Often, a client wants to keep land in the family. Sometimes they want to discourage further development and get tax benefits for doing so. A conservation easement can help achieve both objectives. Read on to learn more. … [Read more...] about Conservation Easements Can Be a Good Solution
Tax Reporting with Trusts
Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Nongrantor trusts are trusts which are not grantor trusts. But, what is the tax reporting for grantor and nongrantor trusts? Read on to learn more. … [Read more...] about Tax Reporting with Trusts
Taxation of Nongrantor Trusts
“Nongrantor” trusts are trusts which aren’t taxed to a substantial owner pursuant to the grantor trust rules. Such a trust must file its own tax return and the income of the trust would be taxed to it, unless distributed. Read on to learn more. … [Read more...] about Taxation of Nongrantor Trusts
Advantages of Using a “Grantor Trust” in Planning
Grantor trusts are trusts which are income taxed to the “substantial owner” of the trust. Usually, the substantial owner is otherwise known as the “grantor” or “trustor.” Grantor trusts can be quite useful in tax planning. Read on to learn more. … [Read more...] about Advantages of Using a “Grantor Trust” in Planning
Roth IRAs Can Be a Great Planning Strategy: Advanced
This is the second in a two-part series on Roth IRAs. The first part reviewed the basics of Roth IRAs. Read on to learn more. … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Advanced
Roth IRAs Can Be a Great Planning Strategy: Basics
Roth IRAs can be a great planning strategy. They can save taxes and help in many ways. Read on to learn more. … [Read more...] about Roth IRAs Can Be a Great Planning Strategy: Basics
Plan Now for the Incredible Shrinking Exclusion
There is a great deal of legislation pending and much is uncertain. But this much is certain, the estate tax exclusion will go down by half beginning 2026 under current law. Now is the time to plan for your clients and yourself. Read on to learn more. … [Read more...] about Plan Now for the Incredible Shrinking Exclusion
Planning Is Important
Planning is important. End-of-year tax planning is one part of that planning. This year you should also consider whether you’ve had any payroll tax withholdings deferred. If your employer deferred those withholdings, you’ll have more money withheld next year than usual. That means you’ll have less money for other things, like IRA contributions. Read on to learn more. … [Read more...] about Planning Is Important
Many Reasons to Plan
Each of us will die eventually. This article looks at how planning can make our passing easier for our loved ones. Specifically, this article looks at how planning can maintain privacy for your loved ones. Many Reasons to Plan … [Read more...] about Many Reasons to Plan
A Special Option for Special Kids
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
