You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...
Posted by Jim McClaflin, EA, NTPI Fellow on 07/24/2021
In the past, the rules for family succession planning have remained relatively the same. Previously, when the original owner of an asset or property dies, the asset is passed to an...
Posted by Unifirst Financial & Tax Consultants on 07/16/2021
By the time you reach or are close to 30 years, you need to start a long-term business, which means saving and increasing your financial resources through income, savings, ROI, retirement...
Posted by Abundant Wealth Planning LLC on 06/25/2021
There are many changes after the death of a loved one, including changes in tax obligations. Unfortunately, it's easy to be overwhelmed by these changes. There are new reporting...
Posted by Abundant Wealth Planning LLC on 06/18/2021
A wealth tax, unlike income tax, is a tax paid annually on assets including property, real estate, cash in banks, investments, business interests, and whatever you have that is of...
Posted by KLSM CPA Firm PLLC on 06/18/2021
There are times a distressed borrower will negotiate with a creditor for debt relief. These borrowers will either file for bankruptcy or go with a debt relief program that can reduce...
Posted by James Financial Services Inc on 05/24/2021
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
Posted by Pat Raskob on 05/24/2021
This article sheds light on vital tax tips that can significantly help real estate investors. Be OrganizedIf you want to get back the funds you believe you deserve for the tax...
Posted by Elliot Kravitz, ATP on 05/24/2021
The importance of wealth preservation strategies increases with the increasing number of inventory and possession cases. Unfortunately, most people don't realize that their home...
Posted by The TaxAdvocate Group, LLC on 05/18/2021
