Taxes & Estate Planning

Podcast: Filing Your First Tax Return

https://financialfitnessassociation.org/wp-content/uploads/N6_FilingFirstTaxReturn-1.mp3   Filing Your First Income Tax Return   Filing your income tax returns may sound frightening, but it is not as bad as it may sound.  It is something…
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Podcast: Beginning to Think About Estate Planning

https://financialfitnessassociation.org/wp-content/uploads/L9_BeginningToThinkAboutEstatePlanning.mp3   Welcome to the podcast series – Take Control of your Financial Future. In this session, we are going to review some of the basics of estate planning.  …
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Year Round Tax Savings Strategies

Here are some ideas that you can use throughout the year to make April 15th less taxing: Be organized. Having your records in a usable manner will make preparing your…
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Year End Tax Planning Opportunities

Tax planning should be a year round activity, but deserves special attention as the end of the year approaches.   While everyone’s tax situation is different and there is no substitution…
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What Does “Probate” Mean?

The term “probate” is associated with estate planning and describes the legal process by which a decedent’s will is processed by a special court.  An executor of the estate is…
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The Basics of Estate Planning

Estate planning is often only considered essential for wealthy or older individuals. If you have loved ones, however, you should have some form of estate plan regardless of your level…
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The Tax Implications of Financial Decisions

The Tax Implications of Financial Decisions The Internal Revenue Code is a very complex, often confusing and constantly changing set of rules. Individuals sometimes let tax issues cloud their decision-making.…
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Revocable Living Trusts

Living trusts have become a popular way of owning assets for some people. They can help address a number of important issues, but they are not for everyone. What is…
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Making Annual $15,000 Gifts

What is the simplest estate planning tool around? Gifting! Make substantial annual gifts now while you can control the funds with flexibility. Reap the benefits and fun of being with…
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Fundamentals of Income Taxes

Our federal income tax system was implemented in 1913 simply as a way for the government to collect revenue. Since then, the laws have been expanded and revised dozens, if not hundreds of times.

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Giving Stock to Another Person

One of the most common and easiest estate planning tools is simply giving assets to a family member. The tax laws enable gifting up to $15,000 to anyone per year…
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Charitable Giving Strategies

The American public continues to be generous to their favorite causes.  It is estimated that over $335 billion was given to charities in 2013 according to the Giving USA Foundation. …
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The Basics of Income Taxes

Over the years, the income tax law has become huge, complex and confusing. Many turn to professional advisors to help prepare their tax returns. We’ll help you learn how you can be a more-informed income taxpayer.

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Investments That Delay Taxation

Having control over when you pay income tax on the earnings of an investment can be attractive for several reasons: Paying taxes later improves your current cash flow. You want…
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Mutual Funds and Income Taxes

Mutual funds offer many benefits such as diversification, professional management and convenient purchase options. However, the income tax issues associated with mutual funds can be confusing. Generally, owning equities through…
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How Are Mutual Fund Investments Taxed?

Mutual funds offer many benefits such as diversification, professional management and convenient purchase options. However, the income tax issues associated with mutual funds can be confusing. Generally, owning equities through…
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Understanding Tax Brackets

Situation I was thinking about income taxes and am a bit confused. The accountant said that my husband and I paid about 17% in tax but said that we were…
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