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Understanding Estate Administration and the Probate Process
You may have heard people say that it’s wise to avoid probate. But is it true and do you understand why? Probate is the court-supervised process for distributing the assets in your estate. It involves the proposed executor in the will petitioning the court to accept the will as a valid testamentary instrument. Probate and Non-Probate…
Read MoreConsider Tax Issues Before Moving Across State Lines
Tax can be a deciding factor if you’re contemplating a move to a different state. Here’s an overview of how to evaluate the tax picture in various states you might be considering. Investigate All State and Local TaxesEstate vs. Inheritance TaxWhat’s the difference between an estate tax and an inheritance tax? An estate tax is charged against your…
Read MoreCrypto: What Taxpayers Need to Know
Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that may not be well understood by everyone. Here’s an update on what you need to know about the federal tax issues if you exchange or receive…
Read MoreRAISING THE DEBT CEILING AND WHAT THAT MEANS FOR YOU
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising — the debt ceiling until 2025, after the next presidential election. The FRA also makes a variety of changes related to…
Read More2015 Tax Provisions Update
As has been the case the past few years, Congress decided to wait until late in the year to extend a series of temporary tax provisions that have fairly significant implications for individual taxpayers and businesses.
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