Category Archives: Tax Planning

5 Inherited IRA Mistakes That Will Destroy Your Inheritance


Let’s be honest. Stress doesn’t help us make smart financial decisions. I think it’s fair to say when we are inheriting money it’s often a busy, hectic and stressful time in our lives. Here are a few mistakes you want to avoid if you inherit an IRA or other retirement accounts from a loved one. Don’t let these five mistakes destroy your loved one’s legacy. Some retirement account mistakes can be fixed. On the other… Read More »

Identity Thieves Are Running The Same Scam This Tax Season – With A New Twist

Lauren Lyons Cole * The IRS warns taxpayers every year to beware of a long list of tax scams. * This year, identity thieves are up to the same tricks, but with a new twist. * Scammers file a fake tax return, deposit the fraudulent tax refund into your own bank account — and then call to collect. Tax scammers are a creative bunch. The IRS keeps track of the most common tax-related crimes, and… Read More »

Quick Tips You Should Use To Lower Your Tax Bill This Year

The countdown to tax day has begun. December 31, 2017 closed the books on the old year and started the 15 week clock to the federal tax filing day on April 17, 2018. Officially set for April 15 of every year, the IRS moved this year’s date to April 17, a Tuesday. April 15 this year is a Sunday, and April 16 is Emancipation Day, which is celebrated as a federal holiday. Here we lay… Read More »

How To Stop Worrying And Love Market Volatility

Karl Kaufman “Buy the ticket, take the ride,” wrote Hunter S. Thompson in his classic book Fear and Loathing in Las Vegas. Equity investors have been on a bumpy ride this month as volatility, lying dormant for what seems like an eternity, returned to the market in force. Wild swings in the Dow — thousand point drops followed by triple digit gains followed by drops and then gains — erased much of January’s returns and… Read More »

Trusts Have Changed: Time To Re-Engineer Your Estate Plan

by Ashlea Ebeling The federal tax overhaul just doubled the amount of wealth you can pass to heirs estate-tax-free–without using any trusts or planning gimmicks. Yet rather than looking for a new specialty, top trust lawyers are positively giddy about the opportunities created by the law President Trump signed three days before Christmas. The letter of the law allows slightly more than $11 million per person to be passed to kids or other noncharitable heirs… Read More »