When engaging in estate planning for individuals, attorneys must be diligent in asking the right questions, not only for financial purposes and the objects of one’s bounty, but also for religious beliefs and practices and to complete the planning by honoring the wishes of the individual doing their planning. If you are doing your estate […]
Today, many people are planning to age in their homes, which may result in the need for in-home paid health care. There are many considerations to be made for the protection of the person being cared for, the caregiver, and the family of the aged. Are you hiring a companion or a health aide? The […]
When it comes to estate planning, “it’s not just about valuables, but about values; not just about principal, but about principles.” [Dr. Barry Baines, “Ethical Wills, Putting Your Values on Paper”] Transferring values and ideals, in addition to your monetary wealth, is an important part of leaving a legacy. In other words, what your children […]
Abbreviations, acronyms, slang, metaphors, simile, hyperbole, puns, idioms – all types of figurative languages. When you think about it, we have so many forms of languages that the basics – English, French, German, Spanish – seem to be lost in the shuffle. In Estate Planning, we have many acronyms that are used and I thought […]
Retirement – for some people, they have achieved that stage in life. For others, they may be planning for retirement either in the not-so-distant or distant future. However, in whatever pre-retirement stage of life you are in, it is never too early to think about it. Taxpayers can deduct contributions to a traditional IRA if […]
I mentioned in a prior article that individuals would be able to participate in the identity protection PIN program. This PIN is a six-digit number assigned to eligible taxpayers to help prevent misuse of Social Security Numbers being used on fraudulent federal income tax returns. If you would like to take advantage of this program, […]
Yes, it is once again tax season. Your mailbox has probably started to receive those ever important tax information mailings. So, what can you do to help ease the stress that often comes with tax season? First of all, remember irs.gov. There are many resources available that can be found by searching the site and […]
If you are one of the many millions of Americans who receive Social Security benefits, you may have noticed that your benefit checks might be a little larger starting with January, 2021. This is due to the annual cost-of-living adjustment. Here’s a snapshot of the increases: Benefits to retired workers see an average increase of […]
Looking for highlights of items to keep in mind for your 2020 income taxes and the changes that could impact you? The IRS has a special page on IRS.gov that outlines many tips and explanations about returns for 2020. Here are some of the highlights to remember: If you received a Recovery Rebate Credit/Economic […]
Finally, 2020 is in the rearview mirror and we are all looking forward to a healthier 2021 around the globe. And, as we look forward, we all have income taxes to look forward to. So, what can you do NOW to ease the overwhelming feeling when you start the process? Here are some helpful tips: […]
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