When a new president takes office, tax planners and financial planners sift through campaign promises as if they were tea leaves, trying to predict what laws will change and how to adjust their planning accordingly. President Joe Biden has been in of…
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Regular readers of this blog know that we have been on the lookout for tax changes on the horizon since the beginning of the current presidential administration. Reading the tea leaves of campaign promises and statements to the press, we have counsel…
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In the first few months of President Biden’s administration, the focus has been on COVID-19 relief, voting rights, and infrastructure. But President Biden campaigned on changes to the tax system, and you can be sure that, sooner or later, the admin…
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In recent years, tax policy has tended to change depending on which political party held the reins in Washington, D.C. These swings are problematic for people making long-term financial decisions; The increasingly dynamic nature of tax law offers a g…
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When an individual dies, any assets they own could be subject to federal estate tax. However, under today’s laws, very few estates—only two in a thousand—are likely to pay federal estate tax. That figure could change significantly with the new…
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The tax filing deadline was delayed for three months in 2020 due to the coronavirus pandemic. As a result, many of those who filed their taxes in July have recently received their income tax refunds. A tax refund can feel like a windfall, and many pe…
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One of the first decisions a business owner is faced with is what business entity they should choose for their company. For many businesses, the choice comes down to two options: a limited liability company (LLC) or S corporation. An S corporation is…
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Since the implementation of the federal Tax Cuts and Jobs Act (TCJA) a couple of years ago, our office has received many inquiries about the benefits of converting an existing C corporation to an S corporation. In this article, we will briefly discus…
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One of the great joys of having worked and saved for most of your adult life is the ability to share your bounty with the people you love, including children and grandchildren. If some of those loved ones are minors, you may be wondering about the wi…
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If you have a trust, you probably don’t think of it as having a residence. After all, it’s not a person, or even an entity; technically, a trust is a relationship between the person who created it (the grantor), the person who administers it (the…
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Ted is extremely knowledgeable in estate planning, elder law and business planning and is wonderful to work with. I have known Ted for many years through our affiliation in WealthCounsel. From time to time Ted and I have the opportunity to work toget… Read More
– Lance Like, Founder & Principal, Like Law Group LLC, Was with another company when working with Ted at Gudorf Law Group, LLC