Other estate administration tasks include filing tax returns for the estate, filing suit if the estate is owed money that has not been paid, or defending the will if it is contested. If there is litigation the estate can pay the legal fees. The final task is to close the estate....
Why Investors can be Thankful in 2024 Investors can celebrate 2024 stock market gains, lower inflation, tax-deductible IRA contributions and expanded gift-tax exclusions. Kate StalterNov. 18, 2024 Learn About Social Security Early Younger workers have a lot to gain by understanding how Soc...
Building an investment portfolio may require personalization and finesse, but it can also be ultra-simple.
The legal personal representative or executor approved by the court is responsible for resolving the financial affairs of the deceased,4including locating and overseeing all assets. The executor has to estimate the value of the estate by using either the date of death value or the alternative valu...
Loans backed by the SBA include: The 504 loan (or the grow loan), which provides a small business with up to $5.5 million in financing to buy the fixed assets it needs to run its operations, includingreal estate.8 The 7(a) loan, which is the agency's primary loan program. The maxi...
Probate court is the legal process of distributing someone's estate after they've passed away. This guide will walk you through how it works and what you should expect.
Preferred Tax Treatment— An immediate annuity may be a good strategy to defer taxes until later in your retirement when you may be taxed at a lower rate. This differs from other types of annuities for which the tax burden is “front loaded.”...
What is an HSA?Health Savings Accounts (HSAs) are tax-advantaged medical savings accounts available to people enrolled in high-deductible health plans. The accounts were created by federal legislation in 2003.As you can read below, you do not have to be tied to an employer plan to qualify...
It’s essentially the business equivalent of a Social Security Number (SSN). Just as every person born in the United States is assigned an SSN at birth, businesses are assigned a Tax ID number by the IRS when they are formed. This number is used by the Social Security Administration (SSA...
Sandra Habiger is a Chartered Professional Accountant with a Bachelor’s Degree in Business Administration from the University of Washington. Sandra’s areas of focus include advising real estate agents, brokers, and investors. She supports small businesses in growing to their first six figures and ...