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Wednesday June 12, 2024

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Personal Planner

Gift Tax Surprise

Bill: "Every year I pay income tax. And when I pass away my estate will owe tax. But I was absolutely stunned today to hear that I might even have to pay a gift tax! Do you mean that if I give this land to my children, there is yet another tax?" CPA...

Washington News

Will AI Protect Taxpayers from Scams?

At a Inflation Reduction Act industry conference held on June 5, Internal Revenue Service (IRS) Transformation Lead for Notifications and Scams, Kareem Williams, discussed the latest efforts to protect taxpayers. The IRS is exploring options with...

Savvy Living

Can You Stop and Restart Social Security Benefits?

I recently got an unexpected inheritance, and I do not need Social Security income right now. Is it possible to suspend my benefits and restart them at a later age? There are two different options that allow Social Security beneficiaries to reverse...

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