Posts Tagged ‘Beneficiary’

4 Reasons NOT to Wait for Your K-1

Four on dices

Subchapter S corporations (“Sub S”), partnerships, limited liability companies (“LLC’s”) and estates and trusts issue form K-1’s. This form documents the stockholders, partners, members or beneficiaries share of their profit or loss from the entity.  Don’t wait for this form to get started on your income tax return.

3 Reasons to Fund a 529 College Savings Plan


1) College is Expensive

According to the College Board the average tuition for a 4 year private education is $39,518 per year.  The average cost of a 4 year in- state public education is $17,860.  Either way, it’s a lot of money.

4 Reasons to do a Roth Conversion


A Roth Conversion is when funds are taken out of an IRA and converted into a Roth IRA. This conversion results in taxable income. Here are 4 Reasons to do a Roth Conversion:

How to Double Your Estate Tax Exclusion by Using a Credit Shelter Trust

For 2011 and 2012, the federal estate tax exclusion is $5 million.  For taxable estates in excess of $5 million, the highest federal tax rate is 35%.  If there are no changes to the law, the federal estate tax exclusion will decline back to $1 million in 2013 and the highest federal estate tax bracket will be 55%.

The Last Tax Cut

The Obama administration is exploring a temporary tax cut for employers on their payroll tax obligations.