What Are The Income Tax Rates Under The New Tax Law?

Pursuant to the new federal tax law which is commonly referred to as the Tax Cuts and Jobs Act of 2017 (hereinafter “TCJA of 2017”), the individual income tax rates have changed significantly.   For tax years beginning after December 31, 2017 and before January 1, 2026, all tax rates tables have changed for individuals,… Read More »


Am I Eligible for Community Medicaid ?

OK, you have done your Google search.  You read about Community Medicaid but you don’t believe that your loved one qualifies because they have too much money in the bank, their income is too high, or both. In order to be eligible for Medicaid Home Care (Community Medicaid) services you must meet the following criteria:… Read More »

How Does the Mortgage Interest Deduction Work?

The mortgage interest deduction allows taxpayers who own their homes to reduce their taxable income by the amount of interest paid on a loan that is secured by their principal residence or secondary residence. Starting in 2018 the Mortgage Interest Deduction is limited to interest on $750,000 of what’s called “acquisition indebtedness” – a mortgage…. Read More »


Eric J. Einhart becomes Partner

Russo Law Group, P.C., a leading Estate Planning, Elder Law & Special Needs Planning law firm, is pleased to announce that Eric J. Einhart has been named its newest partner. The promotion strengthens the firm’s core practice areas of Estate Planning, Elder Law, Trust and Estate Administration, Guardianship, Real Estate and Tax Law. Eric has… Read More »

How Does the Medical Expense Deduction Work?

It is no secret that many senior citizens and individuals with disabilities are faced with significant medical costs each year, including the cost of long term care. These costs are often financially crippling for many seniors and individuals with special needs and their families. To offset the high medical expenses, many taxpayers take advantage of… Read More »

Preventing Medication Errors At Home and in the Hospital

This article is written by Annamarie Bondi-Stoddard, Esq., a guest author for the Russo Law Group P.C. blog.  Mistakes happen in every walk of life, but when they come in the form of medication errors, the consequences can be devastating. While many of us depend on our healthcare providers to protect us from medication errors,… Read More »

How Do I Transfer Guardianship From One State to Another?

A guardianship proceeding can be very expensive, very time consuming, and very emotionally and physically draining—for the person who needs a guardian and the family members as well. Why is this? Take a look at the reasons below: You have to file a petition with the court. You have to serve notice of service to family members and the… Read More »

Can a Guardian Bring a Divorce Proceeding?

As divorce, blended families, and second and third marriages become more common in our society, the questions of how these changing family dynamics will impact our aging population have become more complicated. The issue of divorce becomes especially complicated when there is an adult who is incapacitated. Under current law, a guardian under Mental Hygiene… Read More »

2018 Pension Benefit Figures

Revised January 1, 2018 Type of Benefit Maximum Annual Pension Rate (Income Limit) Monthly Maximum Annual Pension Rate (Income Limit) Service Pension $13,166 $1,097 One dependent $17,241 $1,437 Housebound $16,089 $1,341 One dependent $20,166 $1,681 Aid and Attendance $21,962 $1,830 One dependent $26,036 $2,170 Each add’l dependent child $ 2,250 +$188   2018 Pension Benefit… Read More »

How Does the New Tax Law Impact Alimony Payments?

Under the newly enacted Tax Cuts and Jobs Act (TCJA), the rule applicable to alimony payments has been flipped on its head. Alimony is the payments that someone gives to an ex-spouse who earns less money.  Alimony payments, which are typically memorialized in the terms of a divorce settlement, are different from child support. Historic… Read More »

2018 Social Security Figures

This update provides new information for 2018 Social Security taxes and benefits. This is the third of a four-part series of updates for 2018. SSI for NYS Residents: Individual Couple   $837/month $1,229/month  Maximum Earnings Taxable Social Security (OASDI) $128,400/year  Quarter of Coverage Earnings Required $1,320/quarter Social Security Disability Threshold Substantial Gainful Activity (SGA) Non-BlindBlindTrial Work… Read More »

2018 Medicaid Update

Commencing January 1, 2018, there are new Medicaid amounts reflecting Medicaid eligibility. This is the second of a four-part series of updates for 2018.  2018 Asset and Income Allowances   One Person   Two People  Income Level *including $20 unearned income disregard  $  862  $  1,253  Medicaid Resource Level  $ 15,150  $  22,200    2018 Medicaid Transfer Rates… Read More »

Theresa’s Fun Day: Bowling For a Cause!

The Theresa Foundation’s annual Theresa’s Fun Day Bowling Event is quickly approaching. Join us on Saturday, January 20, 2018 from 2:00 to 5:00 pm for an afternoon of bowling and family fun at Farmingdale Lanes (999 Conklin St. Farmingdale, NY)! Click here to register today! Registration for bowlers is just $20. If you do not bowl, but still want to participate, you may… Read More »