Tag Archives: Taxes

Kelly Answers the $64 Question

Posted on June 5, 2014 by Kelly

Did you know that The $64 Question was a popular radio quiz show? During the 1940s, “That’s the $64 question” became a common catchphrase for a particularly difficult question or problem.  When the show moved to television, it became The $64,000 Question! Recently, … Continue reading →

Posted in Four-Cast | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Introducing the IRA Inheritance Trust! (Part 2)

Posted on March 6, 2014 by Kelly

In my last blog, I discussed the beneficial use of an IRA Inheritance Trust to ensure your beneficiaries maximize the power of inherited retirement accounts through compounded tax-free growth and less income taxes being due each year distributions are taken … Continue reading →

Posted in Retirement | Tagged , , , , , , , , , , , | Leave a comment

Introducing the IRA Inheritance Trust! (Part 1)

Posted on March 4, 2014 by Kelly

You may know the difference between a Last Will & Testament and a Revocable Living Trust, but did you know there is a special trust specifically for retirement accounts? Don’t make the faulty assumption that your Revocable Living Trust will … Continue reading →

Posted in Retirement | Tagged , , , , , , , , , , , | Leave a comment

Commonly Overlooked Tax Deductions

Posted on February 27, 2014 by Kelly

If you’ve been watching television lately, chances are you’ve seen the commercial with the concessions salesperson leaving a stack of money on every seat in the stadium… H&R Block’s assertion that self-filing taxpayers last year paid more than a billion … Continue reading →

Posted in Legislation | Tagged , , , | Leave a comment

2014 Tax Filing Requirements for Seniors

Posted on February 25, 2014 by Kelly

Chances are, if you recently retired, your correlating decrease in income may alleviate you from having to file taxes in future years.  For this tax season, if your gross income from 2013 is less than the following amounts (depending upon … Continue reading →

Posted in Retirement | Tagged , , | Leave a comment

IRS Issues 2014 Long Term Care Premium Deductibility Limits

Posted on December 30, 2013 by Kelly

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2014 taxes as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent … Continue reading →

Posted in Elder Law & LTC Planning | Tagged , , , | Leave a comment

Ten Year-End Financial Considerations for Near-Retirees

Posted on December 23, 2013 by Kelly

Want to find out how you may be able to save approximately $1,000 this year, without even having to buy a lottery ticket? Well, it may take you a couple of hours to sit down and contemplate, but here are … Continue reading →

Posted in Retirement | Tagged , , , , , , , | Leave a comment

Governor Signs Tax Changes Into Law

Posted on July 24, 2013 by Kelly

A compromise tax reform bill was signed by both houses of the North Carolina General Assembly and signed into law by Gov. Pat McCrory on Tuesday. The final bill cuts taxes for both individuals and businesses while still achieving Gov. McCrory’s … Continue reading →

Posted in Estate Planning & Administration, Estate Tax, Legislation | Tagged , | Leave a comment

What does the DOMA Decision Mean?

Posted on July 1, 2013 by Kelly

There’s been a lot of news coverage surrounding the Supreme Court’s decision on June 26, 2013, of the U.S. v. Windsor case.  Most people are more familiar with the colloquial reference to the case as the “DOMA case.”  However, what … Continue reading →

Posted in Estate Planning & Administration | Tagged , , , , | Leave a comment

Have you Named your Life Insurance Beneficiaries?

Posted on June 4, 2013 by Kelly

In financial planning, one of the first things young parents do is buy life insurance to ensure their family is properly taken care of, should something happen to one of the parents.  After all, who doesn’t want to take care … Continue reading →

Posted in Estate Planning & Administration | Tagged , , , , , | Leave a comment