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Income Tax and Estate Planning Articles

Understand the Tax Implications of Financial Decisions - Income taxes can be confusing and frightening. All too often, misunderstandings cause people to make financial choices that are not in their best long-term interest. Learn a few basics that will put taxes into the proper perspective.

Developing an Effective Income Tax Strategy - While it may be too late to reduce last year's tax bill, it is the right time to start planning to reduce your future income taxes. This article offers some ideas that may make every April 15th less taxing.

Year Round Tax Savings Strategies - Income taxes are not something that should only be considered once a year. This article provides several ideas that can be put to work to make your tax bill smaller.

The Power of Tax Deferred Compounding - No one likes to pay income taxes. Delaying the actual payment of taxes can be satisfying from an emotional and financial point of view. Learn some of the types of investments and types of accounts that can help you delay the final tax bill.

Taxable, Tax Advantaged, Tax Deferred and Tax Free - Certain investments and certain types of accounts can help you reduce, or at least delay, paying income taxes on investment earnings, Learn some of the why's, how's and when's of this important issue.

Charitable Giving Strategies - Americans continue to open their wallets to support their favorite causes. Understanding your options may help you save some additional taxes while you help your favorite charity.

Consider Charitable Contributions of Appreciated Stock - With the recent strong performance of the stock market, many people should consider how giving stock to their favorite charity can further their favorite causes and create an income tax break.

The Basics of Estate Planning - Estate planning is not just the wealthy or the elderly. A few steps can help ensure that your family will be cared for as you intend if tragedy strikes.

Estate Planning is More Than Minimizing Taxes - People often think that estate planning is just for the wealthy and usually undertaken just to avoid or reduce estate taxes. However, there is much more. The proper planning can reduce the stress often associated with choices over medical decisions and financial management for the dying or disabled.

Estate Taxes Under the New Tax Law - The new tax law reduces, eliminates and reinstates estate taxes. Many expect even more changes to the estate tax laws over the next few years. Review some of the recent changes and prepare to discuss your estate plan with your professional advisor.

Making Annual $11,000 Gifts - Many individuals are able to help their families and reduce potential estate taxes by using this popular gifting technique. It can work for anyone and be a critical part of family financial planning.

Revocable Living Trusts - These popular forms of asset ownership are often "touted" as ways to avoid the expense of probating an estate. Learn what they are, how they work, how you may establish one and what to watch out for.

Consider a Life Insurance Trust - Life insurance trusts can be used to keep insurance proceeds out of your taxable estate and save large amounts of estate taxes. As you review your estate plan, speak with your attorney about this powerful and useful technique of owning life insurance policies.

Beware of the Alternative Minimum Tax - The AMT is becoming a problem for millions of taxpayers and many are not aware of its presence. It may be difficult to totally avoid the AMT, but an understanding of what it is and how it works may provide some ideas on how to reduce it.