Solutions to Make Better Decisions with Your Taxes and Money

A Quick and Easy Guide to Filing an Income Tax Return for an Estate (Form 1041)

If you’re the personal representative for someone who is recently deceased, you may need to file Form 1041, Income Tax Return for Estates and Trusts, for their estate. However, not every estate requires an estate tax return. Sometimes, all you need to do as a personal representative is make sure an individual income tax return […]

What’s the Difference between Estate Taxes and Inheritance Taxes?

As of 2015, you can have an estate worth up to $5.43 million before you need to worry about federal estate taxes taking a bite out of the money and other assets you leave to your heirs. Therein lies the problem. If taxpayers stop worrying about death tax planning altogether, their heirs could be in […]

9 FAQs about IRS Form 1041, U.S. Income Tax Return for Estates and Trusts

If you are connected to an estate, trust or bankruptcy estate, or if you receive a Schedule K-1 from a Form 1041, you need to file Form 1041. Here are some answers to common questions you may have about Form 1041, U.S. Income Tax Return for Estates and Trusts.

6 Items For Your Emergency Financial First Aid Kit

Are your finances prepared and organized for a financial emergency? Do you have a plan if a financial emergency occurs? When our youngest son, Joshua, was born we started saying, “If he had been our first, he would have been our last.” That little boy had more energy and could get into more scrapes than […]

Protect Yourself With a Last Will and Testament

As the new year is upon us and you are filing your taxes and reviewing your finances, are you looking at your will? Have certain life events occurred this past year that revisions need to be made? No one likes to think of the possibility of death, but a will is the only way to […]