Too many high-earning professionals and business owners think of estate planning as something to do “someday”—after retirement, after the kids are grown, after things slow down. But life doesn’t always wait for the perfect moment. Whether you’re running a practice, growing a business, or building generational wealth, the decisions you make today will shape [...]
Tax savings for business owners may be found in the Qualified Small Business Stock. As a business owner or professional looking to invest in small businesses, you're likely always on the lookout for ways to optimize your financial strategy. One powerful but often overlooked avenue for reducing tax liability is Section 1202 stock, also [...]
Tax brackets changes for 2023 have been announced by the IRS in response to rising inflation. Tax brackets play a crucial role in determining how much individuals and businesses owe in taxes. These brackets define the income ranges that correspond to different tax rates, ensuring a progressive tax system where higher earners pay a [...]
Learn the right ways to help your adult children buy a home so you minimize any implications on your own financial goals and estate planning. As parents, we want the best for our children, and one significant milestone in their lives is purchasing their first home. However, rising property prices and challenging financial circumstances [...]
We’ve all heard stories of lottery winners who have gone bankrupt. While an impending inheritance for you may not be on the same level as winning the lottery jackpot, there are still things you should be aware of when it comes to smart ways to handle an inheritance. Your inheritance may include more than [...]
Have you seen the headlines about the “Build Back Better Act”? You may need to pay closer attention to your estate planning and retirement accounts in the near future. Although the bill hasn’t passed yet, the proposed tax law changes could impact your exposure to estate planning taxes and your self-directed IRA investment options. [...]
Let’s face it, we know thinking about what happens after you die isn’t something you necessarily want to think about or talk about. With the “greatest wealth transfer in history” in our midst, it’s important to know what happens to your assets when you die and how you can properly plan for them to [...]
When it comes to estate planning, there’s no easy way out. We previously wrote about estate planning myths, and there are so many more that we didn’t cover. It can be a confusing process, especially with estate tax laws. Solutions that may seem simple could end up costing you and your loved ones many [...]
It’s a very busy and distracting time of the year with the fast-approaching holidays and, of course, the election that’s just around the corner. This time of year is always a great time to review any current estate plans you already have in place and with the upcoming election there could be some other [...]
I used to tell to my friends and clients to hang up if they receive IRS collection calls. Similarly, the IRS and law enforcement officials often issue warnings about phone scams involving tax collection, and each time they claim the same thing: "The IRS will never call you to demand payment. It sends letters by mail." [...]
