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Tag: estate-tax

  • Employee Retention Tax Credit: A Guide for High School Students

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    – Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. – Winning a money judgment in a legal case doesn’t automatically provide funds, and there are steps to take in order to collect. – Non-citizens in the US have different estate planning considerations and may not receive the…

  • “Is it Right for You to Switch to a Roth 401(k) or IRA?”

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    – Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back. – After winning a money judgment in court, it is important to understand the next steps to actually receive the funds. – Non-citizens living in the US do not receive the same tax benefits and estate planning considerations…

  • Why You Shouldn’t Use Legal Zoom for Your Company’s Operating Agreement – Smith Legacy Law

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    1. Dolly Parton is known for her philanthropy and has important lessons to teach about doing good. 2. Winning a money judgment in a court case does not automatically provide funds, and there are steps to take in order to collect. 3. Non-citizens in the U.S. do not enjoy all the tax benefits that citizens…

  • Taking Care of Your Pet After You’re Gone

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    – Dolly Parton is known for her philanthropy and has important lessons to teach about doing good. – Winning a money judgment in litigation does not automatically provide funds, and there are steps to take to actually obtain the money. – Non-citizens in the US may not receive the same tax benefits as citizens, especially…

  • Managing Your Family’s Wealth: What is a Dynasty Trust and Why You Need One in Florida?

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    – Dynasty trusts can protect assets from creditors, providing an additional layer of security. – They can help reduce estate tax liability by transferring assets into the trust, potentially reducing estate tax liability. – A dynasty trust is an effective way to provide long-term financial security for multiple generations of a family. – A dynasty…

  • Tax-Smart Gift Ideas for Your Loved Ones

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    – Taxpayers can transfer up to $16,000 per recipient each year free of gift taxes using the annual exclusion. – Married taxpayers can split their gifts, allowing them to transfer up to $32,000 per recipient each year. – Gifts to a spouse are not subject to gift taxes under separate marital deduction rules. – Both…

  • Talking About Your Will and Inheritance with your Family

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    1. Dolly Parton is known for her philanthropy and has lessons to teach about doing good. 2. After winning a money judgment in a lawsuit, individuals still need to take steps to actually receive the funds. 3. Non-citizens in the U.S. do not receive the same tax benefits as citizens, particularly in estate planning. 4.…

  • Do You Need a Trust? – Expert Advice on Estate Planning

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about giving back to the community. 2. Winning a money judgment in court does not automatically provide funds, and there are additional steps to take to collect the money. 3. Non-citizens in the US do not receive all the tax benefits…

  • What Happens When the Estate and Gift Tax Laws Change?

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    – The TCJA provided higher estate and gift tax exemption amounts, but these are scheduled to revert to 2017 levels in 2026. – It is important to evaluate gifting capacity before utilizing the exemption, and to consider various gifting options such as forgiving loans or gifting discounted business shares. – The current increased exemption amounts…

  • Tax-Free Family Gifts: What High School Students Need to Know

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    – Planning for the future includes options for education funding, retirement planning, and estate planning. – Services offered by Baird include investment management, insurance planning, and liquidity solutions. – Market insights and wealth strategies are part of Baird’s insights and education offerings. – Baird leaders discuss integration with Hefren-Tillotson, investment in Minnesota, and the client-first…

  • Navigating Legal Disputes: Lessons from a Construction Contract

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    1. Dolly Parton is known for her philanthropic efforts and has important lessons to teach about doing good in the world. 2. After winning a money judgment in a court case, individuals need to take further steps to actually receive the funds awarded to them. 3. Non-citizens in the US experience different estate planning considerations…

  • Choosing the Right Legal Structure for Your Business

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    1. Dolly Parton is known for her philanthropic work and has valuable lessons to teach about giving back. 2. After winning a money judgment in a case, it’s important to understand that it doesn’t provide immediate access to funds. 3. Estate planning is crucial for non-citizens living in the US as they do not receive…

