Independent Contractors Should Consider an LLC
With the downturn in the economy and more people losing their jobs, more people are turning to their entrepreneurial spirits and starting their own businesses. At-home businesses are booming and ...
The New Federal Tax Law – It Still Pays to Give
There is much confusion about the impact of the “phase-out” of itemized deductions for high income tax payers. As we noted in last week’s post, under the new federal tax ...
Business Partnerships in Estate Planning
Changes in Partnership Usually when a business partner dies, a business partnership is considered legally dissolved. If more than two people are business partners though, the partnership can continue despite ...
New NJ Medicaid Rules for Elder Care
Effective December 1, 2014, an amendment to the New Jersey Medicaid program will create elder care opportunities for individuals who are caught in a sort of limbo. These individuals earn ...
Inheriting a Parent’s Real Estate: Tax Issues
Inheriting a parent’s real estate can certainly be a good thing. But, it can be complicated with regard to various tax issues. Below is a simple example to help you ...
Bankruptcy, Creditors, and Individual Retirement Accounts
When a person files for bankruptcy, certain of his assets may be exempt from the bankruptcy estate available to creditors. This is the case with traditional and Roth Individual Retirement ...
Disinheriting a Child in an Estate Plan
What if I Leave my Child Out of my Will? Parents have different reasons for disinheriting a child in their Last Will and Testament. Sometimes parents believe it is in ...
Estate Planning: Once Every 10 Years Is NOT ENOUGH!
Many of us understand the need for estate planning – for preparing a Will, A Health Care Directive, a Power of Attorney, and other related documents so that, when the ...
I’m a Beneficiary to an Estate. How Does the Process Work?
Your spouse or surviving parent has died.. She had assets – a home, a car, stocks and bonds, checking and savings accounts, and personal items. Now what happens? The ...
Financial Planning Mistakes: Protecting Your Special Needs Child
Parents of special needs children can get overwhelmed by their children’s day-to-day needs. In turn, some really important matters may be overlooked. The biggest mistake families make is delaying estate ...