How to maximize your investment income
This article continues my quest to lead the education parade for my readers regarding taxes. Today's subject matter, a little-known strategy, goes to the head of the class not only as a star income tax saver, but also as an estate tax destroyer and a superior asset protection device. ...
How to maximize your investment income
This article continues my quest to lead the education parade for my readers regarding taxes. Today's subject matter, a little-known strategy, goes to...
Solutions to family business problems
Almost all readers of this column who contact me are owners or part owners of a family business. Each one has a unique family business story that would...
Estate tax problems may soon disappear
It is almost certain that before 2009 ends, the tax law will be changed to make the unified credit, the amount of your wealth that can be left to your heirs free of the estate tax, $3.5 million or more per person. ...
Laws that can make you wealthy
Knowledge is power, and the right kind of knowledge, if you know what to do with it, has been and always will be an economic powerhouse for you and your...
Lifetime planning with a twist
For years this column has hammered away at the concept of needing two plans an estate plan and lifetime plan. My point has been, and still is today, that...
Captive insurance cuts business costs
The Internal Revenue Code is not a friendly creature. It is designed to take your money. Yet, there is a section of the Code, Section 831(b), dealing...
How to create an effective lifetime plan
If you die and don't have an estate plan, think of the havoc your family and business will face. I want to give you many reasons to do not only your estate plan, but also an easy-to-do lifetime plan. ...
Thank you to all the ladies
Who do you think calls me the most to do their estate plan or ask me for my opinion on their completed estate plan? Men. Nine out of 10 of them are married,...
Do you want your business to continue?
Most successful business owners (Joe, the business owner from Kansas, will be our example) have two loves in their life: their family and their business....
My take on the future of your liquid capital
This article was written while burning the midnight oil because about 95% of this column's readers, who call me just to ask a question or actually become clients, have investments, and a significant portion of their wealth has been pummeled by the Wall Street meltdown. ...
Some advice to the presidential candidates
Politicians - the Washington gang, including the House, Senate and President - are forever talking about raising or lowering the income tax rate. It's...
Supreme Court Deals Blow to Most 401(k) Plans
Do you own all or part of a business that sponsors a 401(k) plan for your employees? If so, this column is a must read. You won't like the liability position the U.S. Supreme Court has hung over your head. But, as is often the case, adverse circumstances bring opportunity. The end of this column tells you how to take advantage of this opportunity. ...
The Tax Game is More Than Just Beating the IRS
I recently read an article titled What Makes for Success? by Kemmons Wilson, the founder of Holiday Inn. In it he said, It is great to attain wealth, but money is really just one way and hardly the best way to keep score. ...
The Right Way to Value Your Family Business
Do you own all or part of a closely held business? Like it or not, some day you'll have to value that business. ...
Learn the Strategies for Beating the Estate Tax
The typical reader of this column (we'll call him Joe) who calls me for estate-planning help has two basic characteristics: First, he has been successful...
Two very differing business succession plans
It's true: Real life is stranger than fiction. Here are two true client tax stories with almost identical facts involving transferring a family business...
Buy-sell agreements: how to do them correctly
Do you have a buy-sell agreement or are you thinking of signing one? Most buy-sell agreements (B/S/A) happen like this: You meet with a lawyer and have...
Your IRA just got better much better
Three cheers! Now you can, under new rules, use your IRA and other retirement plans to make your children and grandchildren very rich. Later, I will explain...
The great (inadvertent) 401(k) rip-off
Raise your hand if your company has a qualified retirement plan (QRP). Your QRP can be a 401(k), profit-sharing plan, SEP-IRA, pension plan or any one of the many other QRPs. If so, listen up. Chances are this column is going to make you and your employees money lots of money....
How to Win the Life Insurance Tax Game
Enriching the IRS with your life insurance dollars death benefits at your family's expense makes my blood boil. Turning the insurance tax table on the IRS makes me one happy camper. You too can join the tax-saving fun. Become a happy camper....
Turn your home into an investment profit center
The key to successful tax planning is learning how to select the best tax-saving strategies to accomplish your specific goals. My job is easy pick the...
How you can enrich your family and charity too
Patrick Henry once said, I have but one lamp by which my feet are lighted, and that is the lamp of experience. After years of working in the area of wealth...
Think Your Kid's Stock Will Survive A Divorce?
By Irving L. Blackman Tax Authority Are you thinking of transferring stock to your kids, or does one or more of your kids already own stock in your closely...
How the IRS clipped the Yankee Clipper
IT'S JUNE, SO let's talk baseball. Unfortunately, this is a story about a strikeout. Joe DiMaggio, unquestionably one of the great baseball legends of...
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