Has Your Personal Information Been Stolen?

As tax professionals, we most likely have more firewalls and tools in place than individuals to protect the information residing on our servers.  We are constantly checking to see if any breach has occurred and take steps to prevent any such breach. Many individuals prepare their own income taxes using any one of the various […]

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When to Re-Visit Your Estate Planning

You have spent days, and maybe even weeks, working with your attorney on your Estate Planning. You finally feel that you have addressed all of your concerns and are comfortable with who your belongings are going to after you pass away. Now, you can sit back and relax and never worry about your estate planning […]

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Attention Retirees

You have worked hard and have now retired.  You receive pension and/or annuity benefits, have taxes withheld and all is well when you file your income taxes.  True – well, maybe in the past, but perhaps not in the future due to changes to income tax by way of the Tax Cuts and Jobs Act […]

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Avoid Penalty for Underpayment of Taxes

So, as much as we grumble and grouse about paying taxes, imagine how you would feel if you received a notice from the IRS that you were assessed a penalty for underpayment of taxes. If we are employed as W-2 employees, taxes are routinely withheld from paychecks.  But, that only takes into consideration taxes on […]

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Paycheck Checkup

Like most working Americans, when we start a new job, we complete a Form W-4 to direct our payroll withholdings for federal income taxes.  Unless we have a life-changing event such as marriage or children, we don’t give it another thought about our withholdings.  We become complacent with whatever the bottom line is on our […]

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Did You Know Taxpayers Can Connect with the IRS on Their Mobile Phone?

If you have questions regarding taxes, you can access the IRS mobile app, IRS2Go, which is available for free to use on Android and iOS devices. It’s also available on Amazon. This app can be used to: Check the status of a refund. A refund status can be checked within 24 hours after the IRS […]

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A Dangerous Assumption – No Need to Do Estate Planning

With changes in the tax laws at the federal level as well as changes to state death tax laws, some individuals may feel that they do not need to give heed to their estate planning. With the new tax law roughly doubles the federal estate-tax exemption, to about $11.2 million per person in 2018, a […]

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Rethinking Old Trusts and Your Estate Planning

If you have a trust, you may think that their original purpose no longer seems compelling. Your estate plan may designate that your assets will pass into a “bypass” or “credit shelter” trust, which will pay income to your surviving spouse and ultimately pass assets to your children. Historically, it was common for married couples […]

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Freezes on Credit Reports

Are you interested in freezing your credit report/line to help avoid identity theft?  Good News – Congress has recently passed legislation that will allow people to freeze their credit lines for free.  This will allow people to block thieves from opening up credit in their name without charge. In the past, credit rating companies have […]

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Think you do not have anything to leave behind? Think Again! (Part 4 of 4) – Living Will and Advance Directive

You have now prepared your Last Will and Testament and have named your Attorney-In-Fact in your Power of Attorney, but what about your health? Who will take care of you and your medical needs if you become incapacitated? That is precisely what a Living Will and Advance Directive will provide. A Living Will and Advance […]

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