Consulting financial and tax advisers as part of planning the retirement process is essential to get the health-care piece covered. Enjoying truly golden retirement years means a lot of different things to different people, but it should include planning for long-term health care now so we obtain the end-of-life care…
There are three basic tax advantaged vehicles to help save for college: 529 plans, Coverdall Education Savings Accounts and Roth IRAs. Saving for college? Consider three tax advantaged tools to help fund your child’s or grandchild’s education: 529 plans, Coverdall Education Savings Accounts and Roth IRAs. A recent Forbes article,…
Actually, the answer is yes. The Tax Court is an actual federal court and not, as some people think, affiliated with the IRS. At Tax Court, the IRS is a party to the matter just like the taxpayer. If you’ve got beef with the IRS, maybe you should head to…
What should you have expected to hear during the State of the Union address in January? Key proposals from the President include the following. President Obama addressed the country in his January State of the Union speech about key proposals he has for our government. Forbes recently detailed some of…
This year, two legislators who pressed for reform in 2014 are back with new bills they believe have stronger chances of success, as the excesses possible within Florida's guardianship system become more widely known. A recent article in The Herald Tribune, titled “Legislation aims to curb abuses in guardianship system,”…
In 2015, only estates worth more than $5.43 million per individual would owe federal estate taxes if the estate owner dies this year. That's up from last year's $5.34 million estate tax exemption. (In addition, the federal lifetime gift tax exemption also rises to $5.43 million in 2015.) 2015 brings…
Here are seven things you can do this month to positively impact your finances all year. Want to start the New Year off right when it comes to your finances? The Las Vegas Review-Journal article, titled “7 ways to give your finances a facelift in January,”cites some things you can…
As the executor of [my mom's] estate, I'm trying to help her decide what to do with the house. Let another family member live in it who couldn't pay rent but could help with upkeep? Rent it out for market value? Or sell? If she hasn't already, an article in…
Here are four rules you need to know about the estate tax for 2015. The estate tax exclusion is now $5.43 million. The federal estate tax applies only to those whose taxable estates exceed a certain amount. The U.S. has a unified gift and estate tax system, so if you…
Adult children who become caregivers often pay a steep price. However, with some smart strategies, you can avoid sabotaging your financial future. What can you do ahead of time to help ease the financial burden of caring for your aging parents? Look into potential tax breaks. As noted in a…