Searching for Lower Taxes? Check State Laws
September 23, 2020
Some states are great to live in, but not so great to die in.
Should I Take the Early Retirement Package Offered at My Job?
September 22, 2020
The COVID-19 pandemic, which has kept many workers home, was a kind of test drive for retirement. You learned what it’s like to stay out of the office for long periods of time. However, many companies are hurting because of the economic turmoil from the coronavirus, and if you’re 50 and older, and your employer needs to cut costs, they may be looking at cutting you from the payroll.
Gifting Can Help Estate Plans and Heirs Reach Goals
September 18, 2020
Despite many attempts at repeal over the years, the modern U.S. Estate Tax has been in place since September 8, 1916. Each U.S. citizen and resident alien is entitled to a lifetime exemption from the federal Gift/Estate Tax called the Applicable Exclusion Amount.
State Laws Have an Impact on Your Estate
September 15, 2020
I am a resident of Florida. I would like to leave my condo in Florida to my friend’s daughter, who I consider my stepdaughter, after my death. She is a resident of New Jersey and they would use the condo as a vacation home. Will she be considered my daughter for tax purposes, and which state’s tax laws will count?
Which Stars Made the Biggest Estate Planning Blunders?
August 27, 2020
The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
Take Advantage of Tax Laws Now
August 21, 2020
If you like the way the laws are today, you need to take advantage of them now, before they are changed tomorrow. In other words, use it or lose it.
Some States are Lowering Taxes to Entice Retires to Relocate
July 14, 2020
Maryland is known as the Free State, reflecting its tradition of political freedom and religious tolerance, along with its resistance to Prohibition. Talk to retirees, though, and they’ll tell you the nickname is a misnomer, at least as far as taxes are concerned.