Taxes, Tax Reform, Planning

The tax score of winning

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re lucky enough to win, be aware that tax consequences go along with your good fortune. Review the tax rul..........

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Maurice La Verdure
Maurice La Verdure

5 October, 2021

Maurice La Verdure

Maurice La Verdure
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Recent Posts

Taxes, Tax Reform, Planning

The tax score of winning

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re luc..........

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Maurice La Verdure
Maurice La Verdure

5 October, 2021

Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles classified ..........

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Maurice La Verdure
Maurice La Verdure

27 September, 2021

Taxes, Tax Reform, Planning, Divorcees and Widows, Gift Tax

Planning for year-end gifts with the gift tax annual exclusion

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ..........

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Maurice La Verdure
Maurice La Verdure

21 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Planning, Business Owners, smallbusiness

Tax breaks to consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to consider. 1. Claim bonus deprecia..........

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Maurice La Verdure
Maurice La Verdure

14 September, 2021

Retirement Planning, Taxes, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement, Education

Estate planning in a socially distanced environment

As many states continue to struggle with the current surge in COVID-19 cases, the “new normal” demands continued social distancing in many areas of life. What does this mean for estate planning? Clear..........

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Maurice La Verdure
Maurice La Verdure

7 September, 2021

Retirement Planning, Taxes, Estate Planning, Planning, Retirees, Divorcees and Widows

Is recording my will signing on video a good idea?

Some people make video recordings of their will signings in an effort to create evidence that they possess the requisite testamentary capacity. For some, this strategy may help stave off a will contes..........

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Maurice La Verdure
Maurice La Verdure

1 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Business Owners, smallbusiness, Tax Audit

Does your employer provide life insurance? See the tax consequences

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the coverage is higher than $50,000, there may be undesirable i..........

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Maurice La Verdure
Maurice La Verdure

26 August, 2021

Business Owners & Entrepreneurs, Retirement Planning, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

With a self-directed IRA, you choose your own investments

If you’re the type who would rather order ala carte rather than a set entrée, you might prefer a “self-directed” IRA. With this option, you may be able to amp up the benefits of a traditional or Roth ..........

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Maurice La Verdure
Maurice La Verdure

20 August, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement

Possible tax consequences of guaranteeing a loan to your corporation

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aw..........

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Maurice La Verdure
Maurice La Verdure

18 August, 2021

Business Owners & Entrepreneurs, Taxes, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

Is an LLC the right choice for your small business?

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know y..........

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Maurice La Verdure
Maurice La Verdure

10 August, 2021

Retirement Planning, Taxes, Estate Planning, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement

Understanding the current "step-up" basis rules

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The current rules Under the current fair market value basis rules (a..........

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Maurice La Verdure
Maurice La Verdure

30 July, 2021

Taxes, Executives, Tax Reform, Business Owners, Business Consulting, Tax Audit

Deductibility of corporate expenses covered by officers/shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation un..........

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Maurice La Verdure
Maurice La Verdure

26 July, 2021

Retirement Planning, Taxes, Estate Planning, Tax Reform, Planning, Retirees, Business Owners, Divorcees and Widows, Investment Advisory & Wealth Mangement

Does your estate plan address your grandchildren in a fair manner?

Many people, when planning their estates, simply divide their assets equally among their children. But “equal” may not necessarily mean “fair.” It all depends on your family’s circumstances. Specifica..........

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Maurice La Verdure
Maurice La Verdure

14 July, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Hiring your minor children this summer? Reap tax and nontax benefits

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with you, save for college a..........

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Maurice La Verdure
Maurice La Verdure

8 July, 2021

Business Owners & Entrepreneurs, Executives, Planning, Business Owners, Business Consulting, smallbusiness

Are you holding a joint title to property with a family member?

Owning assets jointly with one or more of your children or other heirs is a common estate planning “shortcut.” But like many shortcuts, it may produce unintended — and costly — consequences. Joint own..........

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Maurice La Verdure
Maurice La Verdure

1 July, 2021

Taxes, Executives, Tax Reform, Planning, Business Owners, smallbusiness

Traveling for business again? What can you deduct?

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel with..........

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Maurice La Verdure
Maurice La Verdure

24 June, 2021

Business Owners & Entrepreneurs, Estate Planning, Executives, Planning

Estate planning in the FAST lane

Traditionally, estate planning has focused on more technical objectives, such as minimizing gift and estate taxes and protecting assets against creditors’ claims or lawsuits. These goals are still imp..........

