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March 28, 2023
by Merline & Meacham, PA
Resources, Uncategorized

Podcast: The Separate Shares Rules and Their Nuances

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March 7, 2023
by Merline & Meacham, PA
Resources, Uncategorized

Podcast: Corporate Transparency

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February 7, 2023
by Merline & Meacham, PA
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Podcast: Considerations in the Possible Liquidation of a Closely Held Entity (Part 4 of 4)

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December 22, 2022
by Merline & Meacham, PA
Resources, Uncategorized

Tips for Individuals Living Alone (Pt. 1 of 2)

This week ACTEC published the latest video in the series, Tips for Individuals Living Alone (Pt. 1 of 2), featuring ACTEC Fellows Stacy E. Singer and Margaret Van Houten. 

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December 7, 2022
by Merline & Meacham, PA
Resources, Uncategorized

Podcast: Top 10 Recommendations for Planning Retirement Benefits under the SECURE Act

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May 12, 2022
by Merline & Meacham, PA
News, Uncategorized

Merline and Meacham selected to 2022 SC Super Lawyers list

Merline & Meacham is thrilled to announce that David A. Merline, Jr. has been selected to the 2022 South Carolina Super Lawyers list for the 15th consecutive year, and Keith G. Meacham for the 10th consecutive year. Super Lawyers is a rating service of outstanding lawyers from various practice areas who have achieved a high-degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations and evaluations. Congratulations!

https://www.superlawyers.com/

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May 11, 2022
by Merline & Meacham, PA
Resources, Uncategorized

Inflation enhances the 2023 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have been in recent years.

HSA basics

An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high deductible health plan.” In addition, a participant can’t be enrolled in Medicare or have other health coverage (exceptions include dental, vision, long-term care, accident and specific disease insurance).

A high deductible health plan (HDHP) is generally a plan with an annual deductible that isn’t less than $1,000 for self-only coverage and $2,000 for family coverage. In addition, the sum of the annual deductible and other annual out-of-pocket expenses required to be paid under the plan for covered benefits (but not for premiums) can’t exceed $5,000 for self-only coverage, and $10,000 for family coverage.

Within specified dollar limits, an above-the-line tax deduction is allowed for an individual’s contribution to an HSA. This annual contribution limitation and the annual deductible and out-of-pocket expenses under the tax code are adjusted annually for inflation.

Inflation adjustments for next year 

In Revenue Procedure 2022-24, the IRS released the 2023 inflation-adjusted figures for contributions to HSAs, which are as follows:

Annual contribution limitation. For calendar year 2023, the annual contribution limitation for an individual with self-only coverage under an HDHP will be $3,850. For an individual with family coverage, the amount will be $7,750. This is up from $3,650 and $7,300, respectively, for 2022.

In addition, for both 2022 and 2023, there’s a $1,000 catch-up contribution amount for those who are age 55 and older at the end of the tax year.

High deductible health plan defined. For calendar year 2023, an HDHP will be a health plan with an annual deductible that isn’t less than $1,500 for self-only coverage or $3,000 for family coverage (these amounts are $1,400 and $2,800 for 2022). In addition, annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) won’t be able to exceed $7,500 for self-only coverage or $15,000 for family coverage (up from $7,050 and $14,100, respectively, for 2022).

Reap the rewards

There are a variety of benefits to HSAs. Contributions to the accounts are made on a pre-tax basis. The money can accumulate tax free year after year and can be withdrawn tax free to pay for a variety of medical expenses such as doctor visits, prescriptions, chiropractic care and premiums for long-term care insurance. In addition, an HSA is “portable.” It stays with an account holder if he or she changes employers or leaves the workforce. If you have questions about HSAs at your business, contact your employee benefits and tax advisors.

© 2022

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December 30, 2021
by Merline & Meacham, PA
News, Uncategorized

SC Best in Business 2021 Awards has awarded Merline & Meacham, P.A. 1st Place, as Best Tax Law Firm in South Carolina.

Merline & Meacham, P.A. is pleased to announce that Greenville Business Magazine’s inaugural SC Best in Business 2021 Awards has awarded the firm 1st Place as Best Tax Law Firm in South Carolina.  SC Best in Business 2021 Awards recognized the best companies and individuals from around the state that bring success to South Carolina’s business community.  We are honored to receive this recognition!  

http://www.mirabelsmagazinecentral.com/DigitalEdition/index.html?id=c2477c30-0dd5-4fe3-aec0-0334e4c9373e&pn=45&pv=d 

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August 30, 2021
by Merline & Meacham, PA
News, Uncategorized

Merline and Meacham, P.A. congratulates the firm attorneys who were named to the “2021 Legal Elite” by Greenville Business Magazine

Merline & Meacham, P.A. Attorneys Recognized as 2021 Legal Elite     Greenville Business Magazine, Columbia Business Monthly and Charleston Business Magazine have honored attorneys from around the state by publishing their Legal Elite section. This section highlights the top vote-getters in the Upstate, Midlands and Lowcountry in 26 categories, solely voted on by area attorneys. We are pleased to announce that David Merline, Jr. was the top vote-getter in the Upstate for Tax & Estate Law.  Other attorneys recognized by their peers in Tax & Estate Law from our firm were Douglas O’Neal, Marie Monroe, Keith Meacham, Phillip Martin, and Thomas Sinclair in the Upstate area;  Robert August and Verne McGough, in the Midlands area and J. Aaron Nelson in the Lowcountry.  

In addition, Robert August, Jonathan Colao, Phillip Martin, Verne McCough, David Merline, Jr., and Douglas O’Neal were recognized in the Upstate in the areas of Corporate Law, Mergers & Acquisitions.  In addition, Verne McGough and Robert August were recognized in the Midlands in Corporate Law, Mergers & Acquisitions and Thomas Sinclair was recognized in the Midlands in Corporate Law, Mergers & Acquisitions. Congratulations to all!

VIEW THE FULL ISSUE

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August 27, 2021
by Merline & Meacham, PA
News, Uncategorized

Attorneys on 2022 Best Lawyers® One’s to Watch list

  • Phillip J. Martin
  • Andrew D. Merline

Two of our attorneys have received a 2022 Best Lawyers®: One’s to Watch recognition including:

​​Phillip Martin for Nonprofit/Charities Law, Tax Law and Trusts and Estates;​​ and

Andrew D. Merline for Business Organizations (including LLCs and Partnerships), Closely Held Companies and Family Business Law, Corporate Law and Trusts and Estates.​Congratulations.

Phillip and Andy – We are so proud of you!

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812 East North Street, Greenville, SC 29601

Phone: 864.242.4080

Fax: 864.242.5758

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190 Knox Abbott Drive, Suite 3B, Cayce, SC 29033

Phone: 803.814.0027

Fax: 803.658.4732

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    • Our Firm
    • Practice Areas
      • Business Entities
      • Charitable Planning
      • Employee Benefits/ERISA
      • Estate and Gift Taxes
      • Estate Planning
      • Income Tax Law
      • Mergers and Acquisitions
      • Non-Profit/Tax Exempt
      • Probate/Estate Admin.
      • Tax Controversies
      • Wills and Trusts
    • Attorneys
      • Robert E. August
      • Jonathan R. Colao
      • Phillip J. Martin
      • Keith G. Meacham
      • W. Verne McGough, Jr.
      • Andrew D. Merline
      • David A. Merline, Jr.
      • Marie Monroe
      • J. Aaron Nelson, Jr.
      • Douglas B. O’Neal
      • David M. Thompson
    • Firm News
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