Estate Planning

Why it’s important to plan for income taxes as part of your estate plan

0 Comments

estate plan

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for your heirs.

Read More

Will You Have to Pay Tax on Your Social Security Benefits?

0 Comments

social security tax

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay?

Read More

Take advantage of a “stepped-up basis” when you inherit property

0 Comments

inherited assets

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.

Read More