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Maurice La Verdure
Maurice La Verdure

18 June, 2021

Retirement Planning, Taxes, Estate Planning, Executives, Retirees, Investment Advisory & Wealth Mangement

Retiring soon? 4 tax issues you may face

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues ..........

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Maurice La Verdure
Maurice La Verdure

17 June, 2021

Estate Planning, Executives, Planning, Retirees

Members of the sandwich generation find themselves in a unique situation

The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. As a result, estate planning — w..........

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Maurice La Verdure
Maurice La Verdure

17 June, 2021

Business Owners & Entrepreneurs, Tax Reform, Business Owners, smallbusiness

Ensure the IRS doesn’t reclassify independent contractors as employees

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies ..........

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Maurice La Verdure
Maurice La Verdure

18 May, 2021

Business Owners & Entrepreneurs, Retirement Planning, Taxes, Estate Planning, Planning, Retirees

4 Reasons to Revisit Your Powers of Attorney

Although much of estate planning deals with what happens after you die, it’s equally important to have a plan for making critical financial or medical decisions if you’re unable to make them for yours..........

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Maurice La Verdure
Maurice La Verdure

12 May, 2021

Business Owners & Entrepreneurs, Taxes, Tax Reform, Planning

Unemployed last year? Buying health insurance this year?

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here ar..........

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Maurice La Verdure
Maurice La Verdure

27 April, 2021

Business Owners & Entrepreneurs, Business Owners

Need a new business vehicle? Consider a heavy SUV

Are you considering buying or replacing a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit from lucrative tax rules for those veh..........

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Maurice La Verdure
Maurice La Verdure

30 March, 2021

Taxes

New law tax break may make child care less expensive

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the care of ..........

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Maurice La Verdure
Maurice La Verdure

29 March, 2021

Business highlights in the new American Rescue Plan Act

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are also several tax bre..........

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Maurice La Verdure
Maurice La Verdure

15 March, 2021

Estate Planning

Not disclosing all of your assets helps no one

People sometimes keep assets hidden without letting their families know about their location or even that they exist. Similarly, they may have life insurance policies no one knows about. Using a ficti..........

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Maurice La Verdure
Maurice La Verdure

15 March, 2021

Estate Planning

Now or later: When’s the right time to transfer your wealth?

To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adjusted $11.7 million in 2021 — is viewed by some pe..........

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Maurice La Verdure
Maurice La Verdure

12 March, 2021

Business Owners & Entrepreneurs, Business Owners

Launching a small business? Here are some tax considerations

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. Here a..........

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Maurice La Verdure
Maurice La Verdure

11 March, 2021

Estate Planning

Creating an education legacy using a family education trust

For many people, an important goal of estate planning is to leave a legacy for their children, grandchildren and future generations. And what better way to do that than to help provide for their educa..........

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Maurice La Verdure
Maurice La Verdure

4 March, 2021

Business Owners & Entrepreneurs, Business Owners

Work Opportunity Tax Credit extended through 2025

Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a tax credit known as th..........

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Maurice La Verdure
Maurice La Verdure

2 March, 2021

Business Owners & Entrepreneurs, Business Owners

What are the tax implications of buying or selling a business?

Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If you are considering buying..........

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Maurice La Verdure
Maurice La Verdure

22 February, 2021

Business Owners & Entrepreneurs, Business Owners

Many tax amounts affecting businesses have increased for 2021

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business me..........

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Maurice La Verdure
Maurice La Verdure

9 February, 2021

Estate Planning

Getting sentimental over your tangible personal property

As a formal estate planning term, “tangible personal property” likely won’t elicit much emotion from you or your loved ones. However, the items that make up tangible personal property, such as jewelry..........

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Maurice La Verdure
Maurice La Verdure

29 January, 2021

Business Owners & Entrepreneurs, Business Owners

The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After sending the forms to ..........

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Maurice La Verdure
Maurice La Verdure

26 January, 2021

Business Owners & Entrepreneurs, Business Owners

PPP loans have reopened: Let’s review the tax consequences

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (..........

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Maurice La Verdure
Maurice La Verdure

21 January, 2021

Estate Planning

Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses

Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes. But if you have children or grandchildren in college or with medical expens..........

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Maurice La Verdure
Maurice La Verdure

19 January, 2021

Business Owners & Entrepreneurs, Business Owners

New law doubles business meal deductions and makes favorable PPP loan changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are s..........

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Maurice La Verdure
Maurice La Verdure

13 January, 2021

Taxes

The COVID-19 relief law: What’s in it for you?

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, which ..........

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Maurice La Verdure
Maurice La Verdure

12 January, 2021

Estate Planning

Make your legacy last by educating your children about wealth management

If you’ve worked to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money ..........

