3 Keys to Mid-Year Retirement Planning Checkup
With Q2 firmly in the rearview and Q3 of the 2016 calendar year off to a strong start, now is the perfect time to review your retirement savings goals and opportunities. From contributions to spending...
View Article5 Financial Tips for Fall
It’s hard to ignore the signs that fall has arrived. Football season has kicked off, the kids are back in school, and the trees are ablaze with yellow and orange. The approach of the fourth quarter on...
View ArticleYear-End Tax Tips and Organization
There are only a few weeks left of the calendar year, but you can still make an impact on your 2016 income taxes. Here are some year-end tax tips and suggestions for organization as you begin your tax...
View ArticleTax law uncertainty requires an estate plan that can roll with the changes
Events of the last decade have taught us that taxes are anything but certain. Case in point: Congress is mulling abolishing gift and estate taxes as part of tax reform. So how can people who hope to...
View ArticleA charitable remainder trust can provide a multitude of benefits
If you’re charitably inclined but concerned about having sufficient income to meet your needs, a charitable remainder trust (CRT) may be the answer. A CRT allows you to support a favorite charity...
View Article7 ways to prepare your business for sale – Succession Planning
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on....
View ArticleYou still have time to make 2017 IRA contributions | Tax-Advantaged Savings
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible...
View ArticleYour original will: Does your family know where to locate it?
In a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it comes to your last will and testament, only an original,...
View ArticleBasis consistency rules may come into play if you’re administering an estate...
When it comes to tax law changes and estate planning, the substantial increases to the gift and estate tax exemptions under the Tax Cuts and Jobs Act are getting the most attention these days. But a...
View ArticleAn FLP can save tax in a family business succession
One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start...
View ArticleKeep it SIMPLE: A tax-advantaged retirement plan solution for small businesses
If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help...
View ArticleIs a significant portion of your wealth concentrated in a single stock?
Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the next generation. One of the best ways to reduce...
View ArticleReview and revise your estate plan to reflect life changes during the past year
Your estate plan shouldn’t be a static document. It needs to change as your life changes. Year end is the perfect time to check whether any life events have taken place in the past 12 months or so...
View ArticleIt’s not too late: You can still set up a retirement plan for 2018
If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to...
View ArticleFamily businesses need succession plans, too
Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company...
View ArticleHastily choosing an executor can lead to problems after your death
Choosing the right executor — sometimes known as a “personal representative” — is critical to the smooth administration of an estate. Yet many people treat this decision as an afterthought. Given an...
View ArticleCharitable lead trusts offer philanthropic and family benefits
Affluent families who wish to give to charity while minimizing gift and estate taxes should consider a charitable lead trust (CLT). These trusts are most effective in a low-interest-rate environment,...
View ArticleYou may have to pay tax on Social Security benefits
During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to...
View ArticleUnderstanding the contents of a will
You probably don’t have to be told about the need for a will. But do you know what provisions should be included and what’s best to leave out? The answers to those questions depend on your situation...
View ArticlePutting together the succession planning and retirement planning puzzle
Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating and eventually executing a...
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