So you have decided to start your own business. Starting your own business can be exciting, fun and often times scary. Going at it alone is what you always wanted to do. If you decide to go all by yourself, …
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February Federal Estate Tax is a Voluntary Tax
You probably have not heard a lot of talk about the Federal estate tax lately. The most likely reason is that in our current estate tax system, your estate will only be subject to Federal estate tax if your taxable …
Feb Savvy Federal Estate Tax is a Voluntary Tax
You probably have not heard a lot of talk about the Federal estate tax lately. The most likely reason is that in our current estate tax system, your estate will only be subject to Federal estate tax if your taxable …
Unraveling the Mysteries of Annuities
You may have invested some or all of your nest egg in annuities. Annuities can be useful tools as part of a diversified investment portfolio. However, if you put all of your investable assets in annuities, this is putting all …
Repeal of New 1099 Reporting Requirements
For you rental property owners and businesses who were dreading the implementation of the new 1099 reporting requirements, you need not fret anymore. On Thursday, April 14, 2011, President Obama signed into law the Taxpayer Protection and Repayment of Exchange …
Planning for Second Marriages Can be Tricky
You may have been widowed or divorced, so you are now in a second or even third marriage. You both came to the marriage with your own separate property. However, you also may have property that you have accumulated during …
New Tax Law Increases Tax Free Inheritance
You have all probably heard that on December 17, 2010, President Obama signed the 2010 Tax Relief Act, which is actually called the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The main purpose of this act …
New 1099 Reporting Requirements
Starting January 1, 2011, record keeping for rental property owners will become a little more complicated. Then starting January 1, 2012, all businesses, including rental property owners, will have an increased reporting burden. There are two new reporting requirements. The …
Pitfalls of Deed Joint Ownership
The last few weeks, we have been discussing deeds and how just a small change in the words can make a huge difference in the ownership interest conveyed by a deed. I regularly see deeds drafted by individuals who have …
Converting Traditional IRAs to Roth IRAs
As you have likely heard many times by now, changes in federal law under the Tax Increase Prevention and Reconciliation Act of 2005 (“TIPRA”) went into effect on January 1, 2010, easing the qualification limits for you to convert your …