WILL THE ESTATE TAX DIE? Happy birthday estate tax! According Strategies for Playing Trump’s New Estate-Tax Plans in the Wall Street Journal, the American estate tax is 100 years old. And unfortunately, the estate tax has aged and changed, and some analysts and politicians want it dead. President-elect Donald Trump and other Republican legislators propose to end the estate tax. While only a small …
Retirement Tax Planning
A big decision for everyone saving and planning for retirement (in addition to basic estate planning, of course) is how to best take advantage of tax-deferred plans. A recent article on CNNMoney discussed this. If history repeats itself, tax rates will continue to change over the years. You can do little to control what the tax rates are. The article points out …
Three Tax Scams to Avoid
A recent article/video at money.cnn.com discussed three top tax scams, as follows: 1. Identity theft. To know whether your identity has been stolen for purposes of filing false tax returns, watch for a notice from the IRS that multiple returns have been filed using your tax identification number. If you find that more than one return has been filed, take action immediately. …