When Should You Update Your Estate Plan?
An outdated estate plan is an ineffective estate plan, so you need to make sure you keep your plan up-to-date. There are certain key life moments when you need to revisit your plan. When you get [...]
What is a Qualified Income Trust?
If your income exceeds the amount to qualify for Medicaid long term care services, ($2,094.00 per month for 2012) a Qualified Income Trust allows you to become eligible by depositing income into [...]
Health Insurance Premium Tax Credit
Starting in 2014, individuals and families can take a new premium tax credit to help them afford health insurance coverage purchased through an Affordable Insurance Exchange. Exchanges will [...]
How to Avoid Problems as a Trustee
Being a trustee requires significant legal knowledge and if one does not perform their duties properly, a trustee may be personally liable. That’s why it’s important to have legal [...]
Business or Hobby? Answer Has Implications for Deductions
The Internal Revenue Service reminds taxpayers to follow appropriate guidelines when determining whether an activity is a business or a hobby, an activity not engaged in for profit. In order to [...]
Small Business Tax Workshops
The Virtual Small Business Workshop is available on CD and online to help new small business owners understand and meet their federal tax obligations. Small business workshops, designed to help [...]
Estate Tax
The Estate Tax is a tax on your right to transfer property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form [...]
