Tax Planning Archives - Page 2 of 3

Ideas for Post-Election Tax Planning

There has been a great deal of speculation about the post-election tax policy and when it will, if at all, be implemented. What we would like to do in this article is not just…

Direct payments of tuition and medical expenses can reduce future estate tax exposure

With the federal gift and estate tax exemption at $5.45 million in 2016, you may be less concerned about these taxes. But if you don’t take advantage of making tax-free direct payments of tuition…

Making an intrafamily loan “bona fide” to avoid gift tax

The simplest way to provide financial assistance to a child or other family member is to get out your checkbook and make a gift. But if you’re concerned about gift taxes, a loan may…

The tax dangers of providing for employees in your estate plan

If you’re an employer, you may think of your employees as family. But if you plan to provide for employees in your estate plan, watch out for unintended tax consequences. IRS rules Generally, money…

Ensure your high-cash-value life insurance policy fully benefits your loved ones

If you own a life insurance policy that has built up a sizable cash value, be aware that the death benefit will be included in your taxable estate. Depending on the size of the…

Achieve greater charitable giving flexibility with a nonqualified CRT

As the federal gift and estate tax exemption continues to climb, the number of people subject to estate taxes is shrinking. For those with charitable giving goals, this may increase interest in charitable remainder…

Do you need to file a gift tax return?

It’s tax-filing season, and the April 18 deadline to file a 2015 gift tax return is fast approaching. But do you need to file a return? The rules surrounding gift tax returns can be…

Follow IRS rules to avoid losing some of your 2015 charitable donation deductions

Sharing your estate with charity by making donations during your life not only benefits your favorite organizations and reduces your taxable estate, but also can reduce your income tax bill. However, if you don’t…

2015 Tax Savings Ideas for Restaurant Owners

Restaurant owners constantly need to evolve their concepts and update their facilities. Owners are aware of this fact and accept this as part of ongoing success. I wish the same could be said about…

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