Leonard Legal Group, P.C.

05/14/2026

Honored to assist and guide a family through the probate process.

04/19/2026

Fresh off tax season, Americans now have a clearer idea of where their state stacks up when it comes to how much of their income actually goes to taxes — and the results may surprise some.

A new report from WalletHub ranked all 50 states by total tax burden, offering a big-picture look at what residents really pay.

Hawaii, New York and Vermont top the list as the states where residents hand over the largest share of their income to state and local taxes. Rhode Island - logs in at 10th in the nation for highest tax burden. Florida - not surprised at 47th!

Tax Burden by State in 2026

04/19/2026

Oil prices fell sharply this week, with U.S. crude dropping below $85 per barrel after the temporary reopening of the Strait of Hormuz. At one point, prices declined more than 9% in a single session as supply concerns eased and expectations shifted toward improved global flows.

04/14/2026

Thanks Goodness! Spring has finally sprung!

03/20/2026

Leaders of States and municipalities must be aware of the competitive nature and forces that tax and social policies have on its population and the ever increasing reality that policies that target higher net worth individuals will often have a negative impact and encourage those individuals to relocate to states that have policies that encourage engagement and investment and not discourage and penalize.

There is and will be a mass exodus by individuals and business that believe are being unfairly targeted and taxed and when they leave they take the dollars that they invest and reinvest in the community they reside and use those dollars in their new community - leaving a void in the area they left.

New York and its Governor is learning that lesson.

Blue states like New York pursue wealthy taxpayers fleeing to red state tax havens like Florida and Texas with governors calling for aggressive action.

03/17/2026

When a loved one passes, and they have assets in their own name that do not have a beneficiary designation or are jointly held, those assets become part of the deceased persons probate estate. Probate and the probate courts oversee the transfer of those assets from the decedent to either the heirs or beneficiaries named in a will. We have to honor of advising and guiding families through the probate courts and probate process.

03/09/2026

Senate Minority Leader Jessica de la Cruz's bill (S2710) would reduce Rhode Island's personal income tax rates by 2% every year for five years. The reduction would begin Jan. 1, 2027.

The goal is to strengthen Rhode Island’s competitiveness so that businesses invest, expand, and create jobs here. When that happens, the tax base grows – which ultimately supports state revenues.

In the event the tax cut does not spark anticipated growth, the proposal includes a built-in pause trigger. If revenues do not perform as expected, the next phase of the reduction does not take effect.

A new bill would cut income taxes for all residents over five years, emerging as a dramatic counter to the push for a millionaires tax.

03/08/2026

Under current Rhode Island law, estates are exempt from taxation up to $1.8 million. Anything above that amount is subject to estate tax. In today’s economy, that threshold is shockingly low. A modest home in many Rhode Island communities, combined with a small business, retirement savings, or life insurance, can easily exceed that amount – without the family being “wealthy” by any reasonable standard.

By contrast, the federal estate tax exemption currently stands at $15.0 million per person or $30.0 million per married couple. That gap puts Rhode Island at a serious disadvantage. Families who want to stay here, grow businesses here, and pass their livelihoods on to their children are instead encouraged to move to states with more reasonable tax policies.

The estate tax punishes hard work, savings, long-term investment and Rhode Island's ability to be competitive by taxing assets that were already taxed during a person’s lifetime. For many Rhode Islanders, this is not about yachts, mansions or private jets. It is about modest family businesses, triple-deckers, farms, and homes that have been owned for generations.

The estate tax makes it far more difficult to pass on a family business to the next generation. Families are then forced to make impossible choices: sell the business, a portion of the farm, take on debt, or lay off employees simply to pay a tax bill. That is not fair, and it is not good economic policy. Rhode Island is one of only nine states that penalizes taxpayers even after they pass away.

Eliminating the tax would provide certainty to families and businesses while keeping Rhode Island competitive in the region. The estate tax does not only affect those who pay it. When family businesses are sold or broken apart, employees lose jobs, communities lose stability, and local economies suffer.

When retirees relocate to avoid the tax, we lose not only revenue, but also civic engagement, philanthropy and institutional knowledge. Rhode Islanders work hard. They save. They invest. They build businesses not just for themselves, but also for their children and grandchildren. The legacy they leave should not come with an impossible price tag.

Doing business here is already challenging; a recent poll ranked Rhode Island dead last in states to open a business. We should not make it harder by clinging to a tax policy that discourages investment, penalizes family ownership, and drives opportunity elsewhere.

Reforming the estate tax is not about helping the wealthy – it is about protecting families, preserving local businesses, and securing Rhode Island’s economic future.

