When moving your retirement money to an IRA, you should follow this one rule of thumb. If you fail to follow the rule I’m about to reveal, you can face two big problems. • First, your check will be shorted by 20 percent. • Second, you will be on the search for replacement money. Here […]
Retirement Plan and IRA Rollover Advice Read More »
Tax reform changes the alimony game. This may or may not have any relevance to you, but if it does, you will want to move quickly. The Tax Cuts and Jobs Act (TCJA) eliminates tax deductions for alimony payments that are required under post-2018 divorce agreements. More specifically, the TCJA’s new denial of alimony tax
Tax Reform Changes the Alimony Game! Read More »
Traditional individual retirement accounts (IRAs) became available in 1974 and have been around ever since. This makes your odds of inheriting a traditional IRA pretty good. The purpose of this letter is to look at some of the rules that apply when you inherit an IRA from someone other than your spouse. Traditional
How To Handle a Traditional IRA Inherited from a Non-Spouse Read More »
Tips For Real Estate Investors If you are a real estate investor I’m sure you are familiar with a number of tax laws and strategies that real estate investors encounter frequently and not so frequently. Things like: *Tax Rules and Solutions at Purchase and During Ownership of Real Estate *Living With the Passive Loss Regulations
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Well, they did it. They drug it out to the last minute, but they did it. Weeelll, they did some of it. And I’d really like to thank all of them in Washington for dragging us through this during the holidays and leaving us to sort this all out this morning while at the same
December 27, 2012 2013 Tax Outlook: Facing the “Fiscal Cliff” The 2012 election left us with the same President, same Democratic-controlled Senate, and same Republican-controlled House of Representatives. But 2013 brings several new challenges. That’s because several important tax provisions are scheduled to expire at the end of the year, in what some observers are
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Robert W. Craig, E.A. Tax and Business Services January 5, 2012
January 2012 Newsletter Read More »
What Is a Professional Fiduciary and How to Know If You Need One by Sara A. Henry, Attorney at Law www.VintageLawyer.com You are preparing estate planning documents (a Trust, Will and Health Care Documents) and your lawyer asks you who you want to name to the crucial positions of Executor, Guardian, Conservator and/or Trustee. Your
Do You Need a Professional Fiduciary or Living Trust? Read More »
The estate tax, that tax on the fair market value of a decedents assets, kind of “expired” in 2010. That is, if one passes away in 2010, there is no estate tax. I read that George Steinbrenner’s estate was worth something like $1.1 billion which means his estate gets a pass on $500 million to
I’ve gotten 5 calls this week asking essentially the same question…”do I still need a living trust since there is no more estate tax?” First of all let me clarify that the “estate tax” is gone only for 2010. It, unless there is some new legislation, scheduled to revert back to 2002 law. It would
Why Do I Need A Living Trust? Read More »