Archive

A helpful and thoughtful way to express your wishes and gratitude for your loved ones is by leaving a letter that explains what you valued and why you made certain estate planning decisions. #TuesdayTip

Following the July 21st Tuesday Tip, at its peak, the highest federal income tax rate was 94% in 1944.  #TuesdayTip

Do you know what the highest federal income tax rate was? Be sure to check back next week to see if you are correct. #TuesdayTip

Do you have a minor child or take care of someone with special needs? Naming a guardian for them should be an important consideration while planning your estate.  #TuesdayTip

Now might be the best time to make some low basis transfers while the market is still on the rise.  #TuesdayTip

Do your estate planning documents reflect your current thinking? If they do not, or you are unsure if they do, this is a good time to review and update your estate plan.  #TuesdayTip

Have you checked to see what effect the SECURE Act has on the inheritance of your IRA?  #TuesdayTip

Did you know the CARES Act eliminated required minimum distributions in 2020 for an individual retirement plan? #TuesdayTip

Has there been a marriage, birth, death, or divorce in your family since the last time you updated your estate plan? Might be a good time to review your documents.  #TuesdayTip

For those taxpayers that take the standard deduction, the CARES Act created a new incentive that if you donate up to $300 in cash to a qualified organization as a charitable contribution, you can receive an additional $300 deduction in addition to the standard deduction.    #TuesdayTip