How can taxpayers make the most out of their charitable giving? Here is a great hack for the charitably inclined: If you have appreciated assets and plan to make a charitable contribution before the end of the year, you should consider donating that highly appreciated asset to your Donor Advised Fund (DAF) or your favorite …
How can taxpayers make the most out of their charitable giving? Read More »
Imagine if you set yourself up for the perfect stress- and worry-free retirement. What if you could have financial freedom and retire at any age? What would that look like and what would you do? Financially, what would the perfect retirement look like for you? Possibly a stream of tax-free income that lasts your entire …
I received the following question from the publisher of Aegist and here was my answer: My favorite uncle from Beverly Hills passed away and left me his real estate and other assets. Are there taxes due and who pays them? First, I am sorry to hear about your loss. From a financial standpoint, your uncle …
If you’re in your late 70s or 80s or in poor health and considering surrendering or lapsing your life insurance policy, there is an alternative that could net you tens or hundreds of thousands of dollars. Over 90% of life insurance policies will lapse due to a lack of awareness about the life settlement market …
Please don’t take this as a commentary on who should be the next President. This is a commentary on the fact that you should consider reviewing your tax plan and if we have a Biden Presidency and a Democrat lead Congress and Senate, the chances are pretty certain that our tax code will once again …
What does a Biden Presidency mean for your Income Taxes? Read More »
I am now in my early 50’s. I know you thought I was younger, but earlier this year, I pulled the trigger. After researching the best policies for my clients for years, my wife and I finally protected our assets with a Long Term Care policy. The policy we purchased is Asset-Based Long Term Care. …
Have you sold your home, a mutual fund, a stock, a business, or any other asset for a gain? If so, you probably paid Uncle Sam a hefty sum for the benefit of your successful sale. Built into the tax code are various methods to avoid current taxation on your gains. Today I will focus on …
Top 7 Ways to Mitigate Capital Gains Taxes Upon Sale Read More »
Today I will focus on three ways to grow your money tax-deferred and distribute your money tax-free. Tax-deferred growth and tax-free distributions are my favorite ways to build wealth over the long term, as tax rates will inevitably go up in the future. Too many CPAs and financial advisors are still using mantras from 30 years ago, recommending their clients …
Unique Tax Mitigation Strategies your Father didn’t tell you about Read More »
“You have insurance on your pets, your cell phone, your diamond ring, but not yourself? As a stay-at-home parent, you should only buy life insurance on yourself if you love your children.” – Jeff Gurman Many families wonder if stay-at-home parents need a life insurance policy. As a stay-at-home parent, you may think you don’t need an …
Should a stay at home parent have life insurance? Read More »
“Your largest asset is most likely your ability to earn income!” – Jeff Gurman. Is your paycheck protected against losses, like your autos and homes? Something as mundane as tripping on a curb, tearing a muscle working out, or a mild concussion could put you out of work for weeks or could limit your time …