Estate Planning Tips
If both spouses have compensation, each can set up a separate IRA. Spouses cannot participate in the same IRA. If Married Filing Jointly, and one spouse’s compensation is less than the contribution limit, the lower-income spouse can use the compensation of the other spouse to qualify.
Read MoreRevenue officers carry two forms of official identification. Both forms of Identification have serial numbers – and you can ask to see both. There are various reasons the IRS may telephone or visit a taxpayer at home during an audit, but at that point the taxpayer would be well aware of the audit.
Read MoreIf an IRS representative visits you, he or she will always provide two forms of official credentials called a pocket commission and a HSPD-12 card. HSPD-12 is a government-wide standard for secure and reliable forms of identification for Federal employees and contractors. You have the right to see these credentials.
Read MoreIf an IRS representative visits you, he or she will always provide two forms of official credentials called a pocket commission and a HSPD-12 card. HSPD-12 is a government-wide standard for secure and reliable forms of identification for Federal employees and contractors. You have the right to see these credentials.
Read MoreAccording to the Tax Policy Center, four out of every five taxpayers can expect a reduction, but for many lower income taxpayers, that tax cut will be so little it may hardly even be noticed. And if you live in a high-tax state or you rely heavily on deductions, you are likely to see a tax increase.
Read MoreOne of the greatest gifts you can leave your survivors is an organized estate. The time you spend now will help your loved ones to cope later, and also will ensure your wishes will be carried out. Here is a simplified checklist to help you get started on organizing your estate, and depending on your individual situation, you might discover other items to be addressed. It's a good idea to discuss your plans with your loved ones and the executor of your will. You'll also want to consult with your legal, financial and tax advisors.
Read MoreIf you asked ten different couples what their estate planning objectives are, you would probably receive ten different answers. However, upon deeper probing, you would discover that most married couples share the same basic estate planning objectives. Knowing these objectives help both the couple and their estate planner determine what might be the best way to structure their estate plan.
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