Income Tax Planning in Retirement
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Estate Planning Tax Law Changes Investors Must Understand
A revolution is underway in Estate Planning. You know about the 2012 changes to the law (see our February 2013 issue). They require fresh approaches and strategies. Many believe the new law means estate planning is unimportant. That’s a mistake. A result of the 2012 law is that for most people income taxes are a […]
April 2010
April 29, 2010 03:30 p.m. Wild week of headlines and more For many months volatility was declining in the investment markets, and investors were secure in the belief that the economy was solid and asset prices would continue rising. Things have changed a bit. On Tuesday afternoon, the headlines were not to rosy. Here’s what […]
How to Maximize the Tax-Free Portion of Each Annuity Payment
The popularity of fixed and immediate annuities is climbing for those in or near retirement. It is not surprising. An immediate annuity offers fixed, guaranteed payments. The payments can last for life if you want, and even for the joint life of you and a beneficiary. In today’s volatile and uncertain markets, annuities add a […]
How to Take Write Offs for Helping Relatives
In many families, younger members help care for older members for at least a brief period. Care can take several forms. It could involve financial help for at-home services or residence at an assisted living or other facility. Care also could involve personally providing a person’s needs in either the caretaker’s home or in the […]
How to Multiply the Benefits of Gifts
A key estate planing tool for almost every family is more valuable as of Jan. 1, 2009. The annual gift tax exclusion is increased to $13,000, up from $12,000. Each person can make gifts of up to $13,000 annually to any other person without incurring gift taxes or counting against the lifetime annual gift credit […]
When You Should File Gift Tax Returns
Too often people neglect to file gift tax returns. A smart plan is to file a gift tax return even when not required to. In some situations that provides substantial insurance. Gifts above the annual exemption amount ($13,000 for 2009) potentially are taxable and must be reported on Form 709. The gift might not be […]
Year End Tax Planning for Possibly Reduced Taxes
This could be an especially profitable year to do year-end tax planning. The elections might lead to major income tax changes in 2009, and the gyrations of the markets provide some investors with tax planning opportunities. Tax planning is best done two years at a time. Taxpayers usually have flexibility over when to recognize some […]
2008 Election and Your Tax Planning
The Presidential election is approaching. We cannot forecast a winner, but we can make judgments about how the tax law will change starting in 2009 and steps you should consider today in light of the likely changes. Some wealthy people already anticipate big changes and are making tax-saving moves this year. For, example, the announcement […]
