Category Archives: Affluent Families

I Received an Inheritance. How Is This Money Taxed?

The amount of federal estate tax typically is determined by the amount of assets within the estate and your relationship to the deceased. Spouses and Nonspouses Spouses typically may inherit

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IRS—O Retirees— 1 IRS Forced to Change IRA Rollover Rule

In January of this year the U.S. Tax Court ruled that the "once a year" IRA rollover rule applies to all of an individual’s IRAs, not to each separately. The

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Retirement Confidence Recovering Nicely

The Employee Benefit Research Institute’s (EBRI) annual Retirement Confidence Survey found a marked increase in retirement confidence among workers with higher household incomes who also participate in one or more

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Four Tips for Tax-Savvy Investors

A century ago, author Mark Twain wrote that the difference between a taxidermist and a tax collector is that the taxidermist only takes your skin. Today, the IRS isn’t any

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IRS audits: 8 triggers to avoid and tips to help you survive

Ever wonder how the Internal Revenue Service selects which taxpayers to audit? Well, it isn’t always a matter of chance. There are certain factors that can make your tax return

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Responsible Financial Parenting

Today, many families are concerned about the potentially adverse effect of wealth on the financial values of their younger generations. The goals that many affluent parents and grandparents have set

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Working Past Your Normal Retirement Age

The Great Recession has many older Americans considering the prospects of staying in the workforce past their normal retirement age. But working past your normal retirement age is not a

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Don’t Let Crooks Steal Your Tax Refund

Between 2011 and the end of 2013, the IRS says the agency caught and stopped 14.6 million suspicious returns, and doubled indictments and sentencings in fiscal year 2013. Criminals acquire

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Does Your Portfolio Reflect Your Risk Tolerance?

When it comes to investing, many people associate risk with losing money. But investing entails different types of risk. Understanding each type of risk and the potential return associated with

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Recognizing Online Scams

According to the Federal Trade Commission (FTC), identity theft is the fastest growing crime in America, affecting nearly 10 million people each year. This crime occurs when a thief obtains

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