Feb 9, 2021 | Personal Financial Planning, Real Estate, Tax News
Death doesn’t cancel a final responsibility: paying income taxes. A decedent’s executor must file one last income tax return for the deceased if the deceased’s income surpassed a certain threshold. And even if a return isn’t required, a return...
Feb 4, 2021 | Personal Financial Planning, Tax News
A good credit score can give you a lot of advantages, such as easing the way to car loans and mortgages. But how do you get your score high and keep it there? Keep track of credit utilization, which is the ratio of your outstanding credit card balances to your credit...
Feb 2, 2021 | Personal Financial Planning, Tax News
Of the various filing status options offered by the IRS, head of household is considered the most advantageous. Numerous rules apply to qualify, but if you do, it will mean a higher standard deduction and wider tax brackets compared to single filing status....
Jan 28, 2021 | Real Estate, Tax News
A trust can be a powerful estate-planning tool, but contrary to popular belief, trusts do not make all taxes disappear. The families who set them up still need to consider tax consequences. To start with, trust beneficiaries typically need to pay tax on the interest...
Jan 21, 2021 | Business Planning, Tax News
In simple terms, if you’re in the business of entering contracts to deliver goods or services to customers, you’re affected by the FASB’s ASC 606, which provides guidance in recognizing revenue. Although ASC 606 applies to a wide range of businesses,...
