by admwiu | Dec 6, 2023 | Newsletter, Tax planning
In either case, IRS rules allow a married couple to fund separate IRA accounts for each spouse based on the couple’s joint income. The total of both IRA contributions cannot exceed the total taxable income reported on the couple’s joint tax return. You can make...
by admwiu | Dec 6, 2023 | Newsletter, Risk management
“London Bridge is down.” On September 8, 2022, those words were reportedly used to launch what were arguably the most complex end-of-life proceedings the world had ever witnessed: the funeral arrangements for Queen Elizabeth II. The plan, known as Operation London...
by admwiu | Dec 6, 2023 | Newsletter, Retirement, Tax planning
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2023. Young blogger or...
by admwiu | Dec 6, 2023 | Business owners, Newsletter, Tax planning
There’s a certain amount of risk that comes with owning a business. Accidents can happen no matter how well a company is run, and a lawsuit could prove to be devastating if the business is found to be at fault. Interior of a third wave coffee shop. A limited liability...
by admwiu | Dec 6, 2023 | Estate planning, Newsletter
In the past, trusts were often used to avoid estate taxes, but that purpose has become less important for most people with current high exemption amounts ($12.92 million in 2023, $25.84 million for a married couple). However, some states have estate taxes or...
