Category Archives: Tax Planning
529 Plans Are Useful for College Tuition AND Estate Planning
As the cost of college tuition rises, so do parents’ stress levels. According to one website, the cost of tuition for one year at some schools can be enough to make a decent down-payment on a house. By the time … Continue reading
You Can Help Your Child Become a Homeowner—But Do Your Research First
American culture is one that respects independence and self-reliance; but with the current tough economic situation, and the fact that more young adults are graduating from college without jobs, or living at home until well into their 20’s, many families … Continue reading
What Will You Be Doing With This Year’s IRA Withdrawal?
Many of our clients who are 70 ½ or older have chosen in the past to give a certain portion of their required IRA withdrawal to charity each year; doing so has allowed them to take the required withdrawal, keep … Continue reading
Friendly Reminder to Take Advantage of Tax Deductions Before Year’s End
As 2011 draws to a close just about everybody has their minds on vacation, travel, and gift-buying, so we just wanted to take a moment to remind all of our readers to take advantage of your tax deductions and allowances … Continue reading
Long Term Care Insurance Is Tax Deductible for Business Owners
By now most people, when planning for their “Golden Years”, know that they need to consider the possibility that they may need long-term care at some point in time, and that long-term care insurance is a logical option for this … Continue reading
IRS Announces Another Extension for Estate Tax Filing Deadline
Just a few weeks ago the IRS announced the November 15, 2011 estate tax filing deadline for large estates of decedents who passed away in 2010; but some executors might be relieved to know that the IRS recently extended the … Continue reading
Some Tax Saving Strategies from the Wall Street Journal
Income, estate, and other federal tax levies have commonly been a bone of contention between those with different political ideologies; but the current conflict has reached unusual heights, with various million- and billionaires publicly expressing their views (pro or against) … Continue reading
Don’t Let Tax Laws Limit Your Generosity
The past two years have been tough on the average American family. The economy has been floundering and the unemployment rate has been hovering around 9-10% since 2009, not to mention the roller coaster ride we’ve all been through with … Continue reading
Charitable Lead Trusts Can Benefit Your Heirs AND Your Favorite Charity
2011 and 2012 are good years not only for heirs but also for charities; high estate- and gift-tax exemption amounts (as much as $5 million per person) have many wealthy families exploring their options for gift-giving, and record-low interest rates … Continue reading
QPRTs Offer A Chance to Have Your Cake and Eat It Too
Since the burst of the housing bubble a few years ago and the subsequent crash of real property value, many of the clients who have come into our office have bemoaned the lowered value of their homes, but we have … Continue reading