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tax planning

2016 Year-End Tax Planning Basics

December 19, 2016
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The window of opportunity for many tax-saving moves closes on December 31, so it’s important to evaluate your tax situation now, while there’s still time to affect your bottom line for the 2016 tax year. Timing is everything Consider any opportunities you have to defer income to 2017. For example, you may be able to…

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Estate, Gift, and GST Taxation and Trusts

January 11, 2016
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How are trusts treated for federal estate, gift, and GST tax purposes? A trust is created when you (the grantor) transfer property to a trustee for the benefit of a third person (the beneficiary). The act of transferring property to a trust is generally treated no differently than if it were transferred to an individual…

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Income Tax Key Numbers

January 6, 2016
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are…

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Key Numbers 2016

January 5, 2016
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2015 Year-End Tax Planning Basics

January 4, 2016
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The window of opportunity for many tax-saving moves closes on December 31, so it’s important to evaluate your tax situation now, while there’s still time to affect your bottom line for the 2015 tax year. Timing is everything Consider any opportunities you have to defer income to 2016. For example, you may be able to…

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Charitable Giving

December 22, 2015
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Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die. There are many ways to give to…

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Tax Planning Tips: Life Insurance

October 13, 2015

Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry. To differentiate between the two, a mix of complex rules and exceptions now governs the taxation of insurance products.…

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Key Numbers Projected for 2016

September 30, 2015
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Exemptions 2015 Projected for 2016 Personal and dependency $4,000 $4,050 Phaseout threshold (applies to itemized deductions as well) Married filing jointly $309,900 $311,300 Head of household $284,050 $285,350 Single $258,250 $259,400 Married filing separately $154,950 $155,650 Standard deduction 2015 Projected for 2016 Married filing jointly $12,600 $12,600 Head of household $9,250 $9,300 Single $6,300 $6,300…

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Tax Planning for the Self-Employed

July 29, 2015
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What is it? According to the IRS, you are self-employed if you carry on a trade or business as a sole proprietor, as an independent contractor, as a member of a partnership, or if you are otherwise in business for yourself. You can be a full-time employee and still have self-employment income from a side…

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Trusts

June 1, 2015
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What is a trust? A trust is a legal entity that is created when you transfer property to a trustee for the benefit of a third person. The trustee manages the property for the beneficiary in accordance with the terms and the instructions in the trust document. In legal terms, the trustee has legal ownership…

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