Estate Planning should not be just about the transmission of wealth. Estate planning should be about the transmission of values. For many, this encompasses the transmission of religious beliefs. With a modicum of effort, every legal document and transaction can be reconciled with your religious views. Religious Considerations Relevant to Many According to many…
The stock market, interest rates, and other economic and political circumstances have experienced considerable volatility of late. How should your planning be modified to address volatility? Core Planning: It shouldn’t change. Whatever the markets and environment, volatile or calm, you need to have the key legal documents and planning in place. More significantly, since…
1031 Exchange: Everyone loves a tax deferred, like kind, or 1031 exchange because you can defer tax on swapping real estate instead of selling the property and paying capital gains tax. Well, the Treasury Inspector General for Tax Administration has noticed all that love and issued Audit Report 2007-30-172 “Like-Kind Exchanges Require Oversight to Ensure…
If you’re disappointed with your accountant, the two winners below are probably looking for new clients. Is this the guy you want advising you? This CPA reported $21,553 profits from accounting services, and $83,451 from gambling activity, all of which was offset by gambling losses. Instead of settling with the IRS he took the…