Family Office & High Net Worth Families Blog
IRS Reminds Taxpayers of Recent Changes to Retirement Plans
The IRS reminded taxpayers recently on March 16, 2021, about the rules for required minimum distributions (RMDs) from retirement accounts. A…
Continue ReadingEducate Yourself About the Revised Tax Benefits for Higher Education
Attending college is one of the biggest investments that parents and students ever make. If you or your child (or…
Continue ReadingWhen It Comes to Trusts, Silence May Be Golden
The idea of leaving a significant inheritance to your children or grandchildren may give you pause. Could the promise of…
Continue ReadingTax Implications of Holding Precious Metal Assets in Your IRA
Given today’s stock market valuations and historically low-interest rates on fixed-income investments, some IRA owners may be interested in moving…
Continue ReadingTaking Distributions From a Traditional IRA
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and…
Continue ReadingWhy It’s Important to Plan for Income Taxes as Part of Your Estate Plan
As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to…
Continue ReadingYear-End Tax Planning for Individuals
2020 has been quite a challenge, to say the least. The COVID-19 crisis brought massive unemployment, business closures, and an…
Continue ReadingScholarships: Tax Free or Taxable?
COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even…
Continue ReadingFamily Business Tax-Saving Moves In The Covid-19 Era
Many family businesses have been adversely affected by the novel coronavirus (COVID-19) pandemic. But there’s a silver lining: Proactive tax…
Continue ReadingTake Advantage of “Stepped Up Basis” When You Inherit Property
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for…
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