Retirement

3 Tax Benefits the 50+ Crowd Enjoys

Posted on: August 10th, 2016
Although many tax regulations fluctuate based on the taxpayer’s adjusted gross income, some tax provisions are instead based on the taxpayer’s age. Knowing when an individual will enjoy certain tax benefits can help to guide tax planning. North Carolina taxpayers aged 50 and older enjoy several tax advantages....

Inherited IRA Ruling: Distinctions Between Federal and State Tax Law

Posted on: July 22nd, 2016
Our attorneys strive to share notable rulings and case law to help clients and other advisers understand how a court or officials might respond to a particular set of circumstances. In early June 2016, Private Letter Ruling 201623001 rejected a woman’s request to rollover part of her son’s inherited IRAs....

New Larger Tax Deduction for LTC Insurance

Posted on: March 28th, 2016
The unpredictable rises in LTC insurance costs make it difficult for individuals to forecast and plan. However, there are a few tax deductions available. Plus, the IRS recently announced an increase for the federal LTC insurance deduction in the 2016 tax year. ...

Why Renting is an Attractive Option for Seniors

Posted on: February 16th, 2016
Older adults now make up a significant share of tenants. Adults ages 45-64 account for 30.2 percent of tenants....

Start Alzheimer's Legal Planning

Posted on: January 20th, 2016
Waiting to develop a legal plan for an aging relative with cognitive decline might result in the elderly person's incapacitation. Then it might be too late for them to execute legal documents independently....

3 Tax Planning Steps for the New Year

Posted on: November 27th, 2015
Common tax planning strategies include retirement contributions, family gifting, and making charitable donations. Outlined below are a few alternative planning steps to consider in the New Year....
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