Protecting assets from creditors is a critical aspect of estate planning, but you need to think about more than just your own creditors: You also need to consider your heirs'...
Add Spendthrift Language to a Trust to Safeguard Its Assets
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Taxes
The IRS Is Making Small Tax Refund Interest Payments to Some People
In the near future, you may notice a small payment in your bank account or you may receive a check from the IRS. The tax agency recently announced that it will send interest...
Midyear Tax Planning Ideas for Individuals
The extended July 15 deadline for filing your 2019 federal income tax return is behind us. Now it's time to think about your current federal tax situation. Tax planning is...
5 Mid-Year Tax Planning Ideas for Small Business Owners
The second half of 2020 has begun. What steps can small business owners take today to lower taxes for the current tax year? Alternatively, would it make more sense...
Before You Do a 1031 Exchange, Consider These 4 Alternative Investment Options
One of the most attractive real estate tax benefits available in the U.S. is the like-kind exchange, which is governed by Section 1031 of the Internal Revenue Code. About...
CARES Act Provides 4 Possible Reasons to File an Amended Return
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act delivers good news to individuals and businesses, including valuable tax-relief measures. Some of...
COVID-19 Relief: New Rules for Deducting Charitable Contributions
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes several changes that encourage charitable giving during the coronavirus (COVID-19) crisis. This is welcome...
Making Large Gifts Won’t Harm Estates After 2025
In late 2019, the Internal Revenue Service (IRS) and Treasury Department issued a final answer to the question of whether large gifts made between December 31, 2017, and January...
2020 Standard Mileage Rates Announced for Business, Charitable, Medical, and Moving Purposes
The Internal Revenue Service recently issued the 2020 optional standard mileage rates. These rates, which adjust every year to account for inflation of fuel costs, vehicle cost...
Should You Extend Your 2019 Tax Return?
Roughly 15 million individual taxpayers filed for an automatic six-month extension for the 2018 tax year, according to the IRS, compared with about 10 million people in...