by Marilou Davido | Jan 18, 2022 | Resources
Lifetime Estate and Gift Tax Exemption If one gifts an amount that is above the annual gift tax exclusion ($19,000 for 2025), he or she will use a portion of his or her lifetime unified estate and gift tax exemption ($13.99 million for 2025). The increase of the...
by Marilou Davido | Jan 12, 2022 | Resources
For more information on Revocable Living Trusts from @uwmadison, click here.For more information on Irrevocable Living Trusts from Kiplinger, click here. What Is A Trust? A trust is a legal entity that allows a person to transfer assets to another person for...
by Marilou Davido | Dec 29, 2021 | Resources
The interest rate on US Treasury Series I Savings Bonds are comprised of two components: fixed rate and variable inflation rate. Both components are redetermined every six months by the US Treasury and apply to I Bonds purchased/issued during that six-month period....
by Marilou Davido | Dec 28, 2021 | Resources
We’ve discussed some tips for Individual Tax Returns. Now, we’re highlighting Tax Tips for small businesses, specifically Schedule C and E. For more help reviewing the corporate structure of your business or for help filing taxes, give us a call at...
by Marilou Davido | Dec 24, 2021 | Resources
Home Equity Line or Cash Out Refinance? The HELOC (home equity line of credit) is a very common loan to consider, especially when a homeowner has significant equity in their home. Read on for the pros and cons of a HELOC, compared to a cash-out refinance mortgage to...
by Marilou Davido | Dec 18, 2021 | Resources
This is a federal income tax concept. Generally, taxable unearned income (interest, dividend, capital gain, and rental income) received by a dependent may be taxed at the parent’s tax rates. This is known as Kiddie Tax. A dependent is anyone who isn’t required to file...
