>>Welcome!

Dear Friends,

This firm is committed to providing quality service to its clients. This E-Newsletter is one means of providing that quality service.

We hope you enjoy this issue, with information on “Dirty Dozen” tax scams, estate planning, recent tax law changes, buy-sell agreements, life insurance beneficiary designation, and other interesting news.

We feel all our clients and acquaintances could benefit from this information. Feel free to pass this E-Newsletter along to others.  If you received this E-Newsletter from a friend and would like to subscribe, please visit www.WHC-Law.com and enter your email address in the subscription space provided.

Please let me know if there is an area of interest that you want covered in future newsletters.

Sincerely,

Bill Copperthwaite

Feedback and suggestions? Please e-mail me:
whc@whc-law.com

>>Staff Update

We are pleased to announce that Josh Daymean has joined us as a Law Clerk.  Josh graduated in 2007 from Montclair State University with a Bachelor of Arts in Economics and is attending the JD/MBA program at the Widener School of Law.  Josh can be reached by phone at (610) 429-8127 or by email at JD@WHC-Law.com.  Let us all welcome Josh!

>>Firm News

September 2008
William H. Copperthwaite Jr., Esquire served as a Presenter in the Seminar: Estate Administration Basics conducted by the New Jersey Institute for Continuing Legal Education.

Fall 2008
William H. Copperthwaite Jr., Esquire was reappointed as Assistant Professor of Rider University College of Business

June 2008
William H. Copperthwaite Jr., Esquire was elected to a two year term as District Director of The Exchange Club

May 2008
William H. Copperthwaite Jr., Esquire served as a Presenter in the Seminar: Top 10 Estate Planning Mistakes conducted by the Mason-Dixon Broker Dealer Convention.

2008-2009
William H. Copperthwaite Jr., Esquire served re-elected as President of the Greens at Penn Oaks Homeowners Association.   www.greensatpennoaks.com

If you are interested in having William Copperthwaite speak at an event, please contact the office at (610) 429-3800 or (856) 616-1188 or by email at WHC@WHC-Law.com

>>Quote:

"Do not fear mistakes. You will know failure. Continue to reach out."
            - Benjamin Franklin

"Success is the ability to go from one failure to another with no loss of enthusiasm."
            - Sir Winston Churchill

>>10 Questions to Ask Yourself About Your Estate

The Need for Estate Planning is Alive and Well:

• At my death, will there be sufficient cash to maintain my family's standard of living, put my children through school, and keep up with inflation, after paying off debts, administrative costs, and state death taxes?  (If I haven’t checked, how can I be sure?)
• Do I personally have sufficient income and capital if I become disabled? At retirement?
• If I died today, will the assets I own pass outright to my spouse, children, and grandchildren?

(Click here to read the full article)

>>Tax Planning 2008-2009

This article highlights several potential tax-saving opportunities for you to consider for reducing your 2008 tax bill and plan ahead for 2009.

(Click here to read the full article)

>>IRS Unveils 2008 List of Notorious Tax Scams:  The "Dirty Dozen"

IRS has recently unveiled its latest list of notorious tax scams, which it calls the "Dirty Dozen", highlighted by Internet phishing scams and several frivolous tax arguments.

(Click here to read the full article)

>>The Economic Stimulus Act of 2008

In 2008, Congress passed an economic stimulus package (the Economic Stimulus Act of 2008) which was intended to jump-start our economy, in part through tax incentives aimed at encouraging businesses to increase their investments in new equipment by the end of 2008. Under the Act, small businesses will be able to write off up to $250,000 of qualifying expenses in 2008.

(Click here to read the full article)

>>Limited Liability Company Benefits

The issue in deciding on the type in business form is to have the most advantageous tax treatment and limited liability for the business owners.  The Limited Liability Company (LLC) will provide for tax pass-through treatment while shielding its owners from personal liability.

(Click here to read the full article)

>>Why a Buy-Sell Agreement?

Keep reading and you will have a better understanding of the problems inherent in closely held businesses, the inevitable conflicts that occur when no buy-sell is created, and the advantages in creating a binding arms' length bona fide agreement.

(Click here to read the full article)

>>Life Insurance Beneficiary Designation - Issues to Consider

Ownership and Beneficiary Do Not Match
In general, if you own a life insurance contract, you can name anyone you want as the beneficiary of your contract, while still keeping the death proceeds income tax free. If a third party such as a spouse, adult child, business, or trust owns the policy on your life, the third party must name herself, himself, (or itself) the beneficiary of the policy.  If there is a mismatch, it creates tax trouble.

(Click here to read the full article)

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