Tax Planning

Tax and Estate Planning for 2022

Here are the major personal tax changes anticipated to be effective starting in 2022 (unless otherwise noted).

Qualified Charitable Contributions to Reduce Taxes on RMD’s

If you are charitably inclined, have an IRA, and are 70.5 or older, you should give the Qualified Charitable Distribution...

Will My Beneficiaries Have To Pay Taxes On My Life Insurance Policy?

Under current law, death benefit proceeds from life insurance are generally income tax-free. If you name a spouse, child, or other individual as a beneficiary to a life insurance policy you own, that person will not have to report any of the proceeds as income due to your death.

Estate Taxes After The Tax Cuts and Jobs Act

Proposals to repeal the federal estate and gift tax came about during the Presidential campaign and continued into 2017...

Tax-Loss Harvesting

Tax-loss selling is a common tax planning strategy. Harvesting a loss generates current tax savings. Even if a position...
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