Topics
Topic:
Tax Planning
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Medicare Premiums for High-Income Earners
In 2021, some Medicare recipients will see their base premium increase due to two different laws that govern premiums. One law says that ordinary recipients can’t have their standard premium go up by more than the Social Security cost of living increase for that year. Since the cost of living increase in 2021 will be…
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Understanding Estate Exemption Rules
At the beginning of 2013, Congress made the estate tax exemption permanent at $5 million per person, the 2012 rate, but adjusted the amount for inflation each year going forward. The Tax Cuts and Jobs Act of 2017 further increased the exemption to $10 million with adjustments for inflation until 2025. After 2025, the exemption…
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Asset Sale vs. Stock Sale: How to Weigh the Options When Selling a Business
One of the main considerations when selling a business is whether to structure the deal as an asset sale or a stock sale. Owners may simply be thinking, “Does it matter as long as I get the highest sales price?” Well, there are plenty of considerations that can make a lower sales price more attractive.…
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529 ABLE Plans: Pros & Cons
529 ABLE plans are accounts that can be used to provide for a disabled beneficiary and can be a low-cost alternative to a special needs trust. A 529 ABLE plan is similar to an education 529 plan in that earnings on the contributions are tax-deferred and tax-free when withdrawn to pay for qualified expenses for…
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Capital Gains Tax
How does capital gains tax work? How might your tax bracket and additional lines of income be affected by it? In this video, David Garcia, CFP/CPA tells you what you need to know to make sure you’re not paying unnecessary fees come tax time.
