Tag Archives: Tax Issues (Sentinel)
Structured settlements are a mechanism designed to make sure someone who is injured receives compensation in a way that will best assure their long-term quality of life. While they are complex to set up, once they are underway, they can ideally ensure that plaintiffs have the income they need to recover or adjust to their new way of life.
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It is sometimes hard for parents of newborns to imagine their babies as teenagers heading off to college. But to be best prepared, parents should plan for that day proactively, even before their baby arrives.
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Making it big at an early age is a dream that comes true for a small number of performers and their parents. Careful planning can boost the chances that these child stars will be among the even smaller group who remain successful into adulthood.
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Year-end tax planning was a fraught exercise in 2017 as tax reform made its way through Congress. Now that the legislation is the law of the land, the dust has begun to clear.
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Retirement planning can seem daunting enough for individuals. For small business owners, the pressure to choose a plan may seem even more overwhelming.
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Reaching age 100 is a milestone worthy of celebration. But for those who hold permanent life insurance policies, the birthday may bring an unwelcome gift from their insurer.
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Foreign buyers purchased a record $153 billion of U.S. real estate during the 12 months ending in March 2017, according to the National Association of Realtors®. As these buyers secured their pieces of the American dream, they may not have realized that Uncle Sam will want his share when it comes time to sell.
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While no tax reform is ever final until the president signs it into law, it seems increasingly likely that congressional Republicans will enact some significant tax changes soon. For taxpayers, all this uncertainty can be unnerving. After all, good tax planning happens with an eye to the future, and when a major shift in taxation is imminent, it can feel as if planning grinds to a halt. But taxpayers can consider the most likely of these changes now without succumbing to either panic or pressure.
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A grantor retained annuity trust, commonly called a GRAT, allows a grantor to pass assets to a beneficiary while minimizing his or her federal gift and estate tax burden. While GRATs do offer some undeniable advantages, like any estate planning technique, they are not right for everyone.
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Sometimes the money in your retirement account can do more good in the present than in the future. While you should never raid your 401(k) for a new flat-screen TV or a vacation, under certain circumstances borrowing from your retirement plan can serve as a responsible financial planning solution.
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