Archive

Did you know the new CARES Act just signed into law may allow you a charitable deduction of 100% of your AGI if you are at least 59 1/2 and you make it from your IRA in 2020. Talk to your tax advisor.  #TuesdayTip

Secure Act, Cares Act and Coronavirus, do you think someone is trying to get you to review, perhaps update, your Estate Planning documents?   #TuesdayTip

Do you know what the SECURE Act is? The President signed it in late December.   #TuesdayTip

Did you know that requirements for distribution of IRAs now starts at age 72?   #TuesdayTip

Be sure to update your estate planning to ensure that your heirs will get second stepped up basis upon the second death of you or your spouse. Under previous planning techniques we used A-B Trust. Since the introduction of portability this may not be necessary and may in fact cost your heirs estate income tax.  […]

During the season of giving, don’t forget that charitable contributions continue to be deductible if you itemize deductions.     #TuesdayTip

The annual gift tax exclusion amount for each individual is $15,000 for 2019 and does not carry over to future years. As the end of the year approaches, have you taken full advantage of the annual exclusion?     #TuesdayTip

Are all of your beneficiary designations up to date on assets such as a life insurance policies, 401(k) accounts, and IRAs?     #TuesdayTip

With the holiday season here, now is a great time to tell your family where all of your estate planning documents and important information is located.    #TuesdayTip

The estate tax exemption for 2020 is $11.58 million, an increase from $11.4 million in 2019.   #TuesdayTip