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What's New

February 2017

Do You Need an Estate Plan?

Anyone who owns property -- a home, a car, a bank account, investments, business interests, a retirement plan account, collectibles, personal belongings, etc. -- needs an estate plan...

IN DOWN YEARS, NOL RULES CAN OFFER TAX RELIEF

A net operating loss (NOL) occurs when a business’s operating expenses and other deductions for a particular year exceed its income. Companies (or owners) may be able to snatch tax relief from this revenue defeat. This article describes the NOL rules and some strategies for navigating them. A sidebar looks at how NOLs work in relation to the alternative minimum tax.

ASKING THE RIGHT QUESTIONS ABOUT LONG-TERM CARE INSURANCE

Unfortunately, many people require long-term care at some point in their lives. To hedge against this considerable financial risk, insurers offer long-term care coverage. This article asks a couple of important questions about these policies, including how to determine whether you really need one and when to buy.

RENTING OUT YOUR VACATION HOME? ANTICIPATE THE TAX IMPACT

When buying a vacation home, the primary objective is usually to provide a place for many years of happy memories. But you might also view the property as an income-producing investment and choose to rent it out when you’re not using it. Let’s take a look at how the IRS generally treats income and expenses associated with a vacation home.

THOUGHTS AND MUSINGS ON FAMILY BUDGETING

Simplicity is the key to a successful family budget. But every budget needs to cover all necessary items. To find the right balance, your budget should address two distinct facets of your family members’ lives: the near term and the long term.