5 Steps to Fix Your Battered Retirement Plan

June 5, 2015
It’s no secret that a majority of Americans are ill-prepared for retirement.  A recent Forbes.com post detailed the 5 steps you can take now to being repairing the hole in your retirement plan: Pay yourself first. Set up an account that is not easy for you to access and start filling it with a significant…
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Debunking 4 Common Myths About Gift Taxes

April 10, 2015
April 15 is not only the deadline for filing your state and federal income tax returns, but also the deadline for filing gift tax returns via IRS Form 709. Many people are confused about the subject of gift taxes.  While only two states — Connecticut and Minnesota — have a state gift tax, there is…
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Family Loans Must Be Made Properly to Avoid Tax Repercussions

April 10, 2015
The recession made many parents and grandparents into personal bankers, making loans to strapped children or grandchildren to help them cope with unemployment or other financial misfortune. However, family loans need to be prepared properly to avoid tax repercussions.  Here are some tips on how to do that: Put loan terms in writing – the…
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A Duty Checklist for Trustees of a Trust

April 3, 2015
It’s no misnomer that a position with so much responsibility carries the name “trustee”. After all, you have been entrusted with a solemn responsibility and you no doubt want to do the best possible job. Here are 10 things to do when you are appointed trustee of a trust: 1. Read the trust document, which…
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‘Tis the Season to Be Gifting: How to Do It Right

December 11, 2014
Not many people would view the IRS as a charitable organization, but you might if you plan your gifting appropriately – i.e., in a way that will benefit you on your income and gift taxes. Here are guidelines when gifting to charity or your own family members this season: Charitable Donation Rules Household items. These…
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7 Things To Think About Before Making Gifts to Grandchildren

October 2, 2014
If you have grandchildren – or are getting ready to welcome one like political power couple Bill and Hillary Clinton – you know the special joy they bring. After all, you can now leave all the heavy lifting to the parents and just enjoy connecting with them. Many grandparents who enjoy financial freedom are often…
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7 Steps to Creating an Estate Plan That Keeps Your Family Out of Court

May 2, 2014
Many people fail to create an estate plan because they don’t truly understand what is involved and therefore believe it is too complicated. But the real truth is that creating an estate plan during your lifetime is far less complicated than what your family will deal with after you are gone, if you don’t: Create…
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The Wealth Creation Trust: A Gift That Keeps On Giving

April 25, 2014
The perfect gift for your child or grandchild on the occasion of their birth, Bar or Bat Mitzvah, Sweet 16 or Quinceañera cannot be found in any store.  Instead, the hopes and wishes you have for your child (or grandchild’s) future can best be expressed with a gift of security, resources and a foundation of…
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Subject: Receiving an Inheritance One Day? Here’s What to Do Now.

February 21, 2014
Baby boomers are set to inherit up to $8.4 trillion over the next 15 years, according to The Center for Retirement Research at Boston College.  A recent New York Times article explored the complicated issues that these inheritances can bring, including transferring the emotional attachment you had to your parents to what they have left…
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How to Protect Life Insurance Proceeds from Taxation

February 7, 2014
If you have been responsible enough to purchase a life insurance policy as added protection for your loved ones, then you will want to carry that responsible action a little further by protecting that important payout from taxation. If you are married and have named your spouse as the beneficiary of your life insurance policy,…
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Save Money On Your Taxes

7 Last-Minute Moves To Save On Your Taxes For 2021

Although many strategies to save on your income taxes must be locked in before the end of the year, there are still numerous ways you can reduce your tax bill right up until the filing deadline, which has been pushed…

With Tax Laws in Flux: What Should You Do Now?

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats proposed a number of significant tax increases and…

Proposed Changes To Tax Laws That Will Impact Estate Planning—Part 1

On September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats have proposed a number of significant tax increases…

3 Ways To Benefit By Incorporating Charitable Giving Into Your Estate Plan

You are likely well aware of the tax benefits that come from donating to charity during your lifetime—donations to charity are tax-deductible. But you may be surprised to learn about the numerous benefits that are available when you incorporate charitable…

6 Ways The American Rescue Plan Can Boost Your Family’s Finances—Part 2

Signed into law on March 11th, President Biden’s $1.9 trillion American Rescue Plan Act of 2021 (ARP) is the largest direct-to-taxpayer stimulus legislation ever passed, and it came just in time to save millions of Americans whose unemployment benefits were…

6 Ways The American Rescue Plan Can Boost Your Family’s Finances – Part 1

Signed into law on March 11th, President Biden’s $1.9 trillion American Rescue Plan Act of 2021 (ARP) is the largest direct-to-taxpayer stimulus legislation ever passed, and it came just in time to save millions of Americans whose unemployment benefits were…

7 Ways To Save Big Money On Your 2020 Taxes—Part 2

2020 was a nightmarish year for many families. But thanks to recent legislation, you could see a silver lining in the form of major tax breaks when filing your income taxes this spring. First up, although it’s technically not a…

7 Ways To Save Big Money On Your 2020 Taxes—Part 1

2020 was a nightmarish year for many families. But thanks to recent legislation, you could see a silver lining in the form of major tax breaks when filing your income taxes this spring. First up, although it’s technically not a…

Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 2

No matter who you vote for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number…

Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 1

No matter who you are voting for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. And as you’ll learn here, there are…

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