A college education is likely one of the most significant purchases a young person today will make, ranking behind their first house, but probably more than their new car. This was not always the case. Like many other children of the WW II generation, we were able to go wherever we wanted to college and could take on student loans to make up any shortfall. Many of my fellow moms and dads think this is still the case, but as you will see below, such assumptions could cripple the . . .
...Here are the Answers for Federal Gift and Estate Tax
Author: Robert J Falcon, CPA, MBA, CFP® Candidate
Release Date: 2/14/17
Many folks are understandably confused by the gift and estate tax rules in the U.S. Do you need to file a gift tax return when someone makes a large gift to you? What about when you are the one making the large gift? Here’s what you need to know concerning gifts and taxes.
Estate and Gift Tax Basics
First some basics: Although it may not be intuitive, you do not generally pay any gift or estate tax when you receive . . .
"Why do I need a will? Everything goes to my spouse, right?” Not so fast! For a married Pennsylvania couple with kids from their marriage, the surviving spouse gets $30,000 plus half of remainder. Your kids get the other half. What do you think your kids will do with their half as soon as they reach majority age of 18? Vegas, here we come! Get a will in place and direct assets into a trust that specifies the ages (e.g, 25, 30, and 35) at which your . . .
“A man's got to know his limitations.” This classic line from Dirty Harry in the movie “Magnum Force” has been referenced by philosophers, leveraged in leadership training, and even used as a basis for a homily during a Mass I attended a few years back. (It’s also the voice young men hear inside their heads as they contemplate asking out that special someone, but that’s a totally different article!)
Professionals today are highly . . .
A personalized comprehensive plan that transitions you smoothly into retirement!
Release Date: 5/9/16
Everyone starts the journey into retirement at different times, for different reasons. OneSource Retirement Advisors offers a unique, multi-disciplinary approach to retirement transition. We are the experts in investment management, tax planning, and estate counseling, going beyond traditional financial boundaries to ensure peace of mind in retirement.
There is a myriad of retirement considerations: planning how to pay yourself, social security changes, . . .