How to Avoid Income Tax on Capital Gains
Generally, when you sell an asset, its appreciation in value from its acquisition cost is a “capital gain” that is subject to federal and state income taxation. Conversely, if the asset’s value at the time
“ABLE” Account -Financial Savings Tool for Special Needs Persons
An ABLE (Achieving a Better Life Experience) account is a must-have savings tool for persons with special needs. It supplements but does not replace needed public benefits while often providing greater flexibility than available under
How Does Medicaid Treat Spouses of Nursing Home Residents?
Medicaid is the only public benefit program that pays for long-term nursing home care. Medicare and private health insurance don’t. But in order for Medicaid to pay you’ve got to be broke. Worse yet, if
Retirement Plan Required Minimum Distributions
IRA and other qualified retirement plans offer a unique opportunity for persons to amass, over their working lives, a retirement nest-egg that grows tax-deferred. But upon attaining age 72, an account holder must begin to
Estate Planning for Cognitive Impairment
Presently, approximately 5.8 million people in the U.S. suffer from dementia, a term used to describe a group of symptoms affecting memory, thinking and social abilities severely enough to interfere with daily life. Various conditions
Federal Gift & Estate Tax Changes in 2023
Current hyper-inflation brings a silver lining in 2023. The annual gift tax exclusion and gift & estate tax lifetime exclusion are scheduled to increase next year. These are welcome changes for those who want to
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