There is a big difference between tax avoidance (which is legit) and tax evasion (which is not). Although it can be frustrating at times, we are nevertheless called upon to render unto Caesar what belongs to Caesar. If you don’t like what you have to render, take it out in the voting booth, not on your tax returns.
Posts Tagged: Estate planning
Doing Well and Doing Good with Charitable Remainder Trusts
By creating a Charitable Remainder Trust (CRT) and selling assets low basis assets through it, a donor can reap dramatically increased income, get a nice income tax deduction, and benefit a favorite charity. Not a bad way to recover from an IRS-induced April 15 headache.
From Businessweek (April 26, 2011) “Growing Ranks of Non-Traditional Couples Face Uncertainty, Expensive Rules”
Taxes, estate planning, and other financial issues can be extremely complex for both gay and straight unmarried couples. The good news is that there are some helpful solutions to the issues.
From The New York Times (April 19, 2011) “Guidelines Allow Earlier Definition of Alzheimer’s”
For the first time in 27 years, the definition of Alzheimer’s disease is being recast in new medical guidelines that reflect fast-mounting evidence that it begins ravaging the brain years before the symptoms of dementia.
From The Associated Press (April 7, 2011) “Social Security Stopped Mailing Earning Statements”
Those yearly statements that Social Security mails out — here’s what you’d get if you retired at 62, at 66, at 70 — will soon stop arriving in your mailbox. It’s part of an effort to save money and steer more people to the agency’s website, which is worth checking out.
From SmartMoney (April 6, 2011) “More Costs, Fewer Benefits Likely for Medicare Seniors”
The House Republican plan for overhauling Medicare would fundamentally change how the federal government pays for health care. Starting a decade from now, many Americans will likely face higher out-of-pocket costs and greater limits to coverage.
Three Classic Estate Planning Blunders
Your estate plan is kind of like a parachute. You really want it to do what it is supposed to do when it is supposed to do it. Unfortunately, many estate plans don’t accomplish their intended purposes. This short article explains three primary reasons why many estate plans fail.
Hiring a Caregiver is Trickier than You Think
You might be surprised at what a Pandora’s Box you can encounter when you hire a caregiver. Getting a little expert guidance will go a long way toward avoiding financial and legal problems.
Easy come . . . easy go. Would my beneficiaries behave differently?
A sudden windfall can be a blessing or a curse. It pays to structure inheritances carefully so that the people we intend to bless will be blessed indeed.
Fundamental Estate Planning
For many of us, estate planning is an uncomfortable subject. That’s understandable, but there are adverse consequences to avoiding it.