Category: Estate Planning

Estate Planning

Tax Considerations for Divorced and Divorcing Couples by Joanie B. Stein, CPA


Posted on January 13, 2017 by Joanie Stein

Couples who separated or began the process of divorce during 2016 should remember that their marital status will affect their individual tax filings in April 2017. Following are some tax tips to keep in mind. Name Change. Individuals who change their names after a divorce must notify the Social Security Administration (SSA) by completing Form SS-5, […]

6 Ways to Use your Year-End Bonus by Scott Montgomery, CLU, ChFC


Posted on January 12, 2017 by Richard Berkowitz

Congratulations to the countless American workers who received year-end bonuses from their employers in 2016. Before heading out on a shopping spree, however, individuals should consider the following suggestions for putting those extra dollars to work for them in the future. Maximize Retirement Savings. Workers with access to an employer’s 401(k) retirement plan should consider […]

Students, Families Face Earlier Federal Financial Aid Application Deadline in 2016 by Joanie B. Stein, CPA


Posted on September 22, 2016 by Joanie Stein

Students planning to attend college for the 2017-2018 academic year may begin applying for federal financial assistance as early as October 1, 2016. In prior years, students were required to wait until after January 1 to complete the Free Application for Federal Student Aid (FAFSA) and subsequently wait until the Spring to determine their eligibility […]

Proposed Regulations Threaten Valuation Discounts, Spur Immediate Estate Planning Need by Barry M. Brant, CPA


Posted on August 15, 2016 by Barry Brant

High-net-worth families may have a more difficult time transferring real estate and business assets to their heirs under proposed regulations recently issued by the U.S. Department of Treasury. At risk are the tax-saving discounts that entrepreneurs have used for decades to transfer ownership interests in closely held businesses and real estate, either by gift or […]

Turning a Gift into a Non-Taxable Transaction by Kenneth J. Strauss, CPA/PFS, CFP


Posted on August 02, 2016

The IRS considers the transfer of money or property from one individual to another without the expectation of an equal transfer in return a taxable gift. However, taxpayers have a number of opportunities to avoid paying federal taxes on transfers they consider to be gifts. Give less than the Annual Exclusion Amount. For 2016, taxpayers […]

Estate Planning Tips for Blended Families by Kathleen Marteney, CRPC


Posted on January 05, 2016 by Richard Berkowitz

When second marriages result in the blending of two families, a complicated financial picture may emerge. Couples coming into a second or third marriage bring with them ex-spouses, children from previous relationships and financial responsibilities, assets and liabilities that may carry deep emotional attachments.   Addressing these delicate issues from the onset will help newly blended […]