* Rhode Island is one of nine states that imposes an estate tax on assets after a person's death.
* The state's current estate tax exemption is $1.8 million, which critics argue is too low in today's economy.
* Legislation has been introduced to eliminate the estate tax, aiming to keep families and businesses from leaving the state.
* Opponents of the tax claim it forces families to sell assets, such as businesses or farms, to cover the tax liability.

https://www.providencejournal.com/story/opinion/columns/2026/03/08/rhode-island-estate-tax-impacts-families-and-businesses-opinion/88850364007/?utm_campaign=trueanthem&utm_medium=social&utm_source=facebook&fbclid=IwY2xjawQa4zJleHRuA2FlbQIxMQBicmlkETFWUEI2SGoyMmFhdTZGQlpLc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHme52GmJx6frejUp96zXqrPBJaHkZCzFnBz3N1IOjXQkBboD2lz68aQ1ufK1_aem_-q1qn54isW4PhszSzEbosA

Rhode Island's estate tax forces families to make impossible choices, impacting businesses and driving residents away.

03/08/2026

Season Reminder: Key Advice for Rhode Island Income Tax Preparation**

Dear Clients and Friends,

With Tax Year 2025 returns due April 15, 2026 (and e-filing now open), it's time to prepare thoughtfully for your Rhode Island state income taxes. While Rhode Island generally follows federal adjusted gross income as a starting point, there are important state-specific rules, modifications, and opportunities to maximize your refund or minimize liability.

Here are some practical tips we share with clients:

- **Confirm your residency status early** — Full-year residents file RI-1040 if required federally or if RI income exceeds exemptions + standard deduction. Nonresidents/part-year residents use RI-1040NR for RI-source income. Double-check domicile and days in RI to avoid surprises.

- **Gather documents promptly** — Include your federal 1040, W-2s, 1099s, plus RI withholding (Schedule RIW), proof for subtractions (e.g., RI 529 contributions), and credits.

- **File electronically via the RI Tax Portal** — It's faster, reduces errors, and speeds refunds. Use Free File if eligible (federal + RI together).

- **Meet deadlines** — File and pay by April 15, 2026. Extensions (via RI-4868 or portal) extend filing but not payment—pay any balance due to avoid penalties and interest.

- **Leverage RI-specific benefits** — Subtract items like 529 contributions or certain venture capital investments from federal AGI. Claim credits such as the Earned Income Credit (a % of federal), property tax relief (Schedule CR for seniors/renters), or taxes paid to other states.

- **Watch for decoupling** — Rhode Island does not always conform to recent federal changes (e.g., exclusions for tips/overtime under H.R. 1 may require add-backs on your RI return—see Schedule HR1 if applicable). This affects self-employed, tipped workers, or those with specific income.

- **Standard vs. itemized deduction** — RI allows itemizing if it benefits you (mortgage interest, charity, etc.), but verify against the 2025 standard deduction ($10,900 single, $21,800 joint, $16,350 head of household) and phase-outs.

- **Estimated payments** — If self-employed or with irregular income, make quarterly estimates if expecting to owe $100+.

- **Plan ahead** — Consider timing income/deductions, retirement contributions, or other strategies to reduce liability.

Common pitfalls include math errors, missing schedules, overlooking RI-source income, or incomplete documentation—avoid them with organized records.

For complex situations (multi-state income, business ownership, high assets, or prior issues), professional guidance is essential. I'm happy to coordinate with your CPA or discuss how these rules apply to your situation.

Visit tax.ri.gov for the latest 2025 RI-1040 forms, instructions, inflation adjustments (e.g., exemptions $5,100, brackets updated), and the Tax Portal. Tax laws evolve—always check current guidance.

Wishing you a smooth filing season! Feel free to DM or reply with questions.

IMPORTANT NOTICE: A nation-wide text message scam continues to target Rhode Islanders.Texts claiming to be from the Rhode Island Division of Taxation are not legitimate. Do not provide your banking details or sensitive information.The Division does not contact taxpayers by text regarding a balance d...

02/24/2026

Due to the historic blizzard and the Governors continued travel ban our Rhode Island offices will remain closed tomorrow, Tuesday February 24, 2026.

02/18/2026

State income tax quietly shapes real estate choices because it changes what your home actually costs to keep, not just to buy. In high tax states like California or New York, a big raise, a bonus year, or a strong investment portfolio can make the “same” lifestyle feel meaningfully more expensive year after year, which pushes some buyers toward lower tax states like Florida or Texas, especially when they can work remotely. For others, the math cuts the other way: they accept higher state taxes because the city, schools, network, and long term appreciation potential are worth the premium, and they focus their search on neighborhoods and property types that hold value best. Either way, taxes turn a location decision into a cash flow decision, and that’s why smart buyers look past the list price and ask, “What does living here cost me every year?”