tax

Four Easy to Avoid Mistakes People Make at Tax Time

It’s that time of year again: tax season. No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down all of their important documents to meet the April 15 deadline. But as with

2019-03-25T14:58:56-08:00March 21st, 2019|Tags: , |

Warning: Don’t Let Creditors Inherit from You

Shocking to most people, the retirement account you leave for your spouse can be seized in a divorce, lawsuit, or bankruptcy. 3 Options Available To Surviving Spouses When your surviving spouse inherits your IRA, he or she generally has three options: Cash out the inherited IRA and pay the income tax. WARNING! The cashed-out IRA will not

2019-02-15T15:19:23-08:00February 15th, 2019|Tags: , , , , , , |

Your Fall “Legal Affairs” Checklist

Fall is an excellent time to review your affairs. Below is a checklist to ensure your planning meets your needs and is up-to-date: When was your power of attorney last updated? A power of attorney is a valuable legal document, no matter what the circumstance. Not only is it flexible and can be prepared to meet

2018-10-05T12:59:25-08:00October 5th, 2018|Tags: , , , , |

What to Do with Your Beloved Collection

Whether your beloved collection consists of artwork, books, cars, music, or other significant items, you should not forget about this valuable asset when estate planning. You have likely spent quite some time -- whether years or your entire life -- building your collection; you should not leave its fate to the whims of the court. Estate

2018-08-19T19:03:55-08:00August 16th, 2018|Tags: , , , , |

Three Things You Need to Know About Estate Planning

This quick article from the Wall Street Journal hits the three most basic estate tax concepts in a pretty concise and straight-forward way. If you have any questions about the interplay between the annual gift exemption ($14,000), the estate tax exemption (currently $5.43 million per person) or the lifetime gift exemption (it ties in with the