  • Protecting Your Child’s Inheritance from Their Spouse

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    1. Dolly Parton is known for her philanthropy, and others can learn from her passion for doing good. 2. Winning a court case and getting a money judgment does not automatically provide funds, and individuals must take steps to collect the money owed to them. 3. Non-citizens in the US may not receive the same…

  • The Advantages of Mediation in Legal Disputes – Explained by a Law Firm

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    1. Dolly Parton is known for her philanthropy and her lessons can inspire others to do good. 2. When you have a money judgment against your adversary, it entitles you to the amount stated but does not actually provide you with funds. 3. Non-citizens do not receive all the tax benefits that U.S. citizens do,…

  • Florida Real Estate Market Report 2023: A Guide for High School Students

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    1. People who exercise regularly have better mental health. 2. Consuming too much sugar can negatively impact cognitive function. 3. Regular meditation improves sleep quality. 4. Drinking coffee can provide a short-term boost in cognitive function. 5. Exposure to nature can reduce stress levels. – Increased vacant land development transactions in central Florida, particularly in…

  • FTC’s Plan to Ban Non-Compete Clauses Explained

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. Winning a money judgment in litigation doesn’t automatically provide funds, and there are steps to take after receiving a judgment. 3. Non-citizens do not enjoy all the tax benefits that U.S. citizens do, especially in terms of…

  • How to Safeguard Your Property in a Connecticut Divorce

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    1. Dolly Parton is known for her philanthropic efforts and has valuable lessons to teach about doing good. 2. Winning a money judgment in litigation doesn’t automatically provide funds, but entitlement to a specific amount. 3. Non-citizens in the US do not receive all the tax benefits that citizens do, especially when it comes to…

  • The Importance of Giving Gifts Properly

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    – Deathbed gifts made by personal check delivered before death but deposited after death are subject to estate tax. – The IRS successfully argued that the gifts were incomplete at the moment of death because the decedent had the ability to stop payment on the checks. – The entire amount of the gift checks, totaling…

  • Maximize Your Inheritance: Understanding Income Taxes in Estate Planning

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    – The current estate tax exemption amount is $12.06 million in 2022, so many people no longer need to be concerned with federal estate tax. – Because of the large estate exemption amount, more planning can be devoted to saving income taxes for heirs. – Options to consider include using the gift tax annual exclusion…

  • “Why Unmarried Couples Should Plan for the Future”

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    1. Unmarried partners are not protected by state and federal laws when it comes to inheritance, taxes, and decision-making powers. 2. Without estate planning, the state’s intestacy statute will determine who receives money and property, and unmarried partners may receive nothing under the law. 3. If a beneficiary is not designated on a life insurance…

  • “Does Your Business Have a Plan for the Future?”

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. After winning a legal case and obtaining a money judgment, individuals need to know what steps to take to actually receive the funds. 3. Non-citizens in the US do not enjoy all the tax benefits that citizens…

  • “S Corporations and Estate Planning: Safeguarding Your Wealth”

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    1. Dolly Parton is known for her philanthropy and has valuable lessons to teach about doing good. 2. Winning a money judgment in litigation doesn’t automatically provide funds, and there are steps to take to receive the money. 3. Non-citizens in the US do not receive all the tax benefits that citizens do, and there…

  • Protecting Your Property from Your Stepchildren – Smith Legacy Law Firm

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    1. Dolly Parton is known for her philanthropy and has much to teach about giving back. 2. After winning a judgment in court, individuals need to understand what steps to take next to collect the money awarded. 3. Non-citizens in the US have different estate planning considerations compared to citizens, particularly when it comes to…

  • Choosing a Guardian for Your Children – How to Plan for Their Future

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    – Dolly Parton is known for her philanthropy and has lessons to teach about doing good. – Winning a money judgment in a litigation case doesn’t automatically provide funds. – U.S. citizens and non-citizens are subject to U.S. tax laws, but non-citizens don’t receive all the benefits that citizens do. – Estate planning is important…