Even at the ripe old age of 100, the Federal Estate Tax – also affectionately known as the ‘death tax’ – is still steeped in controversy. When it was first instituted in 1916 during the height of World War I, it was seen by supporters as a reasonable way to enhance U.S. revenues in case America joined … Continued
Utilizing Home Equity to Meet Long-Term Needs and Objectives The term downsizing typically connotes difficult decisions, often conjuring up images of harsh corporate layoffs. But downsizing also commonly describes the sensible and often rewarding —even cathartic — act of moving from a large house into a smaller and more manageable living arrangement. Of course, … Continued
Since 1993, the federal government has incentivized investment in small businesses through favorable tax treatment in order to keep the economic engine running. Those efforts have proven successful, as small businesses created nearly two million of the roughly three million private-sector jobs generated in 2014 and more than seven million of the 11 million jobs … Continued
“He who will not economize will have to agonize.” – Confucius (551 BC – 479 BC) For thousands of years people have been told to adhere to a budget, and today the thought seems as daunting as ever. This can be especially true for those who live in a high cost area such as San … Continued
Many families hold philanthropy as an important family value and strive to find ways to give efficiently, perhaps accomplishing additional objectives in the process. Investors, having lived with low interest rates for many years, are starting to see signs that rates may gradually rise. That begs a question: are there unique financial planning opportunities worth … Continued
Protecting Americans from Tax Hikes Act of 2015 Signed into Law Very rarely big changes sweep the landscape of financial planning but when they do taxpayers are sometimes awarded significant benefit from the change. On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act was signed into law. The Act does considerably more … Continued
Many couples going through divorce are opting to pursue a settlement process through mediation. Mediation can reduce the overall cost and the emotional trauma experienced in a more traditional dissolution process in which spouses are separately represented. While every situation is unique, people generally find the neutral mediator and the structured sessions typical to this … Continued
Typically, a regular IRA is not the most efficient asset to use for inter-generational transfers of wealth. If the IRA and estate are large enough, both estate and income taxes will apply. As a result, heirs can end up with only about 20% of the actual value of an IRA. However, if estate taxes are … Continued
One nice feature of the increasingly popular charitable vehicle called the donor-advised fund (DAF) is the ease with which it can be established and managed. An equally important attraction is the ability to accelerate charitable deductions into the year in which any gifts are made to the DAF, even though donors can defer any actual … Continued
Summer’s quickly come to a close, the kids are back at school, football is on television and Halloween costumes are in the stores. I’ve barely put away our beach bag and the holidays are a few short months away. And with that comes the realization of another year’s passing. This is the time of year … Continued