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 ones can reduce the size of your taxable estate, within generous limits, without triggering any esta..........

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Maurice La Verdure
Maurice La Verdure

21 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

Taxes, Planning, Investment Advisory & Wealth Mangement, Education

Scholarships are usually tax free but may result in taxable income

If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary,..........

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Scott Henvey
Scott Henvey

3 September, 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

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

5 possible tax aspects of a parent moving into a nursing home

If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. Long-term medical care The costs of qualified lon..........

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Scott Henvey
Scott Henvey

12 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

Business Owners & Entrepreneurs, Taxes, Retirees, Business Owners, Divorcees and Widows, Investment Advisory & Wealth Mangement

A family bank professionalizes intrafamily lending

Because of the COVID-19 pandemic and the resulting economic turndown in some areas, you may have family members in need of financial support. If you’re interested in lending money to loved ones in nee..........

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Scott Henvey
Scott Henvey

6 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, Estate Planning, Planning, Retirees, Investment Advisory & Wealth Mangement

Can a broken trust be fixed?

An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to change it? Depending on applicable state law, you may have sev..........

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Scott Henvey
Scott Henvey

28 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

Executives, Tax Reform, Planning, Retirees, Text Preparation Planning, Business Owners, Divorcees and Widows, Investment Advisory & Wealth Mangement

Help guide your family with a road map for your estate plan

You’ve likely spent a lot of time working with your advisor to plan your estate. While documents such as your will, various trusts and a power of attorney are essential, consider adding a “road map” t..........

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Scott Henvey
Scott Henvey

22 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

Investing, Estate Planning, Tax Reform, Planning, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

Tax-favored ways to build up a college fund

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to mini..........

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Scott Henvey
Scott Henvey

17 June, 2021

Planning, Text Preparation Planning, Accounting Services, Investment Advisory & Wealth Mangement

Sec. 529 vs. Roth IRA plans - Choosing a college savings tool

Many people assume that a Section 529 plan is the ideal college savings tool. But the Roth IRA can also help parents save for college expenses. This article reviews the strengths of each. For example,..........

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L&H CPAs
L&H CPAs

14 July, 2020

Investment Advisory & Wealth Mangement

How to make market volatility your friend

Maintaining positions in a well-diversified portfolio is the best response to market volatility. But there may be something else investors can do: Use falling prices as an investment opportunity. As t..........

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L&H CPAs
L&H CPAs

14 July, 2020

Business Owners & Entrepreneurs, Business Owners, Business Consulting, Investment Advisory & Wealth Mangement

Naming a trustee - It's one of the most important decisoins of your life

One of the major decisions that need to be made when establishing a trust is who will act as trustee. This article talks about the responsibilities of the position as well as the qualities (such as pr..........

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L&H CPAs
L&H CPAs

14 July, 2020

Retirement Planning, Traditional IRA, Retirees, Investment Advisory & Wealth Mangement

Planning for a tax-efficient retirement

As this article explains, tax planning for retirement is critical to ensuring that savings last. Retirees are urged to estimate cash needs, coordinate Social Security benefits with other income source..........

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L&H CPAs
L&H CPAs

14 July, 2020

Accounting Services, Investment Advisory & Wealth Mangement

Substantiating charitable gifts Do you know the rules

Recently, the IRS issued charitable contribution substantiation regulations. To avoid costly mistakes, it’s important for philanthropic individuals to familiarize themselves with the rules. This artic..........

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L&H CPAs
L&H CPAs

14 July, 2020

Removing money from a qualified plan, Accounting Services, Investment Advisory & Wealth Mangement

3 options if your term life insurance is expiring

A term life insurance policy can be a powerful, cost-effective tool for helping families meet their financial obligations following the death of a spouse or parent. But what happens when the term ends..........

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L&H CPAs
L&H CPAs

14 July, 2020

Accounting Services, Investment Advisory & Wealth Mangement

Intrafamily loans offer family value

When children or other family members need financial assistance, it may be tempting to simply hand them a check. But as this short article argues, lending — rather than giving — money to loved ones of..........

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L&H CPAs
L&H CPAs

14 July, 2020

Accounting Services, Business Owners, Business Consulting, Investment Advisory & Wealth Mangement

Every business owner needs an exit strategy

Business owners must monitor the cash flow and tax positions of their companies, while also looking out for their own personal financial futures. This article looks at how to lay the foundation for a ..........

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L&H CPAs
L&H CPAs

14 July, 2020

Accounting Services, Business Owners, Investment Advisory & Wealth Mangement

Document storage solutions - Should you use an electronic filing cabinet

Traditionally, important financial and tax documents have been stored in paper form in a filing cabinet, fireproof safe or bank safe deposit box. But in the digital age, electronic document storage — ..........

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L&H CPAs
L&H CPAs

14 July, 2020

Investing, Investment Advisory & Wealth Mangement

Raising financially responsible kids

Helping kids understand money when they’re young will help them develop sound financial habits that pay off when they’re adults. Discussions about money can start early, but need to be tailored to the..........

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L&H CPAs
L&H CPAs

14 July, 2020

Investing, Investment Advisory & Wealth Mangement

Is silence golden - The good and the bad of keeping your trust a secret

It’s common for parents to set aside money or other assets in trust for their children or grandchildren. At the same time, many parents agonize over the impact this wealth may have on their heirs. One..........

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L&H CPAs
L&H CPAs

14 July, 2020