1. How to Correctly Name Beneficiaries for Your IRAs

    Date Published:
    Categories:
    , , , , ,
    Tags:
    , , , ,

    You could be unintentionally reducing your family’s wealth potential if you do not properly designate the beneficiaries of your IRAs. Improper estate planning could mean that your IRA assets could pass to the wrong people or entities, so how you execute your beneficiary designations is critically important. Here are some of the steps that need to be taken to properly nam…Read More

  2. Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep – Part 2

    Date Published:
    Date Modified:
    Categories:
    , ,
    Tags:
    , , ,

    No matter who you vote for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number of reasons why you may want to start strategizing now if you could be impacted. If you wait until after the election, it could be too late. Whi…Read More

  3. Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep – Part 1

    Date Published:
    Date Modified:
    Categories:
    , ,
    Tags:
    , , ,

    No matter who you are voting for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number of reasons why you should start strategizing now, because if you wait until after the election, it will very likely be too late. Although…Read More

  4. 6 Changes to Watch For In Your 2020 Taxes

    Date Published:
    Date Modified:
    Categories:
    Tags:
    ,

    Although you may have just filed your 2019 income taxes in July, now is the time to start thinking about your 2020 return due next April. While it’s always a good idea to be proactive when it comes to tax planning, it’s particularly important this year. In addition to annual updates for inflation, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides …Read More

  5. How Do Trusts Help You Save on Taxes?

    Date Published:
    Date Modified:
    Categories:

    Many people come to us curious (or confused) about trusts and taxes. So today’s article is going to sort it out and clarify things for you. Different types of trusts have different tax consequences. REVOCABLE TRUSTS Revocable trusts, which are the far more commonly used trusts, have no tax consequences whatsoever. A revocable trust has your social security number as it…Read More

  6. Setting Every Community Up For Retirement Part II

    Date Published:
    Date Modified:
    Categories:
    ,
    Tags:
    , , , ,

    The SECURE Act’s Impact On Estate and Retirement Planning In the first part of this series, we discussed the potential ramifications the SECURE ACT has for your estate and retirement planning. Here, we’ll look more deeply into additional strategies you may want to consider in light of the new legislation. (Part I of this article) On January 1, 2020, the Setting Every C…Read More

  7. Tax Consequences of Divorce

    Date Published:
    Date Modified:
    Categories:
    ,

    The Tax Cut & Jobs Act Drastically Alters the Tax Consequences of Divorce The Tax Cuts & Jobs Act (TCJA) made sweeping changes to exemptions, deductions, and credits for your family’s federal income taxes. But one major change that you might not have noticed is the way the law altered the potential tax consequences of divorce. Unlike child support, alimony paymen…Read More

  8. The Clintons

    Date Published:
    Date Modified:
    Categories:
    ,

    Bill & Hillary Clinton What You Can Learn from the Clintons’ Tax Returns What can you learn from reviewing the Bill and Hillary Clinton’s tax returns, which they released during Hillary’s run for the presidency, about how to save money on your own taxes? First and foremost, plan ahead and plan well, and this is the time of year to do it, especially if you are sel…Read More