Residency and Domicile Important Considerations
Understand the differences between residency and domicile and their implications for tax planning. Explore a case study and learn key actions to establish domicile for potential tax benefits.
Second Homes & Tax Implications
Many people dream of having a place family can gather for vacation or a second home to spend winters once retired. Before making that purchase, there may be tax implications to consider.
When Depressed Asset Values Create Planning Opportunities
Depressed asset values are often a source of frustration and worry for investors. However, with those concerns often come opportunities to achieve long-term planning objectives.
The Importance of Celebrating Birthdays | Central Trust
Maybe you don’t get the big cake and piles of presents like when you were a kid, but birthdays are still worth celebrating. When it comes to financial planning, each milestone birthday brings new benefits and opportunities.
Considering a Roth conversion? Now might be your chance.
Given the recent volatility in the stock market, now might be a good time to consider a taxable Roth conversion.
Tax & Estate Strategies: What is a GRAT and Do You Need One?
While Grantor Retained Annuity Trusts (GRAT) can seem complex to some, they can really be simple when broken down. Because GRATs have the potential to provide significant tax benefits when interest rates are low, today’s interest rate environment may provide a good opportunity.
Tax Tip of the Day: Spending Virtual Currency | Central Trust
Every time virtual currency is “spent” on goods & services, a taxable transaction has occurred that needs to be reported on your tax return!
Uncertainty vs. Certainty of Death and Taxes | Central Trust
When uncertainty is all around, proactive steps you take help mitigate your personal financial risk and the uncertainties of life and the certainty of death and taxes.
SECURE Act: New Challenges & Planning Opportunities
The SECURE Act was intended to expand opportunities for taxpayers to save for retirement and to simplify administration for retirement accounts. It has resulted in unique challenges and planning opportunities in the estate planning arena.
Managing Newly Acquired Wealth
While your chance of winning the lottery is extremely small, the challenges associated with managing a large influx of money are actually quite common.