tax
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. How do the rules work? Under the current…
Read More
Avoid capital gains tax with QSBS Qualified small business stock (QSBS) is an often overlooked, but potentially lucrative, investment. Be aware that it’s subject to several strict requirements. But if…
Read More
Most married couples assume they should file joint income tax returns, and usually, that’s the right choice. But under certain circumstances, there may be benefits to filing separate returns. Bear…
Read More
A primary reason people want to keep their assets out of probate is because it’s a public process. It can also be time consuming and costly. A living trust is…
Read More
The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act has been getting a lot of attention for its many provisions that make it easier for people to save…
Read More
“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls…
Read More
Most people recognize the need for an estate plan. Among many other things, your plan can help ensure your family will be taken care of per your wishes after your…
Read More
Charitable deductions: Dot the i’s and cross the t’s Don’t underestimate the importance of the substantiation requirements for deductions of charitable gifts. In a recent U.S. Tax Court case, a…
Read More
There’s a common misconception that Social Security benefits are tax-free. In fact, many people pay federal tax on a portion of their benefits. Recent inflation has resulted in a record…
Read More
“Nonprobate assets” are those that bypass more traditional estate planning vehicles, such as a will or revocable trust. Instead, they’re transferred to family members through beneficiary designations. Nonprobate assets can…
Read More