Personal and Family Living Trusts
FollowMany people know that Personal and Family Living Trusts are used in a comprehensive estate plan. But do you know why? It is simply untrue that trusts are only for wealthy and high net worth individuals. Estate tax savings are a significant benefit of trusts, but more and more trusts are created for control and […]
Follow Many people know that Personal and Family Living Trusts are used in a comprehensive estate plan. But do you know why? It is simply untrue that trusts are only for wealthy and high net worth individuals. Estate tax savings are a significant benefit of trusts,...Foreign Bank and Financial Account Filing Requirements
FBAR requirements have been revised
Follow The IRS recently revised the reporting requirements for Foreign Bank and Financial Accounts (FBAR). If you’ve had more than $10,000 in foreign accounts then you should have filed this report. Along with the new reporting requirements came more stringent...Take advantage in 2010 but prepare for 2011 tax changes
Bush administration tax cuts are about to expire among other big changes. It’s time to prepare for the EGTRRA and JGTRRA tax cuts to end this year. There is also possibility of higher taxes for those with high net worth and incomes. Let’s examine some of the changes and some of the things that are […]
Follow Bush administration tax cuts are about to expire among other big changes. It’s time to prepare for the EGTRRA and JGTRRA tax cuts to end this year. There is also possibility of higher taxes for those with high net worth and incomes. Let’s examine...Will you be paying a war tax?
War tax is proposed to pay for Afghanistan troop surge
Follow This month President Obama announced he is sending a surge of 30,000 troops to Afghanistan. The hope is that this surge will result in some positive effects in the conflict. The trouble is that it costs about $1 million per soldier per year to support troops in...