Have a foreign account? File an FBAR
Any U.S. person who has a financial interest in, or signature or other authority over, any foreign financial accounts must file a Report of Foreign Bank and Financial Accounts (FBAR) …
What’s your financial personality?
We all want to keep our finances on track, but doing so can be difficult without a clearly expressed plan. Everyone’s strategy doesn’t have to be complex, but it does …
No Fear of Clawback on Gift and Estate Tax
The Tax Cuts and Jobs Act temporarily doubled the federal gift and estate tax exemption through 2025. Adjusted for inflation, the exemption currently allows an individual to transfer up to …
Intrafamily Loans and a Family Bank
Among the primary goals of estate planning is to put in writing how you want your wealth distributed to loved ones after your death. But what if you want to …
Beware of “Wash Sales” When Selling Securities
If you’re planning to sell capital assets at a loss to offset gains that have been realized during the year, it’s important to beware of the “wash sale” rule. Under …