Giving to charity not only benefits the charities but can also benefit the donor because of valuable tax incentives. To fully maximize the tax deductions, you – or your tax planning attorney – must understand the intricacies and strategies of charitable giving and tax law and how they apply to your unique financial situation. The […]
Many people start businesses and may even keep them for many years. Some even own a business for generations, handing it down from generation to generation. These businesses often become legacies. Preserving your company for future generations requires adaptability, strategic planning, financial success, and a commitment to the business’s values. Decisions you make today can […]
The saying “The only things certain in life are death and taxes” holds true, but individuals can exercise control over their financial destinies by adopting smart financial decisions for optimal tax outcomes. Year-round tax planning offers a proactive approach, allowing individuals to make informed choices that can lead to significant savings during tax season. Seeking […]
When you want to pass your assets to heirs, having an estate plan is critical; otherwise, your assets will go through probate. This could result in outcomes that you never wished for your heirs. Someone you may want to cut out of your will could receive your assets or your heirs could take on a […]
Estate planning is complex as there are many choices to make sure your loved ones receive your assets. One of those choices is whether to use a trust and, if so, which one is best for your circumstances. This is where an experienced estate planning attorney comes in – after listening and studying your circumstances, […]
Choosing the right executor to carry out your will is just as important as the will itself. This is because while a will is a legal statement of how you intend your assets to be distributed after your passing, an executor ensures that your wishes are carried out as spelled out in your will. The […]
Running a small business comes with a lot of unique challenges, not the least of which is managing your finances. If you can’t determine how much money is coming in or going out, it’s almost impossible to know whether you’re succeeding or not.
One area where many small business owners flounder is taxes. Even if you’re […]
If you intend to transfer your assets, which include money or property, to someone who is not your spouse or dependent as a gift, know that you will be required to pay a gift tax. Let’s dive into the fundamentals of gift taxation to help you understand how to navigate the laws surrounding it.
What Is […]
Many people think of tons of assets when they hear the word “Estate.” Not every estate is huge. Every person has an estate that consists of any assets you own. Even if you have a bank account and one car, you have an estate. If you become incapacitated or die, regardless of age, your estate […]
The best way to navigate business taxation, especially if you are getting ready to start a new business, is to retain a Florida business tax attorney. When determining which type of entity you want to use, you must look at the tax ramifications of each type. For example, a small business might benefit more from […]
