Posted in Estate Planning, Estate Taxes, Family-related on Jan 3rd, 2008 No Comments »
Saturday, December 29, 2007
Estate taxes eat away a substantial portion of your estate if you are not careful to take necessary steps in time. It is absolutely essential for you to start planning at once if you have property valued above two million dollars. This is the current limit up to which no estate tax [...]
Posted in Estate Planning, Estate Taxes, Retirement, Saving on Sep 14th, 2007 No Comments »
By MICHAEL DAVIDOFF
From the time we entered the workforce, we’ve learned how important it is to save for retirement. In fact, if we put $1,000 away for someone graduating from college today, it would be worth over $72,000 by the time they start collecting social security. (This assumes graduation at age 22, social security at [...]
Posted in Estate Planning, Estate Taxes, Family-related, Tax Loopholes on Sep 13th, 2007 No Comments »
In a past article I relayed the plight of the widow who stated:
“I didn’t realize what an A-B Revocable Living Trust meant and that it had to be divided between the survivor and the deceased spouse and that I am limited as to what I can use from his share.”
She told me that she only [...]
Posted in Charitable Contributions, Estate Planning, Estate Taxes, Family-related on Sep 13th, 2007 No Comments »
By Michael Katz
Special to TheStreet.com
9/12/2007 10:41 AM EDT
Click here for more stories by Michael Katz
Whenever something of value changes hands, the Internal Revenue Service is usually going to want its cut.
But if you plan ahead and employ tax-smart strategies, you can make sure more of your wealth goes to your nephew Steve than to [...]
Posted in Estate Planning, Family-related, Tax Loopholes, Trusts on Sep 10th, 2007 No Comments »
Tax Strategies for the Wealthy: Qualified Personal Residence Trust (QPRT)
Wealth management is an important issue for those with substantial assets to protect. Many people incorrectly assume that their estates will escape federal estate tax [...]
Posted in Estate Planning, Family-related on Sep 3rd, 2007 No Comments »
Jeremy Vohwinkle,
Your Guide to Financial Planning.
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Your net worth can be a useful tool to measure your financial progress from year to year. Your net worth is essentially a grand total of all your assets minus your liabilities. There is no magic net worth number, but you should use your net worth to [...]
Posted in Capital Gains, Estate Planning, Estate Taxes, Family-related, Real Estate Investing, Real Estate Taxes, Retirement, Saving, Tax Loopholes, Tax-Breaks on Sep 2nd, 2007 No Comments »
By Alan L. Olsen, CPA MBA (tax)
Managing Partner
Greenstein Rogoff Olsen & Co. LLP Wealth management is an important issue for those with substantial assets to protect. Many people incorrectly assume that their estates will escape federal estate tax [...]
Posted in Estate Planning, Estate Taxes, Family-related, Retirement on Aug 31st, 2007 No Comments »
I’m most found very common mistakes that people make in the divorce process. A tax or financial pro can help you avoid them. - Don’t let emotions guide you in determining the divorce settlement. Divorce is on every side a lot of things, but is caused first of all by emotional issues or financial problems in [...]
Posted in Estate Planning, Family-related, Tax Deductions, Tax-Breaks on Jul 16th, 2007 No Comments »
Not all caregivers can get tax breaks
USA Today
Jul. 15, 2007 09:42 PM
If you’re supporting an elderly parent, you may qualify to claim that parent as a dependent or seek other deductions on your tax return. For tax year 2007, claiming an additional personal exemption would reduce your taxable income by $3,400. [...]
Posted in Estate Planning, Estate Taxes on Jul 5th, 2007 No Comments »
July 02, 2007: 08:05 PM EST
Jul. 2, 2007 (Investor’s Business Daily) –
Today’s Democratic-led Congress looks unlikely to repeal the federal estate tax.
So your best course of action may be to stay alive. But in the unpleasant event you can’t, careful planning will preserve more of your hard-won assets for your heirs. First, [...]
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