The IRS has released income tax brackets and standard deductions for 2024. To plan ahead for what you’ll owe on your taxable income, here are the numbers. Photo by Tara Winstead: https://www.pexels.com/photo/folder-and-calculator-on-white-table-7111512/ Highlights The Details Per CNBC, here are the marginal tax brackets for 2024 Marginal tax brackets for tax year 2024 Married filing jointly […]
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How familiar are you with the term estate tax? Did you know that there can be both federal and state or inheritance estate tax in the US? Let’s look at what it means and how you may plan accordingly. The IRS defines estate tax as “the estate tax is a tax on your right to
The estate planning process can seem ominous, confusing and for many, we stop here. Learning how to prepare for estate planning from a layperson’s perspective can help unravel the process and provide you with information to proceed with more confidence. Today in America, approximately 60% of Americans have not created a will/trust. What does this
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Tuesday 17 April, 2018 is the deadline for individuals filing 2017 federal taxes! Did you know there are different due dates for specific individuals and corporations that do not apply to everyone? TaxAct.com provides a reference library outlining Federal Due Dates by month by taxpayer type and provides state specific filing requirements. Check it out
Tax Filing References Available Read More »
We are one month away from individuals filing 2017 taxes and today we’ll discuss taxes for the longer term. Yes, in 2018 the new provisions passed by Congress in December, 2017 will take effect. Coverage of these provisions has highlighted the impact to companies and businesses. Today, we will consider the impact of these new
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Estate planning allows us to avoid legal questions that arise when anyone is incapacitated or dies. Questions about finances, property, guardianship for minors, tax implications of selling property, business transfers, medical/health care considerations, funeral plans and more. Decisions made and implemented today may be modified over time, allowing flexibility over time for changes you desire. Whether
Taxes are in the news of late. There is one particular tax that gets a lot of press – the “estate tax”. Let’s look at the facts about estate taxes today – what in the heck is the “estate tax”? Small business owners and families alike face a variety of issues throughout life. Taxes come
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