A very common question that we frequently receive from clients is “If I want to make a cash gift to my kids, do I have to pay gift taxes?” The answer to that question depends on number of items such as: The amount of the gift Your lifetime exclusion limit...
When you sell your primary residence, and meet certain requirements, you may be able to exclude all or a portion of your capital gain in the property from taxes. In this article, I am going to cover the $250,000 capital gains exclusion for single filers, and...
When a family member has a health event that requires them to enter a nursing home or need full-time home health care, it can be an extremely stressful financial event for their spouse, children, grandchildren, or caretaker. The monthly cost of a nursing home...
When we are assisting clients in building their personal financial plan, inevitably one of the most frequent questions that comes up is: “How much life insurance should I have?” It’s an important question to ask because if something unexpected were to...
Due to the rapid rise in the unemployment rate as a result of the Coronavirus, Congress passed the CARES Act which includes a provision that provides mortgage relief to homeowners that have federally-backed mortgages. Homeowners are eligible for a 180 day...
The U.S. Senate recently passed the CARES Act which was put in place to help stabilize the economy in the wake of the Coronavirus containment efforts. One of the key items in the bill are the stimulus checks that the IRS will issue to individuals and their...
