February 2022

You can estimate your federal estate tax liability by developing your own worksheet. First, calculate the present value of your gross estate by adding up these assets: Stocks, bonds, real estate, and cash. Household furnishings, motor vehicles, jewelry, and collectibles. Proceeds from life insurance policies and annuities. Retirement benefits including Individual Retirement Arrangements (IRAs) and…

According to the College Board, the most recently published figures of the average annual cost of tuition and fees at a public university for a school year was $9,139 for in-state students and $22,598 for out-of-state students. The average cost of a private university was much higher at $31,231. Thankfully, much like tax-advantaged accounts designed…

Most tax-exempt nonprofits must file a 990 form with the Internal Revenue Service every year, typically in mid-May. The 990 is purely informational. Nonprofits commit to serve an “approved purpose” – such as fighting bigotry, protecting animal welfare or sheltering the homeless – and meeting other eligibility rules. In exchange, they generally don’t pay taxes…

One variable that is hard to plan for in retirement is taxes. There are steps you can take, though, despite the uncertain tax landscape. We don’t even know what the tax rates will be next year, so how can you plan for 20 years or more in the future? We can’t say whether rates will…