Taxes http://contractormag.com/taxonomy/term/6640/more en How to escape the double tax trap of your qualified plan funds http://contractormag.com/blackman/how-escape-double-tax-trap-your-qualified-plan-funds <div class="node-body article-body">Raise your hand if you have a significant amount of dollars ($400,000 or more) in a profit-sharing plan, IRA, 401(k) or other qualified plan. </div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/blackman/how-escape-double-tax-trap-your-qualified-plan-funds" target="_blank">read more</a></p> http://contractormag.com/blackman/how-escape-double-tax-trap-your-qualified-plan-funds#comments Blackman Taxes Registered User Thu, 07 May 2015 16:15:00 +0000 408191 at http://contractormag.com Tax strategies that turn life insurance lemons into lemonade http://contractormag.com/blackman/tax-strategies-turn-life-insurance-lemons-lemonade <div class="node-body article-body">Did you ever wonder why the rich buy so much life insurance? The answer is in the numbers: The crazy tax law allows you to multiply a small portion of your wealth into millions of tax-free dollars. </div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/blackman/tax-strategies-turn-life-insurance-lemons-lemonade" target="_blank">read more</a></p> http://contractormag.com/blackman/tax-strategies-turn-life-insurance-lemons-lemonade#comments Blackman Taxes Registered User Mon, 06 Apr 2015 16:30:00 +0000 407491 at http://contractormag.com iStock/Thinkstock Most-used tax strategies in 2014 http://contractormag.com/blackman/most-used-tax-strategies-2014 <div class="node-body article-body">Before you start reading this column, let's look back at 2014. Last year is the first year in memory when there was no significant change in the tax law: neither income tax or estate tax. </div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/blackman/most-used-tax-strategies-2014" target="_blank">read more</a></p> http://contractormag.com/blackman/most-used-tax-strategies-2014#comments Blackman Taxes Registered User Fri, 06 Feb 2015 16:33:00 +0000 405591 at http://contractormag.com iStock/Thinkstock How to transfer your business to your kids http://contractormag.com/blackman/how-transfer-your-business-your-kids <div class="node-body article-body">It's December in Chicago: cold, snowy and blustery. What has the winter weather got to do with business succession? It's just too late to get any serious tax planning done. </div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/blackman/how-transfer-your-business-your-kids" target="_blank">read more</a></p> http://contractormag.com/blackman/how-transfer-your-business-your-kids#comments Blackman Taxes Registered User Wed, 07 Jan 2015 16:20:00 +0000 404341 at http://contractormag.com Photo: Adam Gault/Digital Vision/Thinkstock Contractors, small businesses may see positive change from midterm election http://contractormag.com/contractor-marketplace/contractors-small-businesses-may-see-positive-change-midterm-election <div class="node-body article-body">On election day, Nov. 4, small business owners seemed to take interest back, as the political landscape of the U.S. has been rearranged.</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/contractor-marketplace/contractors-small-businesses-may-see-positive-change-midterm-election" target="_blank">read more</a></p> http://contractormag.com/contractor-marketplace/contractors-small-businesses-may-see-positive-change-midterm-election#comments Contractor Marketplace Law Taxes Thu, 06 Nov 2014 17:31:00 +0000 38101 at http://contractormag.com <p>The 2014 Election results are in; small businesses and contractors may have plenty to celebrate.</p> Thinkstock <p>The 2014 Election results are in; small businesses and contractors may have plenty to celebrate.</p> Thinkstock Mike Bohinc, CPA, tells how contractors should prepare for the next tax season http://contractormag.com/video/mike-bohinc-cpa-tells-how-contractors-should-prepare-next-tax-season <div class="node-body video-body">It's April 17, tax season is over and plenty of contractors were scolded by their accountants. So what should contractors do to prepare for next year?</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/video/mike-bohinc-cpa-tells-how-contractors-should-prepare-next-tax-season" target="_blank">read more</a></p> http://contractormag.com/video/mike-bohinc-cpa-tells-how-contractors-should-prepare-next-tax-season#comments Video Taxes Thu, 17 Apr 2014 19:11:00 +0000 32901 at http://contractormag.com Estate plan can be your best investment http://contractormag.com/blackman/estate-plan-can-be-your-best-investment <div class="field-byline"> IRVING L. BLACKMAN TAX AUTHORITY </div> <div class="node-body article-body">All estate plans are not created equal. This article is targeted to help everyone who has a completed estate plan in place, but is not 100% delighted with the plan.</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/blackman/estate-plan-can-be-your-best-investment" target="_blank">read more</a></p> http://contractormag.com/blackman/estate-plan-can-be-your-best-investment#comments Blackman Taxes Wed, 01 Feb 2012 17:00:00 +0000 8111 at http://contractormag.com Help your CPA help you http://contractormag.com/columns/blackman/help-cpa-1111 <div class="field-byline"> IRVING L. BLACKMAN TAX AUTHORITY </div> <div class="node-body article-body">This article is about a simple strategy that few CPAs, lawyers and other professionals know exists. As you are about to learn when this strategy is used, those clients and their families who use it enjoy a huge increase in the amount of their wealth, tax-free, and no additional out-of-pocket cost.</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/columns/blackman/help-cpa-1111" target="_blank">read more</a></p> Blackman Taxes Tue, 01 Nov 2011 16:00:00 +0000 5302 at http://contractormag.com The four-month estate tax cure http://contractormag.com/columns/blackman/four-month-estate-tax-cure-1011 <div class="field-byline"> IRVING L. BLACKMAN TAX AUTHORITY </div> <div class="node-body article-body">My motivation for writing this article is to comment on the don’t-ever-seem-to-get-done work of many real-life lawyers, particularly those who specialize in estate planning. I’ll bet the farm that at least one-half of you reading this column, who did estate planning, can relate to the example that follows (true and unfortunately, often repeated).</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/columns/blackman/four-month-estate-tax-cure-1011" target="_blank">read more</a></p> Blackman Taxes contractormag.com/columns contractormag.com/columns/blackman contractormag.com/taxes estate planning estate tax Irving Blackman Sat, 01 Oct 2011 16:00:00 +0000 2729 at http://contractormag.com A marriage made in tax heaven http://contractormag.com/columns/blackman/marriage-tax-heaven-0911 <div class="field-byline"> IRVING L. BLACKMAN TAX AUTHORITY </div> <div class="node-body article-body">Well, maybe there is something new under the sun. Readers of this column know that your author often writes separate articles about the tax magic of an ILIT (irrevocable life insurance trust) and an IDT (intentionally defective trust).</div> <div class="og_rss_groups"></div><p><a href="http://contractormag.com/columns/blackman/marriage-tax-heaven-0911" target="_blank">read more</a></p> Blackman Taxes contractormag.com/columns contractormag.com/columns/blackman contractormag.com/taxes IDT (intentionally defective trust) ILIT (irrevocable life insurance trust) Irv Blackman Thu, 01 Sep 2011 14:49:00 +0000 3392 at http://contractormag.com