When you make charitable donations, be sure they are deductible by following the rules the Internal Revenue Service sets forth. Certain rules apply to donations less than $250, more than $250 but less than $500 and over $500. Regardless of value, every donation must be made to a qualified charity in order for you to […]
When creating your estate documents, you need to determine which documents best fit your situation. Wills, trusts, living wills and powers of attorney could save you money and will help your heirs save money if you become incapacitated or when you die.
Will vs. Trust
Both documents are used to give your assets to those of your […]
The gift tax may have a severe financial impact on your finances, depending on the size of the gift, the size of your estate and other factors. While many do not have to worry about gift taxes, some do, as there are limits to how much you are able to gift. Keep in mind that […]
The time to start getting ready for filing your taxes is the day you file your current taxes. If you keep receipts and stay organized throughout the year, your taxes – whether you do them or an accountant does them – will be less painful.
1. Create a Filing System
Create a filing system, whether digital or […]
You are never too young to make a will, as long as you are emancipated, which means you are on your own. Florida Statutes §732.501 states that you must be 18 years of age or an “emancipated minor,” and must be of sound mind. Florida statutes also provide the circumstances in which a minor may […]
Each year the tax code changes, so you should retain a professional to help you, especially if you have a business. However, even accountants can make mistakes and you might find yourself in need of a tax attorney. You may also wish to consult a tax attorney on major life changes, such as selling a […]
When it comes time to put wealth and property into a legally binding will, some things are easier than others. You generally leave cash, physical assets and life insurance to help meet the financial needs of a spouse and children. But a business with many moving parts can be more complicated. Not every heir has […]
May 1, 2017 is “May Day,” but did you know that there is another reason to recognize the day? The first of May is also “Law Day” in the United States.
What is Law Day?
60 years ago, in 1957, the then-President of the American Bar Association (ABA) had the idea to honor the legal system […]
For many people, just hearing the word “taxes” is enough to make blood pressure soar. We’re in the final stretch now for the 2016 tax filings, so it’s too late to do much to make that process easier this year. However, there are some simple things you can do now that will help when it […]
You have about a month to get your taxes filed with the Internal Revenue Service. National Tax Day is usually April 15 of every year; however, on some years, you may get a few extra days. 2017 is such a year. This year, April 15 is on a Saturday, and the IRS doesn’t count weekend […]
