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.
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.
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.
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.
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.
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.
Congress passed a new tax law just before leaving for the holidays. The new law temporarily doubles the estate, gift, and GST exemption. The law increases the standard deduction and limits deductions for state and local taxes. Read the article to find out more about the new law and how it will impact you.
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 future.