Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Income Tax Planning

Related Income Tax Planning Topics

Capital Gains & Investments

Deductions

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family-limited-partnerships

Family Limited Partnerships

Family limited partnerships are evolving, and people are finding more uses for them. Until recently, family limited partnerships (FLPs) were considered primarily vehicles for reducing estate and gift taxes. But these vehicles are so flexible that families are finding many practical uses for them, even when taxes aren’t an issue. You might find that they […]

tax-breaks-increase-for-2002

Tax Breaks Increase For 2002

You’ll be able to give away more money tax free in 2002. Inflation indexing finally has pushed the annual tax-free gift amount to $11,000. The annual amount has been indexed for inflation since 1997, but adjustments are only to the nearest $1,000. Tax-free gifts can be made to anyone. You don’t need a relationship with […]

how-to-plan-tax-savings-now-for-the-new-year

How to Plan Tax Savings Now for The New Year

Most people focus on income and estate tax planning at year-end. In recent visit I’ve given you advice on how to get the most from year-end planning. But I believe you can save more money and build more wealth by planning and making moves at the beginning of the year. This is the best time […]

dynasty-trusts

The New Era Of Dynasty Trusts

Dynasty trusts are making a big comeback under the 2001 tax law. Before the estate tax was enacted many years ago, dynasty trusts were the standard way to ensure family wealth was preserved and grew through several generations. Now, with the estate tax being phased out more families can emphasize the non-tax goals of estate […]

deduct-college-expenses-save-tax

An Alternative Strategy for Deducting College Expenses to Save Tax

The Holy Grail for many taxpayers is to deduct college expenses paid for a grandchild or a child. With a little planning, you can do just that using a strategy known as the college unitrust. It can make a lot of sense if you have a charitable intent to go along with the desire to […]

making-shrewd-roth-ira-decisions

Making Shrewd Roth IRA Decisions

The Roth IRA is one of the best investment tax shelters Congress ever created. But volatile markets add some complications to Roth IRA decisionmaking. If you converted a traditional IRA into a Roth IRA earlier this year or if you are considering a conversion, you should keep an eye on the markets before and after […]

great-strategies-for-year-end-giving

Great Strategies for Year-End Giving

You don’t need cash to put a sizeable tax deduction on this year’s tax return. If you have some appreciated assets, you have a way to keep the taxman at bay. The best assets to use are your first or second home and securities, such as stocks or mutual funds. Pick the proper strategy and […]

how-the-2001-tax-law-affects-your-will

How the 2001 Tax Law Affects Your Will

Your will and estate plan need to be reviewed. If you’ve procrastinated about a plan, this is the time to get started. But even if you have been meticulous, the 2001 tax law requires at least a review and probably significant changes. The common feature all estate plans will need for the next 10 years […]

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