Don’t Forget These Year End Tax Planning Strategies

New tax laws across the United States should encourage some Americans to evaluate their yearend tax strategies in order to further enhance their wealth. Don’t make the mistake of assuming that it’s time to jump right into 2019 without proper planning. These strategies can be especially helpful since your previous tactics and plans might have… Read More »

Taxes & Estate Planning in 2018/2019

Estate planning might help to structure the distribution of wealth among the deceased’s children, spouse, and friends and relatives, and the second objective was to accomplish tax planning goals. Since the federal estate tax could be applicable for the decedent’s children, appropriate estate planning here helps wealth owners to protect the assets from avoidable taxation…. Read More »

Top Tax Friendly States for Retirees to Consider

As you look ahead towards your retirement, you may be interested in moving your homestead. There are several different tax friendly states for retirees and potential tax implications associated with staying where you are. Seven states that don’t tax personal income and the two states that collect income tax only on interest and dividend income… Read More »

Home Value Jumping? Save Improvement Receipts

Home values are on the rise again, and that means big taxes could be due for those who sell. In some cities, especially in California, New York, and Massachusetts, home prices have increased smartly over the last decade, according to a story in the New York Times. In those places, single homeowners with gains of… Read More »

Some Estate Planning Costs May Be Deductible

Are estate planning costs deductible? View image | gettyimages.com According to a column on lowellsun.com, some are. It says the IRS allows deduction of your legal fees and costs, but only if the estate planning is related to “income.” Specifically, that means costs are allowed as a deduction if they are related to: the production… Read More »