Top 3 Reasons You Need a Revocable Living Trust

Top 3 Reasons You Need a Revocable Living Trust

With the new tax law and some of the new estate tax provisions, many individuals may find themselves asking if they still need a revocable living trust. Avoid Probate One of the main reasons to have a trust as a part of your estate plan is to avoid probate.  In...
Top 3 Ways to Hack the Tax Cuts and Jobs Act

Top 3 Ways to Hack the Tax Cuts and Jobs Act

Update your W-4 Taxpayers can no longer claim a personal exemption.  Make sure you have proper wage withholding.  If you enjoy getting a refund when you file taxes, and you don’t want to owe, you will likely need to update your W-4 Get the medical procedure you’ve...
Repeal of State and Local Income Tax (SALT) Deduction

Repeal of State and Local Income Tax (SALT) Deduction

By now, you have probably heard that the 2017 Tax Cuts and Jobs Act has limited the deduction for state and local income tax (SALT) to $10,000 for all tax filers, including tax filers who file their tax returns as married filing jointly.  If you are a California...
Estate Planning After the Tax Cuts and Jobs Act

Estate Planning After the Tax Cuts and Jobs Act

The new tax laws increased the estate, gift, and generation-skipping transfer (GST) exemptions to $11.2 million in 2018.  The annual gift exclusion has been increased to $15,000 in 2018. It is still very important to plan even with the new tax laws.  The tax laws...

Tax Changes for 2018

https://youtu.be/2TE1RvU4TQg   As you may be aware, there will be some drastic tax changes that will go into effect in 2018.  Many clients want to know how this will affect them. Please consider the following changes: There will still be 7 income tax brackets for...