Author Archives: Cordasco
Is your revocable trust fully funded?
A revocable trust — sometimes known as a “living trust” — can provide significant benefits. They include the ability to avoid probate of the assets the trust holds and facilitating management of your assets in the event you become incapacitated. … Continue reading
Business owners: Now’s the time to revisit buy-sell agreements
If you own an interest in a closely held business, a buy-sell agreement should be a critical component of your estate and succession plans. These agreements provide for the orderly disposition of each owner’s interest after a “triggering event,” such … Continue reading
Joint ownership isn’t right for all estate plans
Generally speaking, owning property jointly benefits an estate plan. Indeed, joint ownership offers several advantages for surviving family members. However, there are exceptions and it’s not the solution for all estate planning problems. 2 types of joint ownership for spouses … Continue reading
Child tax credit: The rules keep changing but it’s still valuable
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over the last six years. This tax break became more generous in 2018 than … Continue reading
Sailing a steady ship in today’s interesting economy
Business owners: If you’re having trouble reading the U.S. economy, you’re not alone. On the one hand, the January 2023 jobs report revealed that the unemployment rate had fallen to 3.4%, its lowest level in 54 years. And inflation, while still a … Continue reading
A single parent’s estate plan should address specific circumstances
According to the Pew Research Center, nearly a quarter (23%) of U.S. children under the age of 18 live with one parent. This is more than three times the share (7%) of children from around the world who do so. … Continue reading
Do you run a business from home? You may be able to deduct home office expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business from home or perform certain … Continue reading
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s when participants take money out of a traditional IRA or other … Continue reading
Addressing IP in an estate plan can be tricky
Over your lifetime, you may have accumulated a wide variety of tangible assets, including automobiles, works of art and property, that you’ve accounted for in your estate plan. But intangible assets can easily be overlooked. Consider intellectual property (IP), such … Continue reading
Getting into data analytics without breaking the bank
Most business owners would probably agree that, in today’s world, data rules. But finding, organizing and deriving meaning from the terabytes upon terabytes of information out there isn’t easy. How can your company harness the power of data without throwing dollars … Continue reading