Blog Archives

The Last (Really BIG) Tax-Free Gift

Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate


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8 Reasons You Will Pay More Taxes in 2013…Guaranteed

  1) Increase in Ordinary Income Tax Rates The highest ordinary income tax rate is 35%.  This is scheduled to go up to 39.6%  


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3 Reasons Many Family Loans Turn into Grants

Have you made a loan to a child or grandchild? When making a loan, you have an expectation of getting paid back.  When a family loan turns into a grant, you’re not going to get paid back. Here are 3


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3 Easy Ways to Financially Help Your Children or Grandchildren

Do your children or grandchildren need some financial assistance? Here are 3 Easy Ways to help them:   1) Make a Loan Parents and grandparents can loan to their child or grandchild.  If this is the approach taken, a formal


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2012 Tax Benefits Increase Due to Inflation Adjustments

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:


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