No one looks forward to exorbitant long-term care expense, but it can create an opportunity to save thousands in taxes – a strategy that most walk right past.
Have you ever wondered, “Should we have a trust?”, then quickly...
Donor Advised Funds can increase gifts to your favorite charity and reduce taxes all without it costing anything more!
“I don't want to ruin my family with my wealth by leaving them a mess or causing conflict.” Does this sound familiar? These four steps can help!
“I’ll have to manage my parents’ finances at some point, but they don’t like to talk about this and I don't know where things are or what they want!” Does this sound familiar? These four steps can help!
Would you like to win the lottery? Receive a large inheritance? Receive a multimillion dollar sports contract? For many, sudden wealth ends up closer to a nightmare than a dream. Avoid these common sudden wealth mistakes!
With income and estate tax changes on the horizon, consider these strategies to adapt your planning if reform is passed. But don't let the tax tail wag the planning dog!
Paying for college isn’t cheap and it’s not getting cheaper, whether you’re planning for kids or grandkids. Here's why a 529 plan is a great first step toward making sure your children or grandchildren can achieve their educational aspirations.
The Biden administrations has proposed big tax law changes, with some of the most sweeping changes being made to taxes on assets passed on at death, often called estate taxes. Here’s a summary of the most notable proposals and strategies to consider if they are passed into law.
Making connections across generations isn’t always easy. But building an intentionally-designed Family Generosity plan is a great place to start!
Can we reduce our estate tax bill without losing access to our assets? When properly coordinated, strategies like these can help move assets out of your estate without putting them entirely out of reach!
A Charitable Remainder Trust (CRT) is an irrevocable trust that generates income for you or your beneficiaries with the remainder going to your favorite charity. Is it right for you?
A discussion of giving too much away might initially seem strange. But, if you’re not careful, you might inadvertently end up with a tax bill on funds you give away. This is called the gift tax and the IRS expects you to know it. After all, they’ve generously listed it on their website for you to read! So, how does it work?
You might be an early employee at Microsoft, a successful real estate investor, or the owner of a small business that has taken off. In each case, you own something worth a lot more than when you first acquired it. Now you’re staring down a large capital gain tax bill if you sell. Are you just stuck or is there anything you can do? We have a few ideas!
You might be an early Microsoft employee, tech company executive, or have been gifted shares of stock as a kid. You’d like to diversify, but the resulting tax bill seems almost as big as the portfolio itself! In Taxes & Highly Appreciated Stock, we’ll look at a case study and strategies to consider if you find yourself in this situation.
