Articles

IRS Health Care Tax

Starting January 2014, you must either have health insurance coverage throughout the year, qualify for an exemption from coverage, or make a payment when you file your 2014 federal income tax return. Qualifying coverage includes coverage provided by your employer, health…
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State Death Taxes

Under current law, the federal government will not tax an estate if it’s worth less than $5,430,000 (2015 inflation indexed). However, it’s important to note that many states have an estate tax exemption well below the federal exemption. Currently, 15…
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Medicare

What is Medicare? Medicare is the federal health insurance program for people who are 65 or older and certain younger people with disabilities and a medical condition. To get Medicare, you must be a U.S. citizen or a legal resident for…
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Preparing for Long-Term Care

Do You Need Long Term Care Insurance? Long term care (LTC) insurance is for people with prolonged physical illness, a disability or cognitive impairment (such as Alzheimer’s disease). The need for long-term care may begin gradually as you find that…
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Reverse Mortgage

What is a Reverse Mortgage? A reverse mortgage is a loan that allows you to access a portion of the available equity in your home. The proceeds from the loan may be “tax-free” and you choose how you spend those proceeds. One…
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1031 Exchange

What is a 1031 exchange? Under Internal Revenue Code (IRC) Section 1031, a real property owner can sell his property and then reinvest the proceeds in ownership of like-kind property and defer the capital gains taxes. To qualify as a…
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Investing in Stocks & Bonds

How to choose Investments? You want to choose investments that will meet your financial goals. To do that, it’s important to understand what your investment choices are and how different types of investments work. Risks and potential returns vary greatly…
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Estate Planning

What you need to know about estate planning: 1. No matter your net worth, it’s important to have a basic estate plan in place. Such a plan ensures that your goals are met after you die. 2. An estate plan has…
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Social Security

What is Social Security? Social Security was established in 1935 to alleviate poverty among the elderly during the Great Depression. It was created as a self-financing program that would collect payroll taxes from workers which would immediately be paid out…
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Life Insurance

How to choose the right life insurance policy for you and your family? A life insurance policy is a contract with an insurance company. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit,…
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Obamacare and Health Insurance

ObamaCare Provisions at a Glance The following is a list of key ACA (Affordable Care Act = “ObamaCare”) provisions (with the implementation date in parentheses, where applicable): Dependents may be covered by their parents’ insurance plans until they turn 26…
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Cost Segregation

What is Cost Segregation? Cost Segregation is an engineering-based approach to identifying assets within a building that can be reclassified into a much shorter depreciation recovery period than the building itself. Real estate properties are generally depreciated using a straight-line…
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College Savings Plans

How much do you need to save for college? Do you know the many different tax-advantaged ways to save for college? Or, if you are already saving for college, are you keeping pace for rising college costs? I will help answer your…
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Retirement Planning

No matter how young or matured you are, I will help you choose the right strategies to save and to prepare for your retirement, or to review your existing plans. How to start Planning? Identify and review your income and expenses…
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