Mutual funds: Handle With Care at Year End
November 14, 2018 Knowledge Center
Mutual funds: Handle With Care at Year End

As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise capital gains Unlike with stocks, you can’t avoid capital gains on mutual funds simply by holding on to the shares. […]

Time for NQDC Plan Deferral Elections
November 7, 2018 Knowledge Center
Time for NQDC Plan Deferral Elections

If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future for services currently performed. The plans allow deferral of the income tax associated with the compensation. But to receive this attractive tax treatment, NQDC plans […]

Intellectual Property Requires Careful Estate Planning
November 2, 2018 Knowledge Center
Intellectual Property Requires Careful Estate Planning

If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treated differently from other property types. 2 estate planning questions For estate planning purposes, IP raises two […]

Starting Slow with a SIMPLE IRA
October 26, 2018 Knowledge Center
Starting Slow with a SIMPLE IRA

For certain employers, particularly small businesses, introducing a retirement plan for employees may seem like a daunting task. The company owner may feel that providing a full-blown 401(k) plan is his or her only choice, but that’s far from true. There are other options to consider that are relatively easier to administer and usually less […]

Consider All the Tax Consequences Before Making Gifts to Loved Ones
October 18, 2018 Knowledge Center
Consider All the Tax Consequences Before Making Gifts to Loved Ones

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce substantially different tax consequences. Multiple types of […]

Charitable IRA Rollovers May be Especially Beneficial in 2018
October 3, 2018 Knowledge Center
Charitable IRA Rollovers May be Especially Beneficial in 2018

If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially beneficial now because of Tax Cuts and Jobs Act (TCJA) changes that affect who can benefit from the […]

Retiring Abroad? Review Your Estate Plan Before Making The Move
October 1, 2018 Knowledge Center
Retiring Abroad? Review Your Estate Plan Before Making The Move

If you dream of spending your golden years in a tropical paradise, a culture-rich European city or another foreign locale, it’s important to understand the potential tax and estate planning implications. If you don’t, you could be hit with some unpleasant surprises. Avoiding the pitfalls If you’re a citizen of the United States, U.S. taxes […]

Is a Significant Portion of Your Wealth Concentrated in a Single Stock?
September 10, 2018 Knowledge Center
Is a Significant Portion of Your Wealth Concentrated in a Single Stock?

Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfer to the next generation. One of the best ways to reduce your investment risk is to diversify your holdings. But it’s not unusual for affluent people to end up with […]

2 Ways to Transfer a Family Business
September 2, 2018 Knowledge Center
2 Ways to Transfer a Family Business

For many people, a family-owned business is their primary source of wealth, so it’s critical to plan carefully for the transition of ownership from one generation to the next. The best approach depends on your particular circumstances. If your net worth is well within the estate tax exemption ($11.18 million for 2018), for example, you might […]

3 Reasons You Should Continue Making Lifetime Gifts
August 31, 2018 Knowledge Center
3 Reasons You Should Continue Making Lifetime Gifts

Now that the gift and estate tax exemption has reached a record high of $11.18 million (for 2018), it may seem that gifting assets to loved ones is less important than it was in previous years. However, lifetime gifts continue to provide significant benefits, whether your estate is taxable or not. Let’s examine three reasons why […]

Back-to-School Time Means a Tax Break for Teachers
August 29, 2018 Knowledge Center
Back-to-School Time Means a Tax Break for Teachers

When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their expenses. This educator expense deduction is especially important now due to some changes under the […]

Play Your Tax Cards Right With Gambling Wins And Losses
August 21, 2018 Knowledge Center
Play Your Tax Cards Right With Gambling Wins And Losses

If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact. Wins and taxable income You must report 100% of your gambling winnings as taxable income. The value of complimentary goodies […]