Estate and Trust are the two main legal structures for transferring assets to your heirs and beneficiaries. Each works in different critical ways. Estates make a single transfer of...
Posted by Taxes Made EZ Inc on 12/27/2021
If you've taken a break from the Required Minimum Distributions (RMDs) in 2020 due to the CARES Act, we hope you had a great vacation and are ready to come back and update your...
Posted by CORE PERFORMANCE on 12/10/2021
Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
You have worked hard for your wealth. You want these assets and values to be communicated to the people and organizations that are dear to you. Wealth preservation planning is the...
Posted by The TaxAdvocate Group, LLC on 11/04/2021
Usually, when taxpayers receive a notice and are assessed for penalties and interest related to federal income and informative tax returns, they tend to just pay them. Not so fast!...
Posted by James Financial Services Inc on 10/30/2021
Writing a will is stressful, but it's never a bad time to start estate planning. Whether motivated by age, circumstances, or sometimes guilt, estate planning is a necessary step...
Posted by Income Taxes and Bookkeeping LLC on 10/19/2021
Including Forgiven Debts With Income Almost everyone who gets a debt forgiven will get a Form 1099-C (Cancellation of Debt) from the lender, which reveals the amount of debt cancelled....
Posted by Income Taxes and Bookkeeping LLC on 09/03/2021
The designation of a power of attorney is a crucial aspect of any succession plan. After all, it allows someone to make medical, financial, and other decisions in your life if you...
Posted by Dennis Jao on 08/24/2021
There are tax laws regarding everything that has to do with an individual, even in death, and this is where Inheritance Tax applies. It focuses on the trust and tax process about the...
Posted by KLSM CPA Firm PLLC on 07/31/2021
