The Kiddie Tax can apply to the unearned income of children. Read on to learn if this tax applies to you or your children. Also, learn ways to avoid the Kiddie Tax. Kiddie Tax is Worse Than Ever … [Read more...] about Kiddie Tax is Worse Than Ever
The recent tax law temporarily doubled the estate tax exemption. That doesn’t mean there’s no need for estate planning. Estate plans consider many important aspects, not just estate taxes. This article examines some of the many considerations besides estate taxes. Estate Planning: It’s Not Just About the Estate Taxes … [Read more...] about Estate Planning: It’s Not Just About the Estate Taxes
It can sometimes seem as though you are taxed at every turn, and taxation potentially comes into play when you are planning your estate. We will look at the matter in this post. Inheritance Recipients If you are the recipient of an inheritance, do you have to pay income taxes on this windfall? This is certainly a good question. Generally speaking the answer is no, you do not have to report an inheritance on your annual income tax return. There is however a caveat with regard to the … [Read more...] about Do I Have to Pay Taxes When Someone Leaves Me Money?