucial. Misclassifying employees as independent contractors can result in expensive consequences if the IRS steps in and reclassifies them. It could leadUnited States · United StatesRead Article

After a person dies, his or her debts live on | Hoberman & Lesser

One question the family of a deceased person often asks is: What happens to debt after a person dies? It’s important to realize that a person’s debt doesn’t simply vanish after his or her death. An estate’s executor or beneficiaries generally aren’t personally liable for any debt. The estate itself is liable for the deceased’sUnited States · United StatesRead Article

The tax rules for legal awards and settlements: What recipients should know | Hoberman & Lesser

If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money. Will you need to pay taxes on it? The short answer: It depends on the type of damages you received. Understanding the basic rules can help you avoid surprises. TaxableUnited States · United StatesRead Article

Growing Cyberthreats to the Internet of Things

100% Center coverage: 1 sources
Proactive cybersecurity is needed to address growing vulnerabilities in the connectivity of both the digital and physical ecosystems constituting the Internet of Things.InternetSee the Story

Still have tax questions? You’re not alone | Hoberman & Lesser

Even after your 2024 federal return is submitted, a few nagging questions often remain. Below are quick answers to five of the most common questions we hear each spring. 1.When will my refund show up? Use the IRS’s “Where’s My Refund?” tracker at IRS.gov. Have these three details ready: Social Security number, Filing status, and ExactUnited States · United StatesRead Article

Why choosing the right trustee matters | Hoberman & Lesser

It’s not uncommon for an estate plan to contain multiple trusts. They can enable you to hold assets for and transfer them to beneficiaries, avoid probate, and possibly reduce estate tax exposure. When drafting a trust, you must appoint a trustee. This can be an individual or a financial institution. Before choosing a trustee, knowRead Article

Factor in GST tax when transferring assets to your grandchildren | Hoberman & Lesser

If you’re considering making asset transfers to your grandchildren or great grandchildren, be sure your estate plan addresses the federal generation-skipping transfer (GST) tax. This tax ensures that large estates can’t bypass a round of taxation that would normally apply if assets were transferred from parent to child, and then from child to grandchild. BecauseTaxes · United StatesRead Article

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