With the many responsibilities that you must take care of as a small business owner, filing your taxes can become very time-consuming and overwhelming. There are many important steps that you must follow, requirements you must meet and documents you must find before you can complete your taxes. Keep yourself from getting too overwhelmed by […]
The April 17 tax deadline for 2018 is just around the corner. If you’ve left your tax prep until the last minute, chances are that you’re scrambling to make sure you have everything in order. While there is still enough time left to finish your taxes without error, it’s important that you gather the right […]
When everyday people think about whether a power of attorney makes sense for them, it’s often in the context of need. Consider which of these scenarios would constitute a “need” for you.
A: You are scheduled for a significant medical procedure.
B: You recently received a long-term illness diagnosis.
C: You plan on traveling while a home or […]
Medical directives or advance directives are documents that plan for your health care in the event that you are are mentally or physically incapacitated and cannot do it yourself. You must be suffering from a terminal condition for them to take effect. Because you have the right to determine end-of-life directives for yourself, you may […]
While a Last Will and Testament garners a great deal of respect from friends and loved ones, sometimes they do not accurately reflect that deceased’s wishes. When people are inadvertently left out or the document has stipulations that run contrary to the testator’s known desires, something may be amiss – you may find cause to […]
As the year comes to an end, now is the perfect time to get a head start on your business taxes. While personal taxes aren’t due until April 15, 2018, your business taxes must be completed and filed a full month earlier on March 15, 2018. If you’re want to make sure this tax season […]
In the US, one of the hottest recent topics in politics has centered around tax reform. With the IRS recently releasing several new tax changes for 2018 and the much talked about GOP tax reform, many Americans are worried about how the changes may affect how they file income taxes moving forward. However, if the […]
Most people spend their entire lives working to build a legacy that those they leave behind can enjoy once they’re gone. But in reality, that is often not enough. In addition to building your estate over time, you must also dedicate time to careful estate tax planning to make sure that much of your work […]
You’ve seen those types of cases where families battle over a deceased loved one’s will on courtroom TV but when it happens in real life, it can be an incredibly painful and stressful ordeal. Not only are families trying to grieve and rebuild their lives after a loss but they must now have those wounds […]
The amounts for exemptions and deductions usually change from year to year. Each type of tax savings has its own rules for who may or may not take the exemption or deduction. Exemptions and deductions reduce taxable income and take effect before Line 43, which is your taxable income. Tax credits are figured after Line […]