In this issue:
Assets Transferred Before or After Death? Are you thinking of transferring ownership of assets to your children or others while you’re still alive? Don’t create a potential tax trap for the recipients of your generosity by ignoring the advantage of the “Step-Up” basis.
I'm coming across more and more "tax strategies" that are actually just "tax fraud." Usually, these strategies implement a complicated or convoluted entity structure in order to lessen or avoid taxes altogether. These are not legal, and the reason is the Economic Substance Doctrine. (View More >>)
In the digital age, where social media doubles as a hub for financial advice, misconceptions about taxes and business structures are rampant. One prevalent myth is the notion that simply forming a Limited Liability Company (LLC) unlocks a treasure trove of previously unavailable tax deductions. Let's set the record straight. (View More >>)
February
Taxpayers may want to be aware of important updates as they prepare to file their 2023 federal returns. This article includes information, filing tips, and last-minute opportunities for tax savings.
This article explains how a 529 plan can help a family save for college, including recent changes that have made these plans more flexible.
Credit may not be at the top of the list when it comes to retirement, but good credit can make a big difference for retirees. This article looks at some key factors that lenders consider.
This article provides an overview of four estate planning documents that almost everyone should have: a durable power of attorney, a medical directive, a will, and a letter of instruction.
This article explains why it may be better to use a credit card for certain transactions, as long as the bill is paid on time to avoid interest charges.
Despite tougher lending conditions and higher interest costs, many people who need capital for business purposes may need to borrow money. This article discusses some common financing options.
