» Tax Planning

Update: Proposed Changes to Estate Tax Laws

Benjamin Franklin famously said, “In this world, nothing can be said to be certain except death and taxes.” The saying is true as far as it goes. But where death and taxes meet, change seems to happen with every administration, and not always for… Read More
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What Does Biden’s Tax Plan Mean for Step-Up in Basis?

During the 2020 presidential campaign, media coverage of the candidates’ tax plans was largely limited to income tax, most notably Joe Biden’s assurances that families earning less than $400,000 annually would not see their income tax increase. B… Read More
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Categories: Tax Planning

Take a Number: Important Tax and Retirement Planning Numbers for 2021

As you are probably aware, the Internal Revenue announces cost-of-living-adjustments (COLA) each year that increase the amount of certain tax deductions, thresholds, exclusions exemptions, and change contribution limits for retirement planning. If yo… Read More
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Prepaid Tuition or 529 College Savings Plan: Which is Best?

In the late 1970s, a student at a private college paid the modern equivalent of $17,680 per year to attend a private college. If that student went to a public college, total costs were just $8,250 per year. Fast forward 30 years, and those costs had… Read More
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Seven Year-End Tax Planning Tips for 2019

There are only a handful of days left in 2019, and while you may want to spend them making merry, you should devote at least a little time to brightening your tax picture for next year. When April rolls around (as it will, and sooner than you think),… Read More
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Categories: Finances, Tax Planning

Five Really Major Dangers of Required Minimum Distributions

If you have an Individual Retirement Account (IRA), you are probably familiar with the term Required Minimum Distribution (RMD). Most people know they have to take RMDs starting at a given age, but they may be a little fuzzy on the details—and that… Read More
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Categories: Finances, Tax Planning

The SECURE Act and Other Changes to Federal Tax Law on the Horizon

Like most Americans, you have probably just breathed a sigh of relief that the tax season is over and your taxes (hopefully) are filed. Thinking ahead to changes in tax law for 2019 and beyond is likely the last thing you want to do right now, but pl… Read More
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Categories: Tax Planning

2018 End of Year Tax Planning Tips

Every year, as we prepare to turn the calendar page to December, it’s a good idea to think about what we can do before the end of the year to minimize taxes. This year, with the Tax Cuts and Jobs Act (TCJA) having taken effect on January 1, it&… Read More
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Categories: Finances, Tax Planning

Benefits of Having a 529 Plan

You have probably heard of so-called “529 plans,” even if you haven’t looked into getting one. If you have children or grandchildren whose education is important to you, though, you may want to investigate 529 plans to help ensure t… Read More
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Categories: Finances, Tax Planning

The Tax Benefits of Home Ownership After Tax Reform

The Tax Cuts and Jobs Act, enacted in 2017, was the first major change to the U.S. Tax Code in decades. Suddenly, what taxpayers had accepted as gospel all of their adult lives was no longer necessarily so. We have received many questions from client… Read More
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Categories: Tax Planning
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