by Arthur Geffen | Apr 30, 2019 | Estate Planning, Estate Planning Solutions, Estate Tax, Income Tax
Less estate tax planning may be better for longer-living richThanks to longer retirement horizons, rich households may benefit from doing less tax-related estate planning, experts told Bloomberg. “People used to do a lot of wealth transfer planning when they...
by Arthur Geffen | Apr 30, 2019 | Income Tax
Anyone who pays attention to state government knows Illinois’ fiscal system is a hot mess. Illinois has a huge — as in $8 billion plus — accumulated deficit in its General Fund. Not good, considering over $9 out of every $10 of spending on...
by Arthur Geffen | Apr 15, 2019 | Income Tax
This spring marks the first time taxpayers are filing under the Tax Cuts and Jobs Act. The 2018 standard deductions is now $12,000 for single filers and $24,000 for married filing jointly, and itemized deductions have been limited. You can file for a six-month...
by Arthur Geffen | Jan 17, 2019 | Income Tax, Trusts
The U.S. Supreme Court has announced it will hear a trust tax case that has significant implications for states and trust beneficiaries: Hundreds of millions of dollars of annual tax revenue hang in the balance. “It’s a big development,” says Carol Harrington,...
by Arthur Geffen | Sep 17, 2018 | Estate Tax, Income Tax
As always, two things remain constant: (1) you will get older every day and (2) you will get taxed all along the way. In this article, I’ll explain some key age-related tax and financial planning milestones to remember for you and your loved ones, taking into account...
by Arthur Geffen | Sep 5, 2018 | Income Tax, Income Tax Credits
This year, millions of American families can enjoy a $2,000-per-child break under age 17 tax break with the expansion of the child tax credit, according to this article from The Wall Street Journal. In addition, the overhaul even raises the full credit income...
