Estate Taxes

Everybody wants to arrange their taxes so that they are advantageous and maximize their income as much as possible. While this is a natural and smart thing to do, many people accidentally cross the line and engage in practices that the Internal Revenue Service (IRS)...

Only a small minority of people are affected by federal estate tax. In fact, between December 2012 and March 2016, only .2 percent of Americans needed to pay federal taxes on their estate. However, state taxes are still applicable to many Americans today. Federal...

The current leaders of the House of Representatives are proposing some major tax cuts that could, if passed, affect both corporate and individual taxes. The goal is to simultaneously grow the economy by making more jobs possible and letting workers keep more of their...

It can be in your best interest to reduce the amount of taxes incurred by your estate. After all, who wouldn't want to pass as much of their estate along to their loved ones as possible? To help you out, these are 10 tips for reducing estate taxes: Marital transfers...

If you have recently inherited part of an estate, you may feel burdened with the prospect of filing your estate taxes for the first time. You might also be worried about the likelihood of an audit being done, and would like to be as prepared as possible. The good news...

When planning your estate or considering whether to create a will or a living trust, it is important to consider whether you will be entitled to tax exemptions. Tax exemptions allow you to be able to lower the income that can be taxed, therefore increasing your...

When creating a retirement plan or a living trust, you must ensure that you are ready to have your tax return examined at any time. It's very important that you are prepared for this and you have the information that the auditors will require readily available. This...

The Internal Revenue Service (IRS) occasionally runs audits on tax payers to make sure that they are processing all of their revenue and taxes properly. This can be a stressful process to go through, and can be avoided by completing a thorough and computer-processed...

One common complaint about estate taxes is that they simply target money that was already taxed at least once, as income. For instance, perhaps you are an only child and you have one surviving parent: your father. He earns money, pays taxes to the government when he...

While many people point to trusts as a way to shelter your assets from both taxes and creditors, the real truth is that overall estate planning and comprehensive financial strategy are the best way to reduce your tax burden. Estate planning goes hand-in-hand with...