Kay Sowa

Kay Sowa

Kay Sowa is a paralegal in the Trusts and Estates Group at Capehart & Scatchard, P.A. She is an IRS Enrolled Agent, an Accredited Estate Planner®, and a Certified Trust and Financial Advisor. She oversees the trust and estate administration practice for the firm. She is an accomplished author and lecturer who has frequently spoken on behalf of a number of organizations including the National Business Institute and the Institute of Paralegal Education.

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Will You Make Your Kids Angry After You Die?

During my career of doing estate administration, I found in the earlier years that the beneficiaries were more appreciative of what they received.  The children got along and all was well.  However, our society has changed and now there are many cases ending up in court to settle matters which were not able to be […]

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Being Safe and Secure Online

I know you keep hearing about online security and soon you will say, if you haven’t already, that I am like a broken record.  But in today’s world, one cannot be too safe or secure.  Cookies on the internet are tiny files that are transferred to your computer from websites you visit.  This is a […]

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Are You Thinking of Selling Your Home?

You think about it but are concerned about a large capital gain if you have owned your home for several years.  You don’t want all of the profit to be spent in paying capital gains’ tax.  Do not fear.  There is good news for sellers.  When you file your income taxes for the year of […]

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The Sharing Economy – How It Can Impact Your Taxes

You have decided to take the whole family and a few extended family members on a trip to Hawaii.  In all, there will be nine of you.  So, let’s see – how many hotel rooms would you need to accommodate the travelers, taking into consideration if kids would be in a room by themselves, who […]

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Nice To Meet You

It is so nice to meet you.  But, you ask, how did we meet?  I don’t recall meeting you.  Is my memory fading? Maybe your memory is fading, but I really don’t care about that.  Let me tell you some ways that I may have met you.  Have you entered contests and provided your name, […]

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Weddings and Taxes

What an odd combination you might think.  But it is something to be considered when planning a wedding.  No, unfortunately you can’t get a deduction for the cost of the wedding.  Sorry.  But regardless of when the happy couple becomes Mr. and Mrs., the first tax return as a married couple will be due before […]

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Online Shopping

Summer is around the corner and whether you are shopping online to get ready for a vacation or relaxing while on vacation and decide to indulge, BE AWARE!  Your financial information, tax information and Social Security number could be at risk.  Cybercriminals want to turn stolen data into quick cash. They do this by draining […]

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Don’t Get Caught In a Phish Net

Data thieves don’t take a break.  EVER.  They are always working.  One might say they are workaholics.    The most common way for cybercriminals to steal money, bank account information, passwords, credit cards and Social Security numbers is to simply ask for them. Every day, people fall victim to phishing scams or phone scams that […]

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Have you reached or are you approaching 70-1/2 years?

When you reach the age of 70-1/2, you are required to begin taking retirement plan distributions.  Failure to do so could subject you to a surcharge by the IRS.  This distribution must be taken by April 1 of the year following the attainment of age 70-1/2.  These payments are called required minimum distributions (RMDs) and […]

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Here’s What the IRS Recommends that Taxpayers Should Do to Protect Private Data

(a reprint from an IRS notice) Taxpayers should protect their personal and financial data from criminals who continue to steal large amounts of information. Thieves use the data to file bogus tax returns and commit crimes while impersonating the victim. All taxpayers should follow these steps to protect themselves and their data. Keep a secure […]

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