Happy 4th of July!
Summer Newsletter 
June 28, 2016
Summer Musings

Last July, I wrote in my column that the IRS made it known that it would issue proposed regulations as early as September (2015) which would severely restrict valuation discounts for transfers among related entities (such as transfers of limited partnership or LLC interests to other family members or trusts).  Not surprisingly, here we are in the spring of 2016 and there are no regulations.
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Changes in Overtime Pay Regulations

Small business owners may be in for a shock later this year when new Department of Labor Regulations governing overtime go into effect. On December 1, 2016, a Final Rule by the Wage and Hour Division will go into effect, causing approximately 4.2 million currently exempt workers to have a right to time and a half pay from their employers.
A Lesson Learned from the Bobbi Kristina Tragedy

We have all seen the headlines about Bobbi Kristina Brown, the daughter of the illustrious Whitney Houston, and her tragic death.  After being found unconscious in the bathtub of her Roswell, Georgia townhome, she was admitted to the hospital and placed in a medically induced coma for months before being transferred to hospice and subsequently passing away. 
In April 2016 Hoffman & Associates launched a new responsive website which is now accessible via any device including tablet or smartphone.  Please take a tour now and familiarize yourself with our new look.
Multi-State Record Keeping

As our society becomes increasingly mobile and the economy causes taxpayers to increasingly work in multiple locations, it is important to understand the impact of state income taxation when you live and work in different states.  Many retirees establish their state residency in Florida or one of the other states without state income taxes.  
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Planning 2016: Sophisticated Charitable Giving

Significant tax savings can be achieved through a properly planned program of gifts to charity. Although a contribution may be motivated by humanitarian reasons, it is nevertheless wise to take the tax considerations into account when making a contribution. Charitable giving can be divided into two general categories. First, there are donations that are made on a regular basis and involve relatively small amounts.
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Hoffman & Associates |6100 Lake Forrest Drive, Suite 300
Atlanta, GA 30328 |404-255-7400