Taxation

(New) Reviewing a client’s tax return can always be an informative exercise to ensure you understand all sources of their income and their tax liabilities for the prior year. This is true for existing clients with whom you have been…

(New) Reviewing a client’s tax return can always be an informative exercise to ensure you understand all sources of their income and their tax liabilities for the prior year. This is true for existing clients with whom you have been…

Clients are often confused as to what documents to keep surrounding key areas of their lives. Records documenting things like tax documents, records of healthcare issues, certain legal documents, documentation surrounding certain assets and liabilities as well as other types…

(New/Updated) Calculating the tax impact of selling an investment can sometimes be complicated.  There are several questions to ask a client to ensure that the tax liability on the sale of an investment is calculated correctly. To help make the…

(Updated) There are lots of important numbers that advisors need to keep in mind.  In some cases, those numbers are annual limits and change each year.  Other times, the figures do not change, like the tables to calculate an RMD,…

The QBI deduction rules are complicated. One of the newest planning issues to consider deals with a possible QBI deduction-reduction effect on retirement plan contributions that could impact how small business owners save for retirement. To help make the conversation…

The provisional rules surrounding the Qualified Business Income (QBI) deduction can be complicated. There are several issues that must be considered. To help make the conversation easier, we have created the “Am I Eligible For A Qualified Business Income (QBI)…

In most cases, there is at least some kind of step-up in basis when property is inherited. But there are a few exceptions and some subtle distinctions that do occur. To help make the conversation easier, we have created the…

In most cases, there is no step-up in basis when property is gifted. But there are a few exceptions and those exceptions can be difficult to remember. To help make it easier, we have created the “Will I Receive A…

Planning around IRMAA surcharges has become more important as the surcharge amount has increased in recent years. While on the surface the concept is pretty straightforward, there are a few issues that can cause an unexpected wrinkle for the client.…