Category

Estate Planning

The ABCs of IRAs by Nancy M. Valdes, CPA


Posted on October 11, 2018 by

Individual Retirement Arrangements, or IRAs, are financial accounts that taxpayers may set up with an IRS-approved financial advisor, financial institution or life insurance company to save money for retirement.  However, because not all IRAs are created equally, taxpayers should take the time to learn the following terms and definitions. A contribution is the money individuals put into their […]

Tax Reform Exempts More High-Net-Worth Families from the Dreaded Estate Tax by Rick Bazzani, CPA


Posted on August 15, 2018 by Rick Bazzani

While the Tax Cuts and Jobs Act (TCJA) signed into law in December of 2017 did not make many adjustments to the existing gift, estate and generation-skipping transfer tax regimes, what it did do beginning on Jan. 1, 2018, is significant. Doubles the Estate and Generation-Skipping Transfer Tax Exemption Under the new law, fewer taxpayers will need to worry […]

Tax Reform Provides Senior Citizens with Opportunities to Maximize Tax Benefits of Charitable Giving by Adam Cohen, CPA


Posted on August 08, 2018 by Adam Cohen

It is estimated that less than half the number of taxpayers who previously claimed deductions for charitable contributions will continue to do so beginning in 2018, when the rationale for itemizing deductions may no longer make fiscal sense. However, the passage of the Tax Cuts and Jobs Act (TCJA) does provide an opportunity for taxpayers […]

Now is the Time to do Some Reverse Estate Planning by Jeffrey M. Mutnik, CPA/PFS


Posted on July 23, 2018 by Jeffrey Mutnik

For decades, families with moderate-to-high net worth have employed a variety of tried-and-true estate-planning techniques to protect assets, transfer wealth to future generations and minimize their income and estate tax liabilities. However, with the changes to the tax laws that went into effect beginning in 2018, a strategy that worked as recently as last year […]

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