The week of Independence Day, the U.S. Senate took on the tall order of passing President Trump’s sweeping domestic policy package—the One Big Beautiful Bill. After more than 26 hours of voting, the Senate passed the bill, which was then sent to the House of Representatives for final passage. On July 4, President Trump signed it into law.
When Republicans finally took control of the Alabama Legislature in 2010, they put a conservative stamp on Alabama’s legislative process and lawmaking. They have made sure that Alabamians, and for that matter the rest of the country, know that Alabama is a ruby red Republican state, both socially and fiscally.
Question: My mother just recently passed away, my father having passed before her. They had a living trust set up in 2018. That made it easy for her house to go to my brother and myself. But she also had some stocks which are not mentioned in the trust. My brother and I are trying to get them from her financial advisor whose firm managed them. They are dividing them 50/50 and are creating separate brokerage accounts for my brother and me. If we decide to cash them out, what are the fees and what tax we would be facing?
Question: I am the co-trustee of my mother's revocable trust. Is it best to sell stocks held in my mother's revocable trust before or after her death?
Today, U.S. Senator Tommy Tuberville (R-AL) and U.S. Senator Roger Marshall (R-KS) introduced the Overtime Wages Tax Relief Act, which would provide much needed relief for overtime wage workers. This bill would create a tax deduction for overtime wages up to $10,000 for individuals and $20,000 for married couples—targeting middle-income Americans. The Wall Street Journal first reported on the bill’s introduction.
Question: I'm 94 years of age and own a home in Massachusetts. When I pass, will my heirs be able to take the $250,000 federal capital gains deduction that I would have been entitled to if I sold the house? Does this differ from state to state?
Question: If I place my home in an irrevocable trust with my children as beneficiaries what is the tax upon my death?
I want to share my perspective on the proposed increase in truck weight limits in Alabama, speaking as someone who works directly in the industry as a log truck driver. This issue is critical to the livelihoods of many hardworking people and to the continued success of the state’s forestry sector.
Question: What’s the Best Way to Set Up A Scholarship Fund?
The Alabama House of Representatives today passed a $192 million tax cut package. The package includes legislation aimed at reducing the cost of groceries, supporting senior citizens on fixed incomes, and cutting taxes on earned income.
