Author Profile
Steven M. Saraisky
Phone: 201-525-6259
United States
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About
Steven Saraisky concentrates his practice in estate planning, tax planning, business succession planning, and corporate transactions.
Mr. Saraisky has lectured in the areas of estate planning and business succession planning, including such topics as family limited partnerships, limited liability companies and charitable trusts.
Education
Bar and Court Admissions
Recent Articles
IRS Announces Third Offshore Voluntary Disclosure Program
The IRS announced a third voluntary disclosure program for offshore accounts recently. The IRS has conducted two prior voluntary disclosure programs – one in 2009 and one in 2011. According to the IRS, it had 33,000 disclosures from the 2009 and 2011 programs. The Service...
IRS Announces Third Offshore Voluntary Disclosure Program
The IRS announced a third voluntary disclosure program for offshore accounts recently. The IRS has conducted two prior voluntary disclosure programs – one in 2009 and one in 2011. According to the IRS, it had 33,000 disclosures from the 2009 and 2011 programs. The Service...
NJ Tax Court Finds Gift in Contemplation of Death Subject to Inheritance Tax
After meeting with a lawyer who advised him about divesting himself of assets so that he one day would be able to qualify for Medicaid, Peter Muscle, age 88, made a gift to his girlfriend of PSE&G stock having a value just over $1 million. He died six months later. As most...
Year-End Planning - Individuals 70 ½ or Older Should Consider Charitable Gifts from IRAs
The Internal Revenue Code currently provides a tax break for individuals age 70 ½ or over to make distributions of up to $100,000 from an IRA to a charity and exclude the distributions from taxable income. This generally results in tax savings compared to either (1) the taxpayer making...
Termination of Life Insurance Policy with Loans in Excess of Basis Triggers Gain
Sometimes a client owns life insurance and borrows against the policy in order to pay premiums. After many years of this, it is not unusual for the loans against the policy to exceed the owner’s basis in the policy. If the policy is then terminated (ie, the client surrenders the...