With the confusion that has been caused by NO estate tax this year, we thought it would be wise to chime in on the matter. If you haven’t already heard, the federal estate tax was NOT reinstated for 2010 or in morbid terms — If your spouse passes, you won’t be subject to federal estate taxes. Read More.

Many taxpayers are trying to figure out ways to avoid paying the tax penalty for converting a traditional IRA into a Roth IRA. Here’s one common question, “Can I use a capital loss carry forward from Schedule D to offset the tax penalty involved in making a conversion to a Roth IRA? Read More.

So many couples in the beginning of their marriage fail to have a financial discussion which is so critical to financial planning AND taxes. They struggle with adopting the term “our taxes” and instead use “my taxes,” because of ego or the sensitive nature of finances. But, it is critical for each spouse to know the others income, expenses, investments, benefits, & of course financial goals. All of these elements are important to determine the best way to file taxes and how to monitor your tax liability throughout the year. Read More.

As painful as it is, you might as well start building a tax plan now since the alternative is scrambling last minute, burning the midnight oil, only to find out that you don’t have a clue what to do. Read More.