Some things for Anthony Scaramucci and Deidre Ball to consider – tax considerations in divorce.

Posted on Leave a commentPosted in Personal consulting, Personal Finances, Tax

With everyday giving us exciting headlines of the workings of the White House; we wonder if Anthony Scaramucci, the new communications director and his soon to be ex, Deidre Ball have considered how their divorce may affect their taxes. I have no association with either party, but divorces do happen and this might be a […]

Higher medical costs = Fewer Malpractice Claims

Posted on Leave a commentPosted in Colorado Tax and Accounting Consultation, Personal consulting, Personal Finances

Defensive medicine is widely practiced in the United States and bears a direct coorelation to lower malpractice claims. Physcians reporting the practice of  “defensive medicine” — care provided solely to reduce the threat of malpractice liability — have significantly lower malpractice claims. In Massachusetts, for example, greater than 80% of physicians reported practicing defensive medicine, which consists, […]

Review your powers of attorney at least every 5 years

Posted on Leave a commentPosted in Estate Tax, Personal consulting, Personal Finances

Powers of attorney are critical components of an effective estate plan. After you’ve executed powers of attorney, it’s important to review them periodically — at least every five years and preferably more frequently — and consider executing new ones. 2 types A sound estate plan should include two types of powers of attorney: Financial power […]

Direct payments of tuition and medical expenses can reduce future estate tax exposure

Posted on Leave a commentPosted in Estate Tax, Personal Finances, Tax

With the gift and estate tax exemption at $5.45 million in 2017, you may be less concerned about these taxes. But if you don’t take advantage of making tax-free direct payments of tuition and medical expenses, you’re missing a valuable opportunity to reduce your potential gift and estate tax exposure down the road. Leveraging the break […]

Making a Charitable IRA Rollover and Reducing your AGI.

Posted on Leave a commentPosted in Personal Finances, Tax, Uncategorized

Should you make a “charitable IRA rollover” in 2017? Last year a break valued by many charitably inclined retirees was made permanent: the charitable IRA rollover. If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on […]