Merline & Meacham, P.A.

10/26/2026

Estate planning can take on added significance when a loved one has a disability. Leaving assets directly to that person could interfere with his or her eligibility for certain means-tested government benefits. A special needs trust (SNT) allows assets to be held and managed by a trustee without being treated as the beneficiary’s countable resources for certain government benefits purposes. An SNT’s assets can pay for virtually anything government benefits don’t cover. The trust must not pay money directly to the beneficiary. Rather, it must distribute funds — on behalf of the beneficiary — directly to the third parties providing goods and services to him or her. Contact us for more details.

https://merlineandmeacham.com/2026/10/09/if-you-have-a-loved-one-with-a-disability-consider-a-special-needs-trust/

10/24/2026

Transferring wealth to grandchildren, great-grandchildren or other beneficiaries decades younger than you can trigger the generation-skipping transfer (GST) tax, potentially adding a significant tax burden. Generally, the GST tax applies to certain transfers to a “skip person.” A skip person may be a grandchild or another family member who’s two or more generations below the person making the transfer. An unrelated individual generally is considered a skip person if he or she is more than 37½ years younger than the transferor. The GST tax rate is 40%, and for 2026, a $15 million GST tax exemption is available. Contact us to learn how to minimize your GST tax exposure.

https://merlineandmeacham.com/2026/10/09/dont-overlook-the-gst-tax-when-transferring-wealth-to-younger-generations/

10/22/2026

As year end approaches, review your 2026 digital-asset transactions and reconcile your records with statements from brokers and payment processors. Also keep in mind that Congress is considering bills that would change selected digital-asset tax rules. We can help you stay on top of any new developments. Contact us for assistance evaluating your transactions and meeting the current reporting requirements.

https://merlineandmeacham.com/2026/10/09/what-are-the-tax-implications-of-cryptocurrency-transactions/

10/19/2026

Paying dividends isn’t the only way to take cash out of your C corporation. Corporate distributions are generally taxable to you to the extent of your company’s “earnings and profits,” and your company can’t deduct them.

To avoid dividend treatment, consider having your business repay bona fide loans you’ve made to it or taking out properly structured loans from it. You might also increase your compensation (as long as it’s still “reasonable”) or qualifying tax-free fringe benefits — or lease or sell assets to your business.

Before proceeding, evaluate the tax implications for you and your corporation. Contact us to review the applicable rules and determine what’s right for your situation.

https://merlineandmeacham.com/2026/10/09/5-tax-smart-ways-to-take-cash-out-of-your-c-corporation/

10/17/2026

The laws governing the ex*****on of a valid will vary by state, but they generally require certain formalities. If a will isn’t properly executed, a court could later determine that all or part of it is invalid. But what happens if your will has been executed and you later need to make a change? For minor changes, a codicil — a separate legal document that amends specific provisions of an existing will — may be the answer. For more extensive changes, creating and properly executing a new will may be preferable. This can reduce confusion by putting your current wishes in one document rather than requiring your executor and beneficiaries to reconcile multiple amendments.

https://merlineandmeacham.com/2026/10/09/when-your-will-needs-an-update-follow-the-formalities/

10/14/2026

At Merline & Meacham, P.A., we believe that taking a moment to celebrate the small things is what keeps our team connected. Today is National Dessert Day and our team got the absolute sweetest surprise when our Marketing Coordinator surprised the entire office with an incredible selection of delicious desserts to celebrate the day!

We are so grateful for all the treats that brightened up our day with an extra dose of sweetness and joy!

10/14/2026

10/12/2026

As you review your business’s 2026 expenditures, pay close attention to work performed on buildings and equipment.

You can generally deduct ordinary repairs and maintenance expenses, but you must capitalize property improvements, including betterments, restorations and adaptations. Safe harbors may allow current deductions for some costs. Certain capitalized improvements may also qualify for a full first-year deduction through bonus depreciation or Sec. 179. Proper classification may affect recordkeeping, potential recapture and state tax deductions.

Contact us to help classify your 2026 expenditures and discuss potential tax-planning moves before year end.

https://merlineandmeacham.com/2026/10/09/repair-or-improvement-does-the-distinction-matter-under-current-tax-law/

10/10/2026

To the business owners, founders, and entrepreneurs: we see how much you carry.

Running a business requires wearing a dozen different hats. Between managing growth, navigating complex tax laws, and handling legal compliance, owner burnout is a very real risk to your mental health.

You don't have to navigate the legal and financial complexities along. Delegating your corporate governance and tax planning to trusted professionals isn't just a smart business move - it's essential for your mental well-being.

This World Mental Health Day, give yourself permission to hand off the heavy lifting to us. Contact Merline & Meacham, P.A. for your business law and tax law issues.

10/09/2026

We are proud to share that Merline & Meacham, P.A. attorney Phillip Martin was a featured speaker at Old Republic Title’s recent 2026 South Carolina Fall Seminar which was held at the historic The Westin Poinsett in Greenville. The event was a fantastic success and provided Phillip with a platform to present on the South Carolina probate process. During his session, titled "South Carolina Probate - What You Need to Know," he shared essential legal insights and practical guidance with the attendees breaking down how to smoothly navigate the probate process.