News & Info

In a recent announcement from IRS, Commissioner Chuck Rettig stated that the pandemic continues to create challenges for the agency. Pandemic...

With the new year comes some changes to tax rules. First, the annual gift tax exclusion – the amount you can gift to any one person without...

The COVID-19 pandemic has undoubtedly impacted the entire world in a multitude of ways. One of the major impacts I have seen with my clients...

Marjorie Jones trusted the man who called to tell her she’d won a sweepstakes prize, saying she could collect the winnings once she paid the...

It’s an unfortunate reality that with the increasing number of natural disasters across the country, including fires, floods, and hurricanes,...

During the holiday season, it’s common for adult family members to notice that their older adult loved ones may need care and assistance....

In early November, Hook Law Center hosted a webinar on year-end tax planning for individuals and estates. During the webinar, we discussed...

The Social Security Administration has increased the cost of living adjustment to 5.9% for 2022 payments, which is one of the highest COLA...

The holidays present an opportunity for loved ones near and far to gather together for celebration and reminiscing. However, it is important...

The most recent Consumer Price Index inflation report showed that prices rose by quite a bit in October. Overall, prices climbed 6.2% year-over-year,...

Guardianship is the legal process to determine if a person is “incapacitated.” The court decides if, due to a physical or mental condition,...

Under Virginia law, a person under a disability includes persons confined due to a felony conviction, persons under the age of 18, and incapacitated...

The tax gap, as defined by the IRS, is the difference between the amount of tax owed by taxpayers for a given year and the amount that is...

Many of our clients have minor children in their families, whether they are children, grandchildren, or other relatives. If you want to make...

As the month of August came to an end, I prepared to send my oldest child to college.  This entailed not only shopping for twin XL sheets...

An important part of lifetime planning is the power of attorney. A power of attorney gives one or more persons the power to act on the principal’s...

When taxpayers fail to comply with noncash charitable contribution reporting requirements.. If you itemize your deductions on your tax return,...

Earlier this year we reported President Biden’s tax plan which included items such as raising the corporate tax rate, raising the highest...

If you are the agent under a power of attorney for a parent or loved one, you may often sign documents on their behalf. However, it is important...

Many of our clients have heard of the “five-year lookback” but few understand what it actually means. In essence, since Medicaid is a payer...