ABLE Act Enhancements Being Considered

June 28th, 2017  | by Carter Davenport

The Achieving a Better Life Experience Act, better known as the ABLE Act, is potentially going to receive a face lift. The bill was passed in 2014 and allows family members and guardians to open up a tax-free savings account for children with disabilities under the age of 26 without losing any government benefits, i.e….

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So, You Want to Be a Banker?

May 25th, 2017  | by Michael Fisher

A Primer on Loans Between Friends and Family Members The Federal Reserve Board Survey of Consumer Finances estimates that loan transactions between friends and relatives amount to $89 billion per year in the United States. These loans play an important role in our economy and in the lives of the participants as the funds involved…

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New Report Highlights Potential Impact of Federal Tax Reform on Charitable Giving

May 19th, 2017  | by Michael Fisher

This is a follow up to our April 28th post regarding how the tax proposals of the Trump administration might impact charitable giving.  A new report issued by Independent Sector and the Indiana University Lilly Family School of Philanthropy provides valuable insight.  The report found that a combination of several tax reform proposals – including…

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Social Security – Timing is Everything

May 10th, 2017  | by Kim Garcia

While Social Security is not the primary source of retirement income for most Americans, it can serve as an inflation-protected annuity during retirement years. As such, it is important to understand the rules surrounding eligibility and the timing of initiation of benefits.  Prior to the passage of the Bipartisan Budget Act of 2015, married couples…

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Succession Planning for Family-Owned Businesses

April 15th, 2017  | by Ashley Moore Remmers

If you own a business and hope that ownership by your family continues beyond your tenure, there are many questions to consider as you begin to transfer it to another generation. Management Succession First, take an audit of contributing family members to confirm their interest in continuing to work for the business. Consider as well any family members who…

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