Home prices are down, and inventories of unsold homes are high in many areas. These are buyer’s markets. That makes this an ideal time to buy a home, or to help a grandchild buy that first home or move up to a larger home. Even better, there is a tax incentive that leverages the help you provide...
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Retirement Watch
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Bob Carlson
on
09-10-2009
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Filed under: Estate Planning, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, homes, grandkids, annual exclusion, grandchildren, mortgages
Gift giving is the surest way to help loved ones of all ages, establish a legacy, and reduce estate taxes when the estate is large enough. Yet, many people are hesitant to make significant gifts to loved ones, because of the potential pitfalls. Those pitfalls, however, can be avoided with some shrewd...
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Retirement Watch
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Bob Carlson
on
07-10-2009
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Filed under: Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, trusts, estate taxes, grandkids, annual exclusion, grandchildren, creditor protection, asset protection
Gift giving is the surest way to reduce estate taxes, help loved ones of all ages, and establish a legacy. Yet, many people are hesitant to make significant gifts to loved ones, because of some potential pitfalls. Those pitfalls, however, can be avoided with some shrewd and creative giving strategies...
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Retirement Watch
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Bob Carlson
on
04-24-2009
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, trusts, estate taxes, grandkids, annual exclusion, grandchildren
Last week we discussed how today’s economic distress creates estate planning opportunities. Because of today’s reduced asset values, estate owners can shift assets out of their estates tax at much lower tax cost than they could have a year or two ago. We went over basic strategies for taking...
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Retirement Watch
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Bob Carlson
on
02-20-2009
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, income taxes, trusts, homes, estate taxes, grandkids, annual exclusion, grandchildren, financial crisis, investments, portfolios
There is at least one silver lining in today's dark clouds—estate planning opportunities are being created. Falling market prices and low interest rates are a great combination for estate planners. If the price depression of the assets is temporary, there is the potential to transfer significant...
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Retirement Watch
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Bob Carlson
on
02-13-2009
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Filed under: Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, estate taxes, grandkids, real estate, annual exclusion, grandchildren, financial crisis, stock, stocks, investments, portfolios
For the two lowest tax brackets, the tax rate in 2008 through 2010 is 0% for qualified dividends and long-term capital gains. This compares to the 15% top rate others will pay on those types of income. Single taxpayers with taxable income up to around $33,000 and married couples filing jointly with taxable...
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Retirement Watch
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Bob Carlson
on
01-30-2009
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, income taxes, trusts, estate taxes, grandkids, grandchildren, retirement, stock, stocks, investments, portfolios
Trusts are part of more and more estate plans. Often trusts are used to hold and manage assets for younger generations. Sometimes the beneficiaries are too young or inexperienced to manage the assets. Other times the older generation is afraid the younger generation might not resist temptations to spend...
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Bob Carlson
on
01-16-2009
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, trusts, estate taxes, grandkids, grandchildren, creditor protection, asset protection, investments
Estate planning and tax reduction will be returning to the front burner for many people. Congress was unable to pass a permanent estate tax reduction in recent years, but a permanent law is likely in 2009 or 2010.Changes in Washington made permanent repeal of the estate tax unlikely, but something similar...
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Retirement Watch
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Bob Carlson
on
12-19-2008
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, trusts, estate taxes, grandkids, grandchildren
Family limited partnerships have been a key element in many estate plans for decades. The FLP provides an array of benefits to the estate owner, not the least of which are tax reduction plus continuing control of the assets. Those benefits and the popularity of FLPs are why the IRS has been fighting...
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Retirement Watch
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Bob Carlson
on
09-26-2008
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Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, trusts, homes, estate taxes, grandkids, real estate, grandchildren, retirement, retirement plans, creditor protection, asset protection, business sales, selling a business, family limited partnerships, partnerships