Category Archives: Tax Planning
Maximizing Year-End Tax Planning with Your Estate
Now that the end of the year is quickly approaching and it’s a good reminder to set up a meeting with your CPA or estate planning attorney to discuss any major changes in your life this year. Getting these changes documented or a strategy in place before the end of the year can give… Read More »
Joint Bank Accounts Can Be Problematic for Crises
Establishing joint accounts that are used by both children and parents can seem like the most effective way to handle financial emergencies or to step in if someone needs assistance with their finances as they get older. But this can cause significant estate and tax planning problems and another strategy might be more effective…. Read More »
Tax Planning Tips to Remember as You Approach the End of the Year
An uncertain legislative and tax environment should be prompting you to analyze all tax opportunities as you look forward to 2018. There are several different things you can incorporate into your planning considerations for 2017 as an individual. These include: Deferring income and accelerating deductions if you can. Using itemized deductions before they disappear…. Read More »
Caregivers Can Use Checklist For Loved One’s Legal Affairs
Caregivers have so very many responsibilities toward their loved ones, but some may not realize that keeping track of their legal affairs is almost on a par with watching out for their physical health, a recent article on the website of the AARP points out. “The ultimate goal is to make sure you have… Read More »
List Of ‘Where Not To Die’ Updated For 2015
In the somewhat macabre Forbes magazine’s annual list of “where not to die in 2015,” some changes are noted over the recommendations for the current year. (Photo credit: Wikipedia) Since most people probably think there is no such thing as a good place to die at all, the focus for the publication’s ongoing series… Read More »
Those With Offshore Accounts Facing More Scrutiny
Honesty is the best policy, but the best way of being honest with the Internal Revenue Service when it comes to offshore accounts isn’t always easy to discern. Logo of Internal Revenue Service, USA (Photo credit: Wikipedia) A recent article in Forbes magazine focuses of Credit Suisse officials pleading guilty back in May to… Read More »
Tax-Free Gifts Flowed After Congress Changed The Law
A law passed late in 2010 has resulted in a quadrupling of tax-free gifts less than two years later, according to a recent item by Bloomberg News. (Photo credit: Wikipedia) Congress approved legislation that let wealthy Americans make gifts with no tax penalties of as much as $5 million, and they sure responded, the… Read More »
Changes in the Law Change Where it’s Best to, Um, Die
Death may be a certainty, but the taxes attached to departing this veil of tears are anything but. “When it comes to state death taxes, nothing’s certain,” according to a recent article on Forbes.com. Entitled “Where Not To Die In 2013 Update,” the piece described changes in the law in various states that have… Read More »
How Healthy Are Your Finances? A Mid-Year Financial Check-up
One of our previous blog posts mentions upcoming changes to tax law this winter, and what further changes may be in store once November comes around and we know who will be in the White House next year. This could be interpreted as a reason to wait on making any changes to your estate… Read More »
Changing Tax Law and the Presidential Campaign
Curiosity and excitement are always to be expected in an election year—especially curiosity about taxes. We all know that each presidential candidate has very different philosophies about where the tax burden lies, how much should be paid, and by whom; but all most of us really want to know is how the implementation of… Read More »