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Use Charitable Bequests to Improve Your Estate Plan

I was recently making a presentation to a board of a local charity The topic planned giving I asked the board members a question to open their minds about charitable estate planning If you could only leave your money to the IRS and charity after your death what percentage would...
Posted On 19 Sep 2016

1040EZ, 1040A or 1040: Deciding Which Tax Form to Use

When you are ready to file your tax return for income you earned in 2016, you’ll have to pick from among three forms: the 1040, the 1040EZ or the 1040A. Anyone can decide to fill out Form 1040; the others have more-specific requirements. Here’s a quick breakdown: Form 1040E...
Posted On 14 Sep 2016

Save on Taxes By Being Proactive Instead of Reactive

During March many of us turn our attention to taxes After all the IRS expects to hear from us every year by the middle of the following month You may have your trusted accountant take care of the numbers for you or you may go the do it yourself route and use TurboTax or a similar...
Posted On 14 Sep 2016

How to Find a Lost Tax Form

I made after tax contributions to my traditional IRA years ago but I can t find my Form 8606 How do I avoid getting taxed on this money again D G SeattleI made after tax contributions to my traditional IRA years ago but I can t find my Form 8606 How do I avoid getting taxed on...
Posted On 14 Sep 2016

Community Property Tax Traps

What do you get when community property rules mix with retirement plan rules? As one widow recently discovered, the two sets of rules don’t always play nicely together. In a recent private letter ruling, the IRS said no to a surviving spouse who wanted to roll over her deceased...
Posted On 06 Sep 2016

Read My Lips: This Election May Have Tax Implications For Clients

Even if we could predict which candidate will win in November, there’s no way we could know if they would be able to enact their stated tax proposals. In spite of all this uncertainty, planners should inform clients of the very different proposals from Donald Trump and Hillary...
Posted On 06 Sep 2016

Kiplingers Tax Map: About Our Methodology

To create our rankings, we evaluated data and state tax policy details from a wide range of sources. These include Kiplinger Tax Map, 2016SLIDE SHOW 10 Most Tax Friendly StatesSLIDE SHOW 10 Least Tax Friendly StatesMAP State by State Source
Posted On 29 Aug 2016

The Least Tax-Friendly States in the U.S.

Lots of people fret about how much they have to pay Uncle Sam, but he’s not the only tax man you have to worry about Your state can squeeze you for plenty of taxes, too. Source
Posted On 29 Aug 2016

IRS Offers Reprieve For Taxpayers Who Miss IRA Rollover Deadline

The IRS unveiled a new procedure Wednesday to help people who accidentally miss the 60-day time limit for rolling over their retirement plan distributions into another qualified retirement plan or IRA. Eligible taxpayers can now qualify for a waiver of the 60-day time limit and...
Posted On 29 Aug 2016

The Most Tax-Friendly States in the U.S.

The Internet has given rise to a mobile workforce of telecommuters, independent contractors and entrepreneurs who can work where they want to live, instead of living where they have to work. But if you enjoy this kind Source
Posted On 29 Aug 2016