Tag Archives: Taxes

Business Succession Planning: Don’t Make Excuses, Make Plans

by Brittiny B. Razzano Originally published in the Saratoga Business Journal. Excuse Number 1: Too Busy¬† As a successful business owner, you may have your hand in the day-to-day operations and management of your business.¬† It seems like there is never enough time to sit down and formulate a plan for your business when you […]
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Important Tax Figures for 2016

The following table provides some important federal tax information for 2016, as compared with 2015. Many of the dollar amounts are unchanged or have changed only slightly due to low inflation. Other amounts are changing due to legislation.  

Capital Gains: To Gift or Not to Gift?

by Brittiny B. Razzano Originally published in the Saratoga Business Journal. What is a capital gain? Generally, a capital gain results from a sale of an asset, such as a stock, at a higher price than the owner originally paid. What the owner paid for the asset is known as the cost basis. If the […]
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What Are the Main Reasons People Create Trusts?

People create trusts for various reasons. The main reasons are to: Avoid probate; or Pay less in federal and/or state estate taxes. This article will discuss the uses of trusts in estate planning and whether they are right for you. Avoiding Probate People who desire to avoid probate usually want to do so because they: […]
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Seven Non-Tax Reasons to Create a Trust

Using trusts as an estate planning tool is often done to achieve tax savings. By setting up certain types of trusts, a high-net-worth individual can avoid exposure to estate taxes levied by the federal and state governments. While this is an important consideration if your estate is likely to be liable for death taxes, there […]
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