by angieduran | May 10, 2022 | Uncategorized
Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them. Medical expenses. If the individual qualifies as your “medical dependent,” and you itemize...
by angieduran | May 9, 2022 | Uncategorized
Gift splitting can be a valuable estate planning tool, allowing you and your spouse to maximize the amount of wealth you can transfer tax-free. But in some cases, it can have undesirable consequences, so be sure that you understand the implications before making an...
by angieduran | May 4, 2022 | Uncategorized
Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on...
by angieduran | May 3, 2022 | Uncategorized
In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the financial risks and rewards. However, you also should know that renting out your home carries...
by angieduran | Apr 29, 2022 | Uncategorized
Estate planning experts usually cite the need to include advance health care directives in a comprehensive estate plan. But there may be different legal names given to those directives, depending on one’s jurisdiction. In any event, regardless of what they’re called...
by angieduran | Apr 28, 2022 | Uncategorized
For decades, owners of small to midsize manufacturing companies have opted for the S corporation form of ownership, rather than being subject to the double taxation of C corporations. However, in recent years the limited liability company (LLC) has become another...
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