Question: I am the beneficiary of my uncle’s IRA who died at age 65. What is the best way for me to withdraw money from the account?
Post-Mortem IRA Withdrawal Strategies
read more
Tax Corner
Tax Savings on Business Contract Sales
Question: My wife and I hold contracts to provide property management services to real estate owners. Are we entitled to capital gain treatment if we sell these contracts or do we need to form a limited liability company to do so?
Passing Vacation Homes to Family Members
Question: I have a vacation home that I want to leave to my three children but I am not sure how to do so. Do you have any suggestions?
Passing Assets to Non-Citizen Spouses in Tax Effective Manner
Question: My spouse is not a U.S. citizen. Can I leave assets to her upon my death without incurring estate tax?
Understanding Cryptocurrency Tax Rules
Question: I deal in cryptocurrency through my business. Customers sometimes pay me in Bitcoin and I sometimes use Bitcoin to pay suppliers. Will these transactions be treated as if payment was made in cash?
Benefits of State Pass-Thru Entity Tax
Question: As the owner of a pass-thru entity, can I benefit by paying my state’s new pass- thru entity tax?
Claiming Bad Debt Losses
Question: A few years ago, I individually loaned a friend a sizeable amount of money. Since there is no chance I will be repaid, can I report a tax deduction for the amount loaned?
Tax Planning for College Education
Question: What is the most tax efficient way for me to put away a large sum for my grandchildren’s college education?
Revisiting Qualified Charitable Distributions After Secure Act
Question: Can I still make qualified charitable distributions from my IRA after the recent legislative changes?
Utilizing the Potentially Disappearing 2021 Estate Tax Exemption
Question: Given the possibility that the Federal estate tax exemption will decrease, should I make gifts now before the law changes?