Out of many good reasons to get married, true love and compatibility being among the best, are the tax blessings of the Internal Revenue Service. No one would suggest that you tie the knot for that reason but the tax code does provide a few wedding gifts to those who say “I do.”
The chance to be your own boss and experience the payoff of your own hard work can make entrepreneurship an exciting adventure.
It’s a great way to effectively engage and inspire your organization – and have fun along the way.
Planning for death or disability can be difficult. However, leaving your grown children uninformed about your key financial, medical, and estate planning information can result in confusion and delay at a time when clarity and timeliness are of the essence.
A monthly newsletter providing you insight into the law, finance and family matters (with an occasional dose of humor) from your friends and advocates at DuPont Wealth Solutions and the Law Offices of DuPont and Blumenstiel.
Consider what would happen if you were to suffer a catastrophic illness or become incapable of managing your own affairs.
Life insurance is present in almost every estate plan and serves as a source of support, education-expense coverage, and liquidity to pay death taxes, pay expenses, fund business buy-sell agreements and sometimes to fund retirement plans.
You can easily draft your own will through one of two methods: type it yourself on a computer or typewriter, or create one through an online program. Although handwritten wills are permitted, creating a formal, typed document is less likely to cause trouble.
If you receive an audit notice from the IRS, hiring a tax professional to represent you is probably the best strategy. However, should you choose to handle an audit yourself, the Taxpayer Bill of Rights allows you to tape record your meetings with an auditor and to adjourn a meeting with an auditor at any time to either consult with your tax advisor or to request professional representation.
When assets are not titled correctly, your property might not pass to your intended heirs.