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Maurice La Verdure
Maurice La Verdure

4 January, 2021

Taxes

Your taxpayer filing status: You may be eligible to use more than one

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one..........

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Maurice La Verdure
Maurice La Verdure

31 December, 2020

Taxes

The next estimated tax deadline is January 15 if you have to make a payment

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estima..........

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Maurice La Verdure
Maurice La Verdure

22 December, 2020

Estate Planning

With a flick of the switch: Build an on-off mechanism into your estate plan

When planning your estate, it’s critical to balance estate tax planning and income tax planning. The rub is that, currently, strategies for reducing estate taxes generally focus on removing assets fro..........

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Maurice La Verdure
Maurice La Verdure

18 December, 2020

Business Owners & Entrepreneurs, Business Owners

Drive more savings to your business with the heavy SUV tax break

Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions Cars are subject to more restrictive tax depreciation ru..........

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Maurice La Verdure
Maurice La Verdure

15 December, 2020

Taxes

Maximize your 401(k) plan to save for retirement

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build a s..........

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Maurice La Verdure
Maurice La Verdure

8 December, 2020

Estate Planning

Review your estate plan in light of a new presidential administration

As President-elect Joe Biden moves forward with the transition and prepares for the inauguration next month, you may be wondering how the federal estate tax may be affected. During the campaign, Biden..........

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Maurice La Verdure
Maurice La Verdure

7 December, 2020

Estate Planning

Avoid these four estate planning deadly sins

According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of these from time to time, other types of “sins” can be..........

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Maurice La Verdure
Maurice La Verdure

1 December, 2020

Taxes

The importance of S corporation basis and distribution elections

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C ..........

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Maurice La Verdure
Maurice La Verdure

24 November, 2020

Taxes

Taking distributions from a traditional IRA

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these t..........

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Maurice La Verdure
Maurice La Verdure

17 November, 2020

Estate Planning

Name the right person as executor to help ensure your planning objectives are carried through

The executor’s role is critical to the administration of your estate and the achievement of your estate planning objectives. So your first instinct may be to name a trusted family member as executor. ..........

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Maurice La Verdure
Maurice La Verdure

16 November, 2020

Estate Planning

Estate planning and your art collection

If you’re an art collector, it’s critical for your estate plan to address your collection separately from other types of assets. Investments in artwork may be motivated in part by potential financial ..........

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Maurice La Verdure
Maurice La Verdure

5 November, 2020

Business Owners & Entrepreneurs, Business Owners

Tax responsibilities if your business is closing amid the pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax obligation..........

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Maurice La Verdure
Maurice La Verdure

3 November, 2020

Taxes

Divorcing couples should understand these 4 tax issues

When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find divorce to be an even more taxing experience. Several..........

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Maurice La Verdure
Maurice La Verdure

28 October, 2020

Business Owners & Entrepreneurs, Business Owners

New business? It’s a good time to start a retirement plan

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types of qualified plans that are eligible for these tax ad..........

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Maurice La Verdure
Maurice La Verdure

27 October, 2020

Taxes

Buying and selling mutual fund shares: Avoid these tax pitfalls

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales  You may already have made taxable “sales” of part of your mutual fund investme..........

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Maurice La Verdure
Maurice La Verdure

20 October, 2020

Taxes

What tax records can you throw away?

October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to July 15 due to the COVID-19 pandemic.) If you’..........

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Maurice La Verdure
Maurice La Verdure

15 October, 2020

Estate Planning

Is a noncharitable purpose trust right for you?

There are two trust types that don’t require one or more human beneficiaries: charitable trusts and noncharitable purpose (NCP) trusts. A charitable trust is the more common of the two, but an NCP tru..........

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Maurice La Verdure
Maurice La Verdure

8 October, 2020

Taxes

Why it’s important to plan for income taxes as part of your estate plan

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in est..........

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Maurice La Verdure
Maurice La Verdure

30 September, 2020

Taxes

Can investors who manage their own portfolios deduct related expenses?

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are they tax deductible? Under the Tax Cut and Jobs Act, t..........

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Maurice La Verdure
Maurice La Verdure

23 September, 2020

Estate Planning

A health care power of attorney is an essential element of any estate plan

What happens if illness, injury or age-related dementia renders you unable to make decisions or communicate your wishes regarding your health care or financial affairs? Unless your estate plan address..........

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Maurice La Verdure
Maurice La Verdure

17 September, 2020

Business Owners & Entrepreneurs, Business Owners

2020 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional d..........

