Retirement Watch Weekly
Little-Known New Tax Laws
The American Jobs Creation Act is a major tax law enacted quietly just before the elections. While primarily a corporate tax law, several provisions affect individuals and small businesses. Sales tax. In 2004 and 2005, individual taxpayers who itemize deductions have the option of deducting either state and local sales taxes or state and local […]
Tapping that New Real Estate Wealth for Estate Planning
Managing the equity in appreciated homes and second homes has become a pleasant and unexpected challenge for many. Especially on the coasts, residential real estate values soared the last five years. Suddenly owners, especially long-time owners, have properties that are more valuable than they imagined. For many families, real estate wealth exceeds the value of […]
How to Reduce Taxes by Passing Up Some Deductions
In early October, Congress voted to extend for another year the higher exemption amounts for the AMT that were enacted in the 2003 tax law. The exemptions were to expire at the end of 2004. Yet, many of you still are likely to be snared by the AMT. You need to carefully review your finances […]
Estate Planning Strategies For Winning The Trust Revolution
There’s a revolution taking place in trusts used for estate planning, and just in time. Trust use is soaring. Trusts are used frequently by middle class people, not only by the ultra-wealthy. The centuries-old law of trusts is changing in many states. Many of the alterations provide more protection and flexibility for estate owners. But […]
Update: The John Unitas Estate and the Family Business Risk
The Johnny Unitas saga continues. A few months ago I wrote about how the NFL Hall of Famer’s inadequate estate plan caused divisions in his family and put the family business at risk. Things have gotten worse. John Unitas, Jr. won the latest round of court battles. The court ruled that he was supposed to […]
Growth Strategies for a Flat Market
Have you earned 0% or even lost money on your investments over the last five years? Most investors aren’t as fortunate as we have been. The major stock indexes are about where they were five years ago. Anyone who follows the conventional buy-and-hold index investing strategy has no net gains or modest losses to show […]
Don’t Overpay for Medigap
Medical care expenses are rising. Many retirees compound the problem by paying more for medical expense coverage than they should. The premiums on Medicare are increasing by 17.4% for 2005. You can’t do anything about that. But most people on Medicare also purchase Medicare supplement (or Medigap) insurance policies. Too many of these people overpay […]
How to Protect Your Home from Extreme Weather
Hurricanes swept the east coast, giving many residents an education in homeowners’ insurance. You should get used to it. Weather forecasters say we probably are in a cyclical period of increased hurricanes and other extreme weather. Every homeowner should know the extent, and limits, of coverage for damage from extreme weather. What is covered? Insurance […]
