If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability,…Read More
Archive for the ‘Tax’ Category
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Follow IRS rules to ensure you receive your charitable tax deductions
If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition,…Read More
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If you made gifts last year, you may (or may not) need to file a gift tax return
Gifting assets to loved ones is one of the simplest ways of reducing your taxable estate. However, what may not be as simple is determining whether you…Read More
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Life insurance can be a powerful estate planning tool for nontaxable estates
For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses. It’s been particularly…Read More
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Tax Cuts and Jobs Act expands appeal of 529 plans in estate planning
It’s common for grandparents to want to help ensure their grandchildren will get a high quality education. And, along the same lines, they also want the peace…Read More
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Tax Cuts and Jobs Act: Key provisions affecting estate planning
The Tax Cuts and Jobs Act of 2017 (TCJA) is a sweeping revision of the tax code that alters federal law affecting individuals, businesses and estates. Focusing…Read More
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Tax reform and estate planning: What’s on the table
As Congress and President Trump pursue their stated goal of passing sweeping new tax legislation before the end of the year, many taxpayers are wondering how such…Read More
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Take advantage of your gift tax annual exclusion for the holidays
Make the holidays bright for you and your loved ones with annual exclusion giftsRead More
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Inadequate Records Lead to Unfavorable Results for Taxpayers
Federal tax law allows deductions for many items, such as legitimate business expenses and charitable donations. But, if you claim deductions on your tax return, you also…Read More