by Daniel Scott, Forbes July 26, 2018 Link to Original Article Estate planning is dead. Gone are the days of creating legal structures to hold your assets, pass your fortune on to the next generation and, of course, avoid paying estate taxes. Gone are the days of planning for your death. It’s time to plan for…
Continue reading…Category: Legislation
Celebrity Estate Planning Mistakes – UPDATE: Aretha Franklin Did Not Have a Will!
Large and complex estates are not always adequately planned for. The most recent example of this is the unfortunate passing of famous vocalist, Aretha Franklin. At 76, the singer’s illustrious career is left, vulnerable to the effects of probate, because no will or trust document was left to allocate her assets (link). Unfortunately, her heirs…
Continue reading…Small real estate investors might miss out on new federal tax deduction
by Kathleen Pender, San Francisco Chronicle August 25, 2018 Link to Original Article People who own just one or two rental properties might not qualify for the new 20 percent federal deduction that big-time real estate investors and other pass-through entities will get starting this year. The federal tax law passed in December lets many…
Continue reading…Think your company qualifies for a small business tax break? It’s complicated…
by Marcy Gordon, Associated Press August 10, 2018, USA Today WASHINGTON — Architects and engineers are still in. Accountants, doctors and lawyers remain out — mostly. New rules floated by the Trump administration lay out what kinds of businesses can take a 20 percent deduction against income taxes under the new tax law. With the…
Continue reading…Back-to-School Checklist: A Reminder to Reassess your Financial Planning (Part 2)
For many families, this week marks the beginning of a new school year. This week, we continue with the academic theme, and give you Part 2 of the Back-to-School Checklist. In this final segment, we are discussing the importance of updating your trust documents and planning for the holidays. Update Your Trust Documents Established…
Continue reading…Back-to-School Checklist: A Reminder to Reassess your Financial Planning (Part 1)
The ever-present rush of a new school year is upon us. For many families, this is the last week of summer. This is a great time to assess your current financial situation, long-term, and short-term goals. This week, we are discussing topics that are likely addressed at some point but may not be considered until…
Continue reading…Guardianship Issues – Awareness & Planning Wins
Getting older and losing one’s independence is a topic that most don’t like to think about, let alone plan for. However, it is extremely important to talk about these difficult issues in order protect Senior Citizens from being taken advantage of by unscrupulous third parties. The number of Americans ages 65 and older is projected to…
Continue reading…The Proposed GOP Tax Overhaul: A Summary of its Key Points for Nevada Families & Businesses (Part 2)
Part 2: Corporate/Business Taxes, Estate Tax, & Miscellany Corporate Taxes: Big Corporations would likely see a substantial tax reduction: one of the bill’s biggest aspects, and perhaps the most controversial, is the permanent reduction of the corporate tax rate from 35% to 20%- the largest one-time drop in big-business tax rate in history. Although the…
Continue reading…The Proposed GOP Tax Overhaul: A Summary of its Key Points for Nevada Families & Businesses (Part 1)
Part 1: Individual Taxes There are a huge variety of factors to weigh in trying to figure out whether individuals/households would see an increase or decrease in their tax rate. According to the bill’s supporters, most Americans are likely to see a small reduction of taxes under the plan; however, many Americans will see an…
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