For many people, this may be a great time to kill a traditional IRA. Dismantle it. Take it down. Cash it in. Or at least start that process and save thousands of tax dollars doing it. Especially as we head into the home stretch of the year.
Many of my financial advisor friends … Continue Reading
Vacation property and “second homes” – whether in the mountains or at the beach – present a number of legal and tax planning opportunities.
A little secret: Most of what you'll read here also applies to your residence.
Avoid Probate With A Trust
First, consider probate … Continue Reading
I am NOT making this up. Last week the Internal Revenue Service issued advice to field personnel on how illegal drug traffickers should be handling taxable aspects of their, er, “business.”
Not many of my clients are drug dealers . . . OK . . . none that I know of. And I don't … Continue Reading
Act By June 1 to Save Property Taxes
Many folks who are over age 65 or who are disabled may not know that they may be entitled to significant reductions in property taxes assessed against their homes.
If someone is 65 years of age or older or has a disability, and has income of … Continue Reading
Yesterday Congress passed, and President Obama signed, legislation averting for the time being a trip over the “Fiscal Cliff.” I say “for the time being” because the real slugfest is ahead during the 113th Congress. The deal did very little to address stupendous amounts of debt … Continue Reading