Lewis Law Office, P.A.

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M. Kay Lewis, Esq.
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Office address for mail and courier:  475 NE 50th Terrace, Miami, FL 33137     Phone: (305) 757-9255 | KayLewisEsq@LewisLawOfficePA.com       

Friday, January 10, 2014

The 2014 tax year has arrived!
As January arrived, the Internal Revenue Service was busy releasing new tax rates for income as well as deductions. While the standard mileage rate for business miles decreased from $0.565 to $0.56, many taxpayers are much more concerned with how they will plan their investments in light of the Net Investment Income tax which is to be levied in addition to other taxes already assessed. The Final regulations for NII can be found under IRC §1411. For tax preparers the "NII" tax regulations have added another set of computations which will need to be made and maintained on a year to year basis. The Internal Revenue Service has published its anticapted date for the beginning of the filing of tax year 2013 electronic income tax returns as January 31, 2014. Fortunately for tax preparers, Congress adjourned timely and we did not have a delay in setting the tax laws to be set forth on the forms for filing 2013 tax returns!
4:16 pm est 

Monday, November 19, 2012

2013 - A Year of Uncertainty Looms ahead in Estate and Tax Planning
With the 2012 election now behind us, the future of the economy and legal environment remains more uncertain than ever before. If you are planning on making use of the current tax rates, you have only 6 weeks to take advantage of the 2012 available deductions, credits and exclusions. It may never be more important than ever to discuss your estate and gift planning tax issues with your legal and tax advisor than it is right now! The Estate and Gift tax rules will change dramatically with the arrival of January 1, 2013. The capital gains taxes have an uncertain future. And the national economy has a dim outlook. Taxes will be necessarily raised dramatically in the future to pay for today's expenditures and yesterday's national debt load. Take time now to look at your tax plan and your estate planning documents. And take action now to protect your assets and your future!
7:58 pm est 

Wednesday, June 15, 2011

Proper Planning reduces taxes and fees

A Last Will and Testament and a Revocable Living Trust are the cornerstones of estate and tax planning for individuals living in Florida. With assets of cash, real estate, investments and business interests, the use of a revocable living trust agreement can help coordinate an estate plan to take care of the individual during their life even if they become disabled or incompetent to handle their own affairs. A revocable living trust provides the ability to plan for needs and desires using the individual's assets, and it allows them to appoint whomever they wish to assist and handle legal and financial matters for them. One of the best advantages of using the revocable living trust in Florida is that assets which are "titled" in the trust name are not subject to probate fees upon the death of the individual. That can be a tremendous savings of fees, and thus provide more assets for the beneficiaries, whether they are family, friends, or charities. However, even with the use of a trust, it is essential to have a Last Will and Testament. This provides a mechanism to appoint the executor (personal representative) of one's estate and a way to make bequests and to "roll-over" the assets to the trust to complete the distribution of one's assets in the manner they had planned. If minor children are involved, the Last Will and Testatment is crucial to appoint the guardian's of these minor children. If you are wanting to find out how you can reduce or even eliminate gift and or estate taxes, then you should consider having a tax attorney review your documents, and if necessary, draft a Last Will and Testament and a Revocable Living Trust for you. And consider... no one knows when they will be called home, but until then we go by the grace of God.

2:15 pm edt 

2014.01.01 | 2012.11.01 | 2011.06.01

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Monday - Friday
8:30am - 5pm

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Lewis Law Office, P.A. was founded in 1998 to provide dedicated counsel and highly personal service to individuals and businesses. Having practiced law over 25 years, Mrs. Lewis strives to provide the highest quality of legal service with consideration of the client’s desire to take care of their current and and future needs and their planning objectives. Kay Lewis has frequently lectured on topics including, Estate Planning, Federal and State Taxation, Corporations, and Estates, Wills and Trusts. Also practicing tax preparation and accounting since February 1976, Kay Lewis became a Certified Public Accountant (CPA) in 1990 in Mississippi and in 1997 in Florida. Kay Lewis began practicing law in January of 1989 with an internship as a prosecutor with the Leflore County District Attorney’s Office, Greenwood, Mississippi. Mrs. Lewis then practiced law in Jackson, Mississippi, before relocating to Southeast Florida where she has maintained her law practice since 1996.

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