Categories for Tax Planning

Stay Calm And Mindful: Avoid These Top Seven SCAMs

August 13, 2020 3:57 pm Published by Nina T. Dow

In these pandemic times, scammers are stepping up their game, taking advantage of COVID-19 anxiety and confinement. Older adults were their first targets. Now scammers are bolder, infiltrating the phone calls, emails, and snail mail of almost everyone. Ask around. Chances are someone you know has either been the victim of a scam or an attempt. What are these imposters trying to snag? Your personal identifying information. It might be a credit card or bank account number they’re after, or perhaps the biggest key to your ID—your Social Security number.

To help you avoid identity theft, learn to recognize these top seven scams of the past six months:

1. COVID-19 and the Imposter Unemployment Claim

With unemployment ...

7 Resolutions to Get Your Legal House in Order for a Great 2020

January 17, 2020 12:10 pm Published by Mountain, Dearborn & Whiting LLP

Welcome to a brand-new decade! It’s halfway through January, and we hope you’ve already made progress on your life-changing resolutions for the coming year. Here are a few recommendations from our colleagues at Mountain, Dearborn & Whiting for law-related resolutions that you can add to your list—now, or anytime this year:

1. Katherine Bagdis, Partner, Litigation and Family Law: If you “popped the question” over the holidays, now is a good time to consider whether you and your soon-to-be spouse should execute a prenuptial agreement prior to the wedding.

2. Robin DeAugustinis, Partner, Commercial Lending and Real Estate Law: If you haven’t already done so, please execute and record a Declaration of Homestead ...

My Big Fat Message About Holiday Gifts

December 16, 2019 6:38 pm Published by Nina T. Dow

Have you completed your holiday shopping? For some people, the shopping season starts in August; others (including me) still have a few more days before the deadline. Choosing the right gift can be tricky—a book? a Roomba? a gift card (the easy way out)? Or how about a real surprise, as in the 2002 romcom My Big Fat Greek Wedding? In the film, Nia Vardalos, as Fotoula Portokalos, and her fiancé receive her parents’ wedding gift in advance of the holidays—a new home!

I’ll save the gift and estate tax issues that result from such a present for another blog post. Here, let’s take a closer looks at a different type of end-of-year gifting that people ...

Nina T. Dow Recognized by Super Lawyers

October 18, 2019 8:00 am Published by Mountain, Dearborn & Whiting LLP

Attorney Nina T. Dow of Mountain, Dearborn & Whiting is among the Massachusetts Super Lawyers and Rising Stars for 2019. Specializing in estate and tax planning, she joined the firm in 2018.

An associate who works closely with Attorney Ann K. Molloy, Nina enjoys the challenge of helping clients reach their unique estate planning objectives in a tax-efficient manner. She also advises clients on charitable giving, special needs trusts, Medicaid planning, trust and estate administration, and the preparation of estate and fiduciary income tax returns. She is a regular contributor to Mountain Dearborn’s Side Bar Blog.

Nina holds a J.D. from Suffolk University School of ...

Can You Still Get a Charitable Deduction Under the New Tax Law? It Depends

December 17, 2018 3:57 pm Published by Nina T. Dow

There are many good reasons to give gifts and make charitable donations. Supporting a cause you care about tops the list. Research studies suggest that a habit of charitable giving may make you happier; any tax benefits are merely icing on the cake. Nonetheless, a December 31 deadline for tax purposes has trained many of us to focus on charitable donations at this time of year.

Given our ingrained habit of year-end giving, you may wonder how the 2017 Tax Cuts and Jobs Act impacts charitable giving. The good news is that charitable deductions can still be taken on your income tax return, depending on how much you give, in what form, and whether your itemized deductions ...

Attorney Nina T. Dow Joins Mountain Dearborn

February 16, 2018 3:44 pm Published by Katherine A. Bagdis

Mountain, Dearborn & Whiting LLP is pleased to announce that Attorney Nina T. Dow has become associated with the law firm.

Nina earned her J.D. at Suffolk University Law School and an LL.M. in Taxation from Boston University School of Law. She earned her undergraduate degree from Emerson College. Prior to joining the firm, Nina was a solo practitioner. She is admitted to practice in Massachusetts and New Hampshire.

Nina’s practice will concentrate in estate and gift tax planning, the drafting of wills and trusts, probate and trust administration, and the preparation of federal and Massachusetts estate and fiduciary income tax returns. She may be reached at 508-756-2423 (office); 508-453-6276 (direct); or ndow@mountaindearborn.com. ...

I Won the Lottery! Now What?

February 28, 2017 5:32 pm Published by Katherine A. Bagdis

It’s 11:00 p.m., and you’re watching the drawing for Powerball or Mega Millions. Or maybe it’s Friday night after work, and you’re scraping your weekly scratch ticket. You stare at the numbers in stunned disbelief, then in amazement. You’ve just won the grand prize!

After checking and rechecking the numbers, finally convincing yourself that you have, in fact, won, and calling family and friends who all promise to keep your big secret, you begin planning all the ways to spend your windfall: your dream vacation to Bali . . . that lakeside home in Vermont . . . the all-frills new car. You’ll update your wardrobe and install a custom walk-in closet to hold it all. You’ll buy season ...

Deadline for 2017 Real Estate Tax Abatement Applications Is February 1

January 25, 2017 10:28 am Published by Patricia Finnegan Gates

Property owners: Don’t miss the filing deadline for your real estate Tax Abatement Application. If you believe that your real estate valuation and tax bills are too high, you must file an Abatement Application with your city or town on or before the last day for payment of the first installment of the tax bill due as shown on the “Actual” (as opposed to the “Preliminary”) tax bill.

For Worcester properties, the Fiscal Year 2017 Actual tax bills were mailed on January 1, 2017, and the payment is due February 1, 2017. You must file your Abatement Application on or before Wednesday, February 1. You must pay your real estate taxes on time to be ...

How to Make the Most of Your Charitable Giving This December

December 19, 2016 4:50 pm Published by Ann K. Molloy

With the end of the calendar year fast approaching, now is the time to make smart decisions about your charitable donations. Here are two ways to help your favorite charity while reducing your taxes:

Make a Qualified Charitable Distribution from Your IRA

If you are 70 ½ years or older, your IRA custodian or trustee can distribute up to $100,000 from your traditional or Roth IRA to the charity or charities of your choice. The funds you’re contributing cannot touch your hands—they must move directly from the IRA custodian or trustee to the charity. And the charity must be a public charity (i.e., a charity described in IRC §170(b)(1)(A)). A private foundation or a donor-advised fund won’t ...