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 […]
Each year sees changes to the tax code. Those changes usually affect nearly everyone. In 2023, tax changes in the Inflation Reduction Act came into effect, including an increase in per-barrel oil taxes and changes to the standard deduction and Alternative Minimum Tax Rate. Keeping up with the tax changes ensures you file your taxes […]
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 […]
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 […]
Benjamin Franklin pointed out that “death and taxes” are the only sure things in life. That adage holds as true today as it did in 1789. While both are unavoidable, there are things that you can do to reduce your tax liability and make the ongoing process run more smoothly. By being well-organized and knocking […]
The federal estate tax is a tax that is levied on property that is transferred from one person to an heir following their death. This property can include cash, real estate, stock, and other assets. However, the tax is only levied on the wealthiest of estates because the only part of an estate that is […]
