CPA Chat

“Wow! My uncle left me $100,000 in his will. Wait, what?! I only received $60,000. What happened to the difference? Did my cousins steal some of my inheritance?” This might […]

Have you ever found money in your pockets that you have forgotten about? I know I have on multiple occasions. Forgetting about an asset is a common occurrence for people, […]

With Joe Biden as president and the Democrats in control of both chambers of Congress, we should expect changes coming to the federal tax law. President Biden has promised a […]

If you have been named as an executor (or if you are choosing your own executor) it is important to understand the duties and responsibilities of this role. Today’s blog […]

If you are like most people, your life is complicated. There are a lot of moving parts, a lot of puzzle pieces. If you sometimes find it challenging to manage […]

In my last post, I alerted you to the fact that the federal gift and estate tax exemptions‰ÛÓ now at a record high of $11.58 million per individual for 2020–would […]

The federal gift, estate, and generation-skipping transfer (“GST”) tax exemptions are currently at an all-time high of $11.58 million per individual for 2020 ($23.16 million for a married couple).   However, […]

If you’re going through a divorce, you probably feel overwhelmed. Not only is it a difficult time emotionally, but there are a lot of legal and financial decisions you have […]

A loved one has just left you a bequest—but should you accept it?  You are now in the unique position of doing what is called “post mortem” planning. If you […]