Many factors go into retirement decisions. This article examines many of those factors, such as where to retire, access to healthcare, income taxation, estate taxation, property taxation, etc. This article includes many links to helpful lists.Retirement is Complicated … [Read more...] about Retirement is Complicated
Retirement takes planning. This article includes milestone ages, such as when you must begin taking distributions from retirement plans. The article also includes links to resources which will be helpful in your retirement planning process.Age-Related Retirement Milestones … [Read more...] about Age-Related Retirement Milestones
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the asset protection of such plans and how a trust may be used to provide asset protection.Planning for Retirement Plans and IRAs: Asset Protection … [Read more...] about Planning for Retirement Plans and IRAs: Asset Protection
Perhaps the largest part of most Americans’ wealth is in their qualified plan or IRA. Planning for these assets is one of the most important parts of the estate plan, for many reasons. This article will discuss the importance of beneficiary designations.Planning for Retirement Plans and IRAs: Beneficiary Designation … [Read more...] about Planning for Retirement Plans and IRAs: Beneficiary Designation
Blended families require special planning. Communication of those plans is key to keep frictions to a minimum. This story examines the controversy in the family of sports reporter Craig Sager, who died in December 2016.Sager Family Shows Perils of Blended Families … [Read more...] about Sager Family Shows Perils of Blended Families
The new tax law has many impacts on state income taxes in 2018. The law limits the deductibility of state income taxes for federal purposes. It also raises the federal standard deduction amount. However, taxpayers should consider the impact on their state income tax of the decisions they make to minimize their federal taxes. This article examines why.New Tax Law May Affect State Income Tax, Too! … [Read more...] about New Tax Law May Affect State Income Tax, Too!
A new ruling addresses whether a donor advised fund may satisfy charitable pledges by the donor/advisor. It now may do so, as long as certain requirements are met. Read the article to learn more about how donor advised funds are a great tool for charitable giving.Donor Advised Funds: IRS Issues New Ruling … [Read more...] about Donor Advised Funds: IRS Issues New Ruling
Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund.Would You Prefer a Charitable Deduction This Year? … [Read more...] about Would You Prefer a Charitable Deduction This Year?
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the … [Read more...] about No Charitable Deduction in 2018?
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26.A Special Option for Special Kids … [Read more...] about A Special Option for Special Kids