Sure, you can pay Uncle Sam more taxes than you have to. But why? You see, if you know how to take advantage of all that the law allows, you can save a bundle. Let me be specific. After you read this article, take my advice and act by December 31. When you do, you can get five year-end family-related tax breaks that can leave more money in your pocket. Are you … [Read more...]
Divorce
Sorted by Date
Divorce: Beat Alimony, Redeem Spouse’s Stock in Your Closely Held Corp.
If you’re getting a divorce, or are in the process of getting one, my new article makes must reading. Why? Because the Tax Cuts and Jobs Act of 2017 (TCJA) significantly changed the way you should handle divorce planning now. Failing to understand how to comply with Uncle Sam’s rules can cost you a lot of money. That’s why it’s so important for you to read my new article … [Read more...]
Know These Divorce-Related Tax Issues for Small-Business Owners
Are you going through a divorce or thinking about ending your marriage? If you are, I urge you to consider the important tax consequence you’ll face. Thanks to the Tax Cuts and Jobs Act (TCJA), those consequences have changed for tax-years 2018 and later. As a small business owner, what do you need to know in order to emerge from a divorce with the most favorable tax … [Read more...]
Check Your Beneficiary Designations Now, Before Disaster Strikes.
Are your beneficiary designations listed correctly on key documents? Are they up to date? I sure hope so because you may think that with the generous $1.4 million federal estate-tax exemption, your estate wouldn’t owe any federal estate tax. Or that your estate plan is in good order. But things change. Your wishes change. And things can turn ugly fast if your beneficiary … [Read more...]
Tax reform says get divorced now. Don’t wait.
Are you thinking of getting divorced? Will you be paying alimony? If you’re answering “yes,” I suggest you act this year. Why? Because tax reform has changed the alimony game, and if you split up after 2018, you could wind up paying double the alimony. Sure, divorce is painful. But having to double your alimony payments makes a difficult situation even worse. To … [Read more...]