family-estate-planning

Tax Doctor

• Changes in the Secure 2.0 Act are a Mixed Bag for Consumers
  A few weeks ago a major piece of legislation was signed into law and in our qualified opinion, seniors win. Young people however, who are being told they win as well, may actually lose, due to basic human nature. For our seniors, the rules around Required Minimum Distributions from IRAs, also known as “RMDs” were […]
• Simple or Complex, Tax Planning is Important!
  Sometimes “Tax Planning” can be easy: “Open an IRA and it reduces your taxable income.” Other times it can be quite complex: “Cost segregation” on a building means hiring an engineering firm and having a structure broken down into its many components on paper, with each value separately listed; the frame, wiring, heating systems, etc., […]
• The Only Constant is Change (especially with taxation)
  We talk a lot about people not doing tax planning and not spending more time creating the tax outcomes they want. We urge people to understand that it’s within their own control and that tax outcomes can be legally and ethically manipulated.  We go on and on about the benefits.  BUT…we understand why it’s so […]