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Estate Taxes Planning

The Surprise Personal Estate Tax Trigger of Group Life Insurance

You have carefully planned your Will provisions for distribution of your estate at your death, thought about and designated your primary and contingent beneficiaries on the 401(k)'s, IRA's, and managed to build a comfortable investment portfolio. You aren't what you would consider ?really rich?, so Estate Taxes shouldn't be a worry for you or heirs, or should they? Maybe. One estate tax surprise that could be waiting for heirs has to do with what is referred to as ?incidents of... more

Managing Tax Deductions and Credits

5 Smart Ways To Spend Your Tax Refund

Not sure how to wisely spend your tax refund. Find out the best 5 Smart Ways To Spend Your Tax Refund and set yourself up for future financial success. By Paula Pant.   Congratulations, you've gotten a tax refund! Now, what you are going to next?   If the only answer that... more

Tax Planning Basics

Basic Facts about Taxes

The subject of income taxes is one that most people would prefer to ignore. However, since income taxes are a significant expense for most taxpayers, you should come to grips with some basics about taxes: Realize you can exert some degree of control over how much you pay in income taxes. While you do have to file and pay taxes every year, how much you pay depends on the tax strategies used. Discuss your tax situation with a tax professional, reviewing ways to help reduce your income tax... more

Tax Strategy and Planning Tips

The Danger Of Having No Strategy Or Ignoring Tax Efficient Investing Strategies

By Dr. Jeff Camarda EA, PhD Financial Planning, MSFS, CFA | REQUEST FREE CONSULTATION   This is without question the most fundamental mistake made by taxpayers and their tax advisors/preparers. For some reason, this industry is almost hopelessly re-active. Most clients and preparers don’t even look at the fact patterns until after the first of the year, when nearly all potential strategies are impotent, except the old “well, you could put some more into your IRA... more

Tax Concerns

Aspects of the Current Tax System that are Unfair

With all due respect, I don't know if it would be possible to cover all the inequity contained in the current Code if the esteemed Panel allowed 500 pages per comment. Therefore, I will offer a brief executive summary followed by a few concrete examples. I feel the current Code is unfair because: It doesn't treat all taxpayers equally (in effect, 'discriminates' against some); It does not make any allowances for regional cost-of-living differences; It does not fully consider taxpayers-... more