Tax Planning

Lessons Learned from James Gandolfini’s Will

By Bob Goldberg / July 17, 2013

No matter how much you have, estate planning is essential. When James Gandolfini, the actor who played mob boss Tony in HBO show “The Sopranos”, died of a heart attack at 51 last month, he left an estate valued at roughly $70 million. Commentators have declared his estate plan a “disaster” because the lack of…

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529 Plans Are Useful for College Tuition AND Estate Planning

By Bob Goldberg / February 3, 2012

As the cost of college tuition rises, so do parents’ stress levels. According to one website, the cost of tuition for one year at some schools can be enough to make a decent down-payment on a house. By the time you’ve paid for your child to spend 4 or 5 years at a university you…

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You Can Help Your Child Become a Homeowner—But Do Your Research First

By Bob Goldberg / February 1, 2012

American culture is one that respects independence and self-reliance; but with the current tough economic situation, and the fact that more young adults are graduating from college without jobs, or living at home until well into their 20’s, many families are opting to do things the old-fashioned way—with parents giving kids the financial help they…

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What Will You Be Doing With This Year’s IRA Withdrawal?

By Bob Goldberg / January 13, 2012

Many of our clients who are 70 ½ or older have chosen in the past to give a certain portion of their required IRA withdrawal to charity each year; doing so has allowed them to take the required withdrawal, keep their taxable income down, and give to a cause they care about all at the…

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Friendly Reminder to Take Advantage of Tax Deductions Before Year’s End

By Bob Goldberg / December 12, 2011

As 2011 draws to a close just about everybody has their minds on vacation, travel, and gift-buying, so we just wanted to take a moment to remind all of our readers to take advantage of your tax deductions and allowances before the year is over. These may include sending a check to your favorite charity,…

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Long Term Care Insurance Is Tax Deductible for Business Owners

By Bob Goldberg / December 9, 2011

By now most people, when planning for their “Golden Years”, know that they need to consider the possibility that they may need long-term care at some point in time, and that long-term care insurance is a logical option for this purpose. What most people don’t know is that if you are self-employed or own your…

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IRS Announces Another Extension for Estate Tax Filing Deadline

By Bob Goldberg / September 14, 2011

Just a few weeks ago the IRS announced the November 15, 2011 estate tax filing deadline for large estates of decedents who passed away in 2010; but some executors might be relieved to know that the IRS recently extended the deadline to January 17, 2012. This extension gives executors of large estates more time to…

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Some Tax Saving Strategies from the Wall Street Journal

By Bob Goldberg / August 24, 2011

Income, estate, and other federal tax levies have commonly been a bone of contention between those with different political ideologies; but the current conflict has reached unusual heights, with various million- and billionaires publicly expressing their views (pro or against) about current tax laws. Of course, million- or billionaires aren’t the only ones with strong…

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Don’t Let Tax Laws Limit Your Generosity

By Bob Goldberg / August 22, 2011

The past two years have been tough on the average American family. The economy has been floundering and the unemployment rate has been hovering around 9-10% since 2009, not to mention the roller coaster ride we’ve all been through with the stock market. But through it all some families and individuals have fared better than…

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Charitable Lead Trusts Can Benefit Your Heirs AND Your Favorite Charity

By Bob Goldberg / July 25, 2011

2011 and 2012 are good years not only for heirs but also for charities; high estate- and gift-tax exemption amounts (as much as $5 million per person) have many wealthy families exploring their options for gift-giving, and record-low interest rates are prompting many financial advisors to recommend that their clients set up charitable lead trusts…

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