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Maurice La Verdure
Maurice La Verdure

14 September, 2020

Business Owners & Entrepreneurs, Business Owners

Employers have questions and concerns about deferring employees’ Social Security taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page ..........

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Maurice La Verdure
Maurice La Verdure

9 September, 2020

Estate Planning

Making lifetime gifts continues to be a smart estate planning strategy

With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates aren’t taxable. But that doesn’t mean making lifetime gifts isn’t without significant benefits..........

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Maurice La Verdure
Maurice La Verdure

4 September, 2020

Business Owners & Entrepreneurs, Business Owners

5 key points about bonus depreciation

You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it comes to this powerful ta..........

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Maurice La Verdure
Maurice La Verdure

31 August, 2020

Taxes

Will You Have to Pay Tax on Your Social Security Benefits?

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay? It depends on your other income. If you’re taxed, be..........

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Maurice La Verdure
Maurice La Verdure

31 August, 2020

Estate Planning, Divorcees and Widows

Divorcing? Revise your estate plan

If you’re going through a divorce, you probably feel a little overwhelmed by all the legal and financial items you must attend to before the marriage termination is final. These tasks can be difficult..........

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Maurice La Verdure
Maurice La Verdure

20 August, 2020

Business Owners & Entrepreneurs, Business Owners

The President’s action to defer payroll taxes: What does it mean for your business?

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an..........

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Maurice La Verdure
Maurice La Verdure

17 August, 2020

Taxes

More parents may owe “nanny tax” this year, due to COVID-19

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. Keep in mind that t..........

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Maurice La Verdure
Maurice La Verdure

12 August, 2020

Estate Planning

Because of COVID-19, college-aged children need a basic estate plan

It’s August, and that means it’s time to get ready to go back to school for many students. If your child recently graduated from high school and is heading to college in the next few weeks, besides as..........

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Maurice La Verdure
Maurice La Verdure

6 August, 2020

Business Owners & Entrepreneurs, Business Owners

File cash transaction reports for your business

Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions. Filing requirements Each person engaged in a trade or..........

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Maurice La Verdure
Maurice La Verdure

4 August, 2020

Taxes

Are scholarships tax-free or taxable?

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills. ..........

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Maurice La Verdure
Maurice La Verdure

28 July, 2020

Estate Planning

Fortify your assets against creditors with a trust

You may think of trusts as estate planning tools — vehicles for reducing taxes after your death. While trusts can certainly fill that role, they’re also useful for protecting assets, both now and late..........

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Maurice La Verdure
Maurice La Verdure

27 July, 2020

Taxes

Conduct a “paycheck checkup” to make sure your withholding is adequate

Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want to do that..........

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Maurice La Verdure
Maurice La Verdure

22 July, 2020

Estate Planning

Zeros and ones: Estate planning for your digital assets and accounts

Nearly everyone owns at least some digital assets, such as online bank and brokerage accounts, bill-paying services, cloud-based document storage, digital music collections, social media accounts, and..........

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Maurice La Verdure
Maurice La Verdure

17 July, 2020

Business Owners & Entrepreneurs, Business Owners

Steer clear of the Trust Fund Recovery Penalty

If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery Penalty” because it applies to the Social Security and income taxes re..........

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Maurice La Verdure
Maurice La Verdure

9 July, 2020

Taxes

Some people are required to return Economic Impact Payments that were sent erroneously

The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new report. These are the payments being sent to eligible individuals in re..........

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Maurice La Verdure
Maurice La Verdure

1 July, 2020

Estate Planning

Avoid pitfalls when splitting gifts with your spouse

The annual gift tax exclusion allows you to transfer up to $15,000 per beneficiary gift-tax-free for 2020, without tapping your lifetime gift and estate tax exemption. And you can double the exclusion..........

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Maurice La Verdure
Maurice La Verdure

26 June, 2020

Business Owners & Entrepreneurs, Business Owners

Launching a business? How to treat start-up expenses on your tax return

While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being launch..........

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Maurice La Verdure
Maurice La Verdure

22 June, 2020

Retirement Planning, Retirees

Seniors: Can you deduct Medicare premiums?

If you’re age 65 and older, and you have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially if you’re marri..........

Read More
Maurice La Verdure
Maurice La Verdure

14 July, 2020

Retirement Planning, Traditional IRA

A nonworking spouse can still have an IRA

It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents..........

Read More
Maurice La Verdure
Maurice La Verdure

14 July, 2020

Business Owners & Entrepreneurs, Business Owners

IRS releases 2021 amounts for Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs).  HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualifie..........

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Maurice La Verdure
Maurice La Verdure

14 July, 2020