Do you have an IRA? Then I urge you to read the full article. Why? Because it explains how the SECURE act, enacted by Congress last December, severely and negatively impacted the Stretch IRA strategy. NOTE: The “SECURE” stands for, “Setting Every Community Up for Retirement Enhancement.” What exactly was the Stretch IRA? The Stretch IRA wasn’t another kind of IRA. It … [Read more...]
Spouse
Sorted by Date
Husband-Wife Partnerships: Three Tax-Saving Strategies—Part 2
___________________________________________________________I hope this issue of the Tax Reduction Letter finds you and your family in good health. Warmest good wishes at this difficult time from all of us at the Bradford Tax Institute.___________________________________________________________ In Part #1 of our article titled Husband-Wife Partnerships-The Tax Angles, we … [Read more...]
Husband-Wife Partnerships: The Tax Angles—Part 1
Do you and your spouse work together in a business? Could the IRS consider the business a partnership? Then watch out. You see, running your business as a proprietorship can have major tax consequences… both good and bad. That’s why the Tax Reduction Letter is devoting two articles to this important subject. If you want to make sure you’re handling things the … [Read more...]
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...]