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We are nearing the October 15th filing deadline, so all the crying is almost over 2019 tax return submissions.   We blogged throughout the summer on various topics, but now you’re down to a few weeks to effectively do 90% of what can be done to affect your 2020 tax liability.  Only a few things can be done … The Tax Clock Is Ticking Read More »

All around the country, there are people in an absolute panic because the real tax deadline for personal tax return extension filers is approaching and they are running out of time.  A few blogs ago, we talked about how to possibly deal with not being ready for the corporate deadline on September 15th .  We don’t have an amusing anecdote … Tax Planning: It Isn’t Just For Breakfast Anymore Read More »

With Labor Day here, what tax planning should I think about before the fourth quarter is in full swing?  The biggest mistake a business can make is not knowing their true numbers. The biggest mistake individuals can make is thinking they aren’t affected financially just because they “made it” and are back to work.  Business … Plan Your 2020 Tax Outcomes Now Read More »

Millions of Americans die each year without any type of estate plan in place, and this forces their families into the court system, where they experience the high cost and time delay characteristic of probate proceedings. In fact, more than 50 percent of Americans don’t even have a will or any type of estate plan. … Smart Estate Planning Tips for Entrepreneurs Read More »

When people save for retirement they almost automatically use accounts that avoid tax now.  IRAs, 401(k)s, 403(b)s, 457s, all pretax retirement savings plans.  Certainly, long term savings uninterrupted by withdrawals and the effect of compounding interest on interest earned is unarguably valuable, but doing that in pretax accounts is NOT the only way to have … Roth IRAs Are Often Misunderstood Read More »

ery often when speaking of corporations established for laudable purposes people incorrectly equate the word “nonprofit” with “charitable.” While this may be a distinction without a difference in casual discussions, when it comes to a federal tax return, the two are not synonymous. This misperception during the initial stages of planning and establishment of a … A Nonprofit Organization is Not Necessarily a “Charitable” Organization Read More »

The uncertainty of the future can be a scary thing. As you get older, your body and your finances change, affecting every facet of your life and creating the need to make sure that you have a plan in place, should anything unforeseen occur. This is why you need the assistance of an elder law … Understanding the Rising Costs of Long-Term Care Read More »

The SECURE Act went into effect at the beginning of this year and has significantly impacted both retirement planning and estate planning. We urge all of our clients with trust as part of their estate plan to check in with us to ensure that their trust document does not need to be updated after this … How Does the SECURE Act Affect Your Estate Plan? Read More »

When medical issues arise, it is imperative that you have a plan in place, in order to help you and your family deal with the situation. Many who face these types of problems do not have the legal, financial, and medical steps put in place, in order to deal with the ramifications of this crisis. … Planning Ahead is Vital to Securing Your Future Read More »

A Donor Advised Fund or “DAF” is defined as “an account at a sponsoring organization, generally a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time.”  But what does that mean in practical terms? You can set up … Charitable Planning Series: Donor Advised Funds Read More »