Liquidity refers to the ability to quickly and easily convert assets into cash without incurring a significant loss. Building liquidity into your estate plan can help to ensure that resources will be available to cover estate settlement costs, as well as any tax due.
Like your financial strategy, your tax strategy operates in two time frames—now and later. “Now” covers the 12 months of the current tax year, such as income tax preparation and filing.
One of the cornerstones that helped build America is the opportunity for free enterprise. If you have “caught the spirit,” what are the basic factors and issues to consider that will help you get your business off the ground?
Trusts are legal arrangements that provide direction for how you want certain assets managed, for the benefit of one or more named individuals or groups, both during your lifetime and at death.
DUPONT LIVE At the time of writing, I just got back from taking this proverbial show on the road!
Each time you start a new job, your employer will give you a Form W-4 to complete that determines the amount of Federal income tax that is withheld from each paycheck. You should strive to match the amount withheld as closely as possible to your actual tax liability, adjusting your rates and allowances as your status changes.
Planning for the transition of the business you have spent many years building is not an easy task. However, taking steps now to prepare a business will and the accompanying documents can help ensure your business continues according to your wishes.
When planning the division of your assets, you may believe in a policy of “share and share alike”, but this does not necessarily equate with fairness?
Waiting until just before April 15 to start thinking about your taxes may prove to be a costly mistake. Advance tax planning is especially important if your circumstances have changed over the past year.
Running a business out of your home can be a lifestyle shift, particularly if you share your space with family members or a roommate.
