As we near the end of the year (it will be here before we know it), you may be thinking about donations to charities. But, then you remember you don’t itemize deductions on your income taxes, so does it really matter when you make your charitable donation? Last year, there was a deduction of up […]
We are using the digital world more and more with each passing day. Not only do we use it for communicating and entertainment, but we also use it for storing and accessing our asset information. You may know your logins and passwords, but what happens if you pass away or are not able to access […]
Based upon your age, you may be required to take minimum distributions from your retirement assets. If you don’t, then unlike in 2020 when the requirement was waived, failure to take your RMD may cause you to be surcharged. And, the surcharge could be 50 percent of the amount you should have taken. With less […]
Whether or not you follow all of the activity and talk happening in Washington, one topic that you might want to keep an ear open for is the federal estate tax discussions. Currently, for a decedent dying in 2021, the federal estate tax exemption/exclusion is $11.7 million. You may think that you are “safe” in […]
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