A good way to help explain an overview of taxes is to look at the five fingers of your hand. There is an “Income Tax” when you earn the money. There is a “Sales Tax” when you purchase an item. There is a “Property Tax” when you purchase some things and hold it. There is... [Read More]
Category: Living Wills
It’s the People, not the Stuff
Love people and use things. Not the other way around. Our relationships are the high points of our lives. That may include our faith relationship. Those relationships are the most precious gifts that we receive. Our sweetest memories we have maybe of our children’s laughter, our friend’s understanding or looking into the eyes of someone who... [Read More]
Home, Sweet Home!
After spending a few days in the Northeast where it was roughly 20 degrees colder, home prices and taxes are at least two times more expensive and there are way more people & more lines I am so much more appreciative of little old Western North Carolina. There are good and helpful people wherever you go, but... [Read More]
Strange Days…
Russia invades Ukraine