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How Your Clients Can Avoid Future Estate Squabbles

It seems that cautionary tales of family-estate disputes around high-profile figures are ubiquitous, from the trust fund feud surrounding former New Orleans Saints owner Tom Benson to the battle between the widow and children of deceased billionaire A. Alfred Taubman. Even in...
Posted On 21 Oct 2015

Employee vs. Contractor: What You Can Do If Youre Misclassified

It has become very common, especially among startups, for businesses to classify some workers as independent contractors rather than employees. Doing so can save companies a significant amount of money in payroll taxes. This may be great for business, but it can be costly for...
Posted On 19 Oct 2015

Make Last-Minute Moves to Reduce Taxes

Year-end planning to reduce tax owed next April 15 shouldn’t be left solely to certified public accountants. “I have developed a technique dubbed the ‘summit meeting,’” says Charles L. Nemes, senior vice president of investments at Nemes Rush Private Wealth Management of Raymond...
Posted On 19 Oct 2015

Love Trump or Hate Him, You Should Understand His Tax Plan

As the presidential campaign heats up, candidates are sharing their plans for changing the tax code. Since Donald Trump has made himself a viable contender — indeed, the Republican front-runner at this time — it’s worth taking a moment to examine his plan. First, Trump says he...
Posted On 16 Oct 2015

Building Your Money Team

As Thomas Stanley, author of The Millionaire Next Door , found in his research, the best wealth accumulators usually consult a team of advisors when making important financial decisions.  That’s good advice for you, as well. When building your Source
Posted On 11 Oct 2015

Adult Kids’ Key Documents

Recently my days as a legal guardian ended when my younger son Devon turned 18. I can’t believe it’s already been 19 months since my elder son Dominic reached adulthood. At that time, I reminded parents of the importance Source
Posted On 09 Oct 2015

Taking a Holistic View of Tax Strategies

If clients could tally up their total lifetime expenses, they would find that the Internal Revenue Service is the biggest beneficiary. “Given taxes are our No. 1 expense, every investment decision is a tax decision. Financial advisors who help mitigate tax expenses may be the...
Posted On 08 Oct 2015

Deductible Expenses: Above-the-Line, Itemized and Business

By Craig Smalley Learn more about Craig on NerdWallet’s  Ask an Advisor What expenses are tax-deductible? This is a common question among my clients. While the answer isn’t simple, it’s important to understand because it can significantly reduce your tax bill. Whether or not you...
Posted On 08 Oct 2015

The Best Way to Get a Tax Break for Child Care Costs

My employer is offering a dependent care flexible spending account during open enrollment for 2016, and I’m wondering if it’s better to sign up for this FSA or to take the child care tax credit. Or can I do Source
Posted On 06 Oct 2015

Donor-Advised Funds: Tax Break Now, Charity Later

I understand that a donor advised fund will give me more control over my charitable giving. How much money do I need to open one? Can I contribute stock to it, or do I have to write a check? Source
Posted On 01 Oct 2015