Tag Archives: taxes

When You May Not Be Able to Use a Financial Power of Attorney

Besides directing what happens to your finances when you pass away, a comprehensive estate plan also addresses the possibility that you could become unable to handle your financial affairs while you are still alive.

You may have signed a financial power of attorney (POA) that allows one or more people to act on your behalf if...
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Tax Basis: What You Need to Know and How It Can Impact Your Estate

“Tax basis” is a term used frequently in tax law. But for many, the term is unfamiliar and intimidating—perhaps something they feel is better left to a certified public accountant to worry about.

Nevertheless, a basic understanding of the concept can be very helpful for understanding important estate planning strategies used by your attorney and financial...
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Schedule K-1s are Due March 15th – Are You Ready?

Whether you’re a small LLC, an Electing Large Partnership LLC or an S-Corporation, March 15th marks the date you must file your 2019 tax returns (Form 1065, 1065-B, 1120S, or 2553, depending upon your business entity).

In addition to filing your taxes by this date, March 15th also marks the deadline for sending out Schedule K-1s...
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Four Easy to Avoid Mistakes People Make at Tax Time

It’s that time of year again: tax season.

No one enjoys doing their taxes, and that is likely why many of us leave this tedious task to the last…possible…moment. As Tax Day approaches, millions of Americans are likely scrambling to track down all of their important documents to meet the April 15 deadline. But as with...
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