On November 7, 2020, major news networks declared former Vice President Joe Biden the winner of the 2020 Presidential Election. With Biden’s election, there is likely to be a shift in many policies, from foreign diplomacy to tax incentives. One area that may soon be altered is an increase in…
Almost every type of income comes with a tax consequence. Capital gains and dividends are both income but they are treated differently when it comes to taxes. Understanding the difference between capital gains and dividend income can have an impact on portfolios and tax planning. That includes the difference in…
Recent tax law changes are turning traditional estate planning on its head. Indeed, moves long considered savvy–for example, aggressively shifting wealth to younger generations while senior family members are still alive or leaving assets to a “bypass” trust–may no longer be necessary to save estate tax and could now leave…