Seniors can benefit from the economic stimulus law enacted on February 13, 2008, but they need to file an income tax return. Seniors, disabled veterans, and veterans' widows will receive $300 payments if they earned $3,000 in … [Read more...]
How to Avoid Estate Tax
March 4, 2008 by Leave a Comment
Federal tax law allows an unlimited transfer of property to a surviving spouse without imposing any estate tax. This is a result of the "unlimited marital deduction." In addition to the unlimited marital deduction, Federal tax law … [Read more...]
Temporary Capital Gains Tax Break Can Help Seniors
February 6, 2008 by Leave a Comment
Over the next two years, seniors can take advantage of a significant capital gains tax break. From 2008 to 2010, taxpayers in the 10 and 15 percent tax brackets will pay zero percent in capital gains taxes. This means individuals … [Read more...]
Understanding a Caregiver’s Stress
February 6, 2008 by Leave a Comment
A 2003 study of caregivers has proven that the off-repeated adage "stress can kill you" is true. The focus of the investigation was the effect the stress of caregiving had on caregivers. A team of researchers at Ohio State … [Read more...]
What Expenses Can’t a Special Needs Trust Pay For?
February 6, 2008 by Leave a Comment
Special needs trusts are designed to supplement, not replace, the kind of basic support provided by government programs like Medicaid and Supplemental Security Income (SSI). Special needs trusts pay for comforts and luxuries -- … [Read more...]
Long-Term Care Premium Deductibility Limits for 2008
January 7, 2008 by Leave a Comment
The Internal Revenue Service has announced the 2008 limitations on the deductibility of long-term care insurance premiums from taxes. Premiums for "qualified" long-term care policies are treated as an unreimbursed medical expense. … [Read more...]
A New Year’s Resolution
January 7, 2008 by Leave a Comment
It is customary to begin the New Year by tackling first those tasks that have been put off. As the holiday season winds down, why not begin the New Year by getting your estate in order? A revocable living trust might be the estate … [Read more...]
