Almost everyone needs life insurance. Whether its to pay off debts, ensure the family income and standard of living, make sure college can be paid for, leave a bequest to charity, provide liquidity for a business or real estate, or hedge against the return of estate taxes. Most of our clients need at least some life insurance. At the same time, two people who are outwardly similar may have very different needs, cash flows, risk tolerances, and so forth. For many people, the …
How To Eliminate Capital Gains Tax
The Capital Gains Elimination Trust is better known as a Charitable Remainder Trust. How this works is one would deposit highly appreciated assets into the CGET. The trust sells the assets and pays no capital gains tax. You then get to withdraw an income each year from the trust. The withdrawal can be earnings and principal.
Are Taxes Going Up? Will You Be In A Lower Or Higher Tax Bracket In Retirement?
For the past decade I have talked with clients every day about a system to distribute wealth for retirement tax-free. This system outlines exactly how to apply the Internal Revenue Code rules to your individual situation and find tax savings for you, which, in many cases, other advisors dont know exist. Look at it this way. While saving for retirement in an IRA account or 401(k) plan may have provided you with tax savings when you made those contributions, there comes a day …
Year End Investment Ideas and Tax Strategies
First thing Monday morning I’m going to march into my boss’s office and demand a pay cut so that I’ll be in a lower tax bracket next year. Profits are the holy grail of investing. Few people will admit just how infrequently they have experienced them or, conversely, just how frequently they have watched them disappear beneath the waves of a correction.