President Biden’s recent tax reform proposal has sparked discussions about …

Estate planning is a complex endeavor, and one of its most intricate components is the "step-up in basis." This mechanism can significantly influence the after-tax value of assets, especially when considering the difference between a full and partial step-up. Financial advisors play a pivotal role in guiding clients through this maze, ensuring they maximize their wealth for themselves and their heirs.

Navigating the world of taxes as an artist can seem daunting, but it's a crucial aspect of your financial success. As an artist, you're essentially running a business, and this comes with certain tax implications. Your income isn't only derived from the sale of your artwork; it may also come from teaching, commissions, royalties, and grants. All these income sources are taxable and must be reported on your tax return.

This comprehensive guide provides an in-depth understanding of Donor Advised Funds (DAFs), a unique philanthropic tool that allows donors to make tax-deductible donations, maintain advisory privileges, and manage their charitable giving flexibly and efficiently. However, potential donors must consider certain drawbacks such as limited control, administrative fees, and minimum contribution requirements, and are advised to consult with financial professionals to ensure DAFs align with their financial and charitable goals.

As a financial advisor, it is crucial to stay informed …

Taxes are an inevitable part of investing in real estate. You can, however, defer or avoid paying capital gains taxes by following some simple rules of a 1031 exchange. Yes, you read that correctly!