Attorney At Law

Year-End Tax Tips

2011-12-21T11:13:00.000-08:00

1. Make Charitable Contributions

2. Install Energy-Efficient Home Improvements Installing energy efficient improvements such as insulation, new windows and water heaters to your main home can provide up to $500 in tax savings.

3. Consider a Portfolio Adjustment – Check your investments for gains and losses and consider sales by Dec. 31. You may normally deduct capital losses up to the amount of capital gains, plus $3,000 from other income. If your net capital losses are more than $3,000, the excess can be carried forward and deducted in future years.

4. Contribute the Maximum to Retirement Accounts- You have until April 17, 2012, to set up a new IRA or add money to an existing IRA and still have it count for 2011. You normally can contribute up to $5,000 to a traditional or Roth IRA, and up to $6,000 if age 50 or over.

6. Don't Overlook the Small Business Health Care Tax Credit – If you are a small employer who pays at least half of your employee health insurance premiums, you may qualify for a tax credit

New Estate Tax Changes

2009-05-20T09:43:00.000-07:00

Due to the struggling economy, lawmakers in Washington, D.C. have proposed changes to the estate tax laws. The proposal outlines that in 2011,anything over 1 million dollars is now taxed 55%, in accordance with pre-2001 numbers. For the 2010 tax year, the estate and generation skipping transfer taxes are repealed. In the same year, the gift tax rate will fall to 35%.

New York's New Power of Attorney Law

2009-05-20T09:32:00.001-07:00

New York State has passed a new power of attorney law that greatly alters the old one. Only one form is now needed, with a second form required for Major Gifting called a Statutory Major Gift Rider (SMGR).

The term "attorney-in-fact" has also now been replaced by "agent" because specific fiduciary responsibilities have been outlined which require the agent to act in the best interests of the principal.

The law also dictates that this new form is "durable" thus meaning that it is not effected by future incapacity. This new law is meant to simplify the power of attorney process, and will hopefully serve to do so.

A Look at the Law Offices of Joseph A. Marra

2009-05-15T08:29:00.000-07:00

About Us

2007-05-18T07:10:00.000-07:00

Protecting Your Rights For Over 25 Years

We:
- Offer all clients a FREE 15-minute initial consultation in person or over the phone.
- Provide competent, professional, legal representation. We will be effective and experienced legal advocates.
- Provide high-quality legal services at a reasonable fee. If you are injured, there is no fee unless we are successful.*
- Address your legal matter in a timely manner.
- Come to you if you are unable to come to us.
- Listen and are attentive to your particular legal needs.
- Always deal with you in a respectful and courteous manner.

*The client will remain liable for any costs, disbursements and other expenses incurred, regardless of the outcome of the matter.

Areas Of Practice

2007-05-18T07:01:00.000-07:00

- Civil & Criminal State & Federal Trial Practice
- Divorce, Matrimonial & Family Law
- Elder Law
- Estate Planning
- Landlord & Tenant Disputes
- Medicaid Applications Prepared & Filed
- Medicaid Planning
- Name Changes
- Negotiation & Drafting of Contracts
- Nursing Home Negligence
- Personal Injury Law
- Probate & Administration
- Residential & Commercial Real Estate Transactions
- Small Business Representation
- Tax Advice on Estate & Corporate Matters
- Wills, Trusts & Estates

Locations/Contact Information

2007-05-18T06:57:00.000-07:00

Address: 909 Midland Avenue Yonkers, NY 10704

Phone Number: (914) 964-6806
Fax: (914) 964-0137
-Or-

Address: 147 East 233rd Street Bronx, NY 10470

Phone Number: (888) 381-7856

Fax: (718) 324-2614

E-Mail: jamarra@marralaw.com

Website Links

2007-05-18T06:54:00.000-07:00

Home Page: http://marralaw.com/index.html

Direct Contact: http://marralaw.com/contact.htm