As part of my mission to find the best, most informed clients, I will be hosting a seminar in Hollis, Oklahoma, at the community center, on October 30, 2012. There will be an afternoon seminar and an evening seminar, too. Both will focus on basics of estate planning and will look to spread knowledge on why you shouldn’t Tadalista is indeed the best medicine that helps you to best price for sildenafil last longer during the sexual activity. Shatavari: Shatavari has viagra pills in canada always been used as a key ingredient in the Kamagra tablets. This medicine can help http://twomeyautoworks.com/?attachment_id=265 ordine cialis on line you perform well on bed. They brought gel and soft tablet version in the market. http://twomeyautoworks.com/?author=3 order generic viagra delay in putting your legacy in place, whether through a will, joint tenancy or a revocable, living trust.

Call and RSVP if you would like to come to learn more about legacy and estate planning from the only specialized tax attorney in southwestern Oklahoma. I would love for there to be a couple of large crowds.

I was looking back through my files and this last week was the one year anniversary of when I moved back to Altus, so I thought this was a good time to re-post about who I am, what my qualifications are, and why I chose to move my practice back to Altus and southwestern Oklahoma.

My name is Brent S. Howard. I am the youngest son of Bob & Renee Howard. I grew up working with my parents on a wheat and cattle operation east of the Navajo School. I attended the same school for grades K-12 and participated in basketball, track, 4-H, TSA, FFA, student council, and academic teams. I graduated as valedictorian of my class and chose Oklahoma State University to pursue higher education.

While at OSU, I attained dual majors in Agricultural Economics and Accounting. I graduated cum laude and was honored as a top ten senior male for the whole university, as well as various distinctions within the Agricultural College. I then attended Oklahoma’s other main university, OU, for law school. During my time there I helped establish the Volunteer Income Tax Assistance program and was highly involved with the tax professors for class and research. During my last year at law school, I was notified of a scholarship with New York University (NYU) where I could highly refine my tax knowledge.
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NYU is regarded as the premier school for learning complicated and high value tax scenarios and the most esteemed tax attorneys usually have the same LL.M. degree from there that I attained. The only problem I had with the high value tax cases in New York City, was New York City, itself. I longed to be back home near the farm and the good people of Oklahoma. After one year in NYC, I found a job in Oklahoma City. I continued to work in the estate and tax planning area for clients in OKC.

In mid-2011, I finally decided that OKC still was not close enough to where my heart and family really were, so I made the move back to the Friendship area. I remodeled the home my father grew up in and now split my time in my office and on the farm. This is just a short summary, but it can give you the idea of why I am the only specialized tax attorney in southwestern Oklahoma. Here is where my roots are and I hope that I can share my knowledge with the people that I came back to be near.

With today being Tuesday, October 2, we are exactly 13 weeks away from January 1, 2013. As detailed in previous articles here (and countless others on the internet), on January 1, 2013 there will be the most significant tax changes resulting from changes within the tax code (rather than complete overhauls).

These will be increases in the Payroll Tax (FICA) of 2% on all earned wages; increases in the marginal income tax rates; increases in the capital gain rate (from maximum 15% to 20%); increases on taxation of qualified dividends (from max 15% to up to 39.6%); decreases in the amount deductible for new business purchases, decreased in exemptions for wealth transfers (gift and estate taxes); increases in the wealth transfer tax rates (from max 35% to up to 55%); and others.

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As always, I offer a free consultation to review your estate and business planning. I serve all of southwestern Oklahoma and office out of Altus. Call me at 580-318-8829 to set up an appointment.

Legislation was passed by the House of Representatives this past week that allows anyone who believes he/she is not paying his/her fair share in taxes to voluntarily contribute more in tax revenue to the Department of the Treasury. There has been a law similar to this in the Internal Revenue Code for a long time, but the common name of this bill is “the Buffett Rule Act of 2012″ after Warren Buffett, the President’s ultrawealthy proponent for higher taxes.

Although this new law passed by majority in the House, it is unlikely to be brought for a vote in the Senate, and even if passed there, would not be signed by the President. This law has been pure politics by the House, but, understandably, was used to combat the politics of the ultrawealthy who want to increase tax burdens for everyone, when only a select few say they can afford more in taxes.
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My belief in all of this is that taxes are always going to be an issue. You, as a taxpayer in southwestern Oklahoma, or anywhere in the United States, are not required to pay any more than the law requires. The use of allowable deductions, special rates, and exemptions is perfectly valid. If the “loopholes” are viewed by Congress as not as intended, then Congress needs to change the law rather than pander to the loudest complainers.

TaxProf Blog has a link to a book that seems to show that redistributive policies destroy jobs. The link at Tax Prof Blog goes to the New York Times and is for Casey B. Mulligan’s new book The Redistribution Recession.

A graph from the book is below. It shows that as the social safety net has become more generous during the past two presidential administrations, the hours worked by various income earners has decreased. Some of the loss of hours came from the recession, but the book seems to point that as the amount you get to keep for yourself (rather than paying in taxes) the less incentive there is to continue to work more hours.

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Work hours change from 2007 - 2010

I will look forward to reading this book and recommend it to my readers who want to see how tax policy will affect their lives. The various policies implemented in Washington not only directly affect take home pay, but will also affect an estate plan through the wealth transfer taxes (estate and gift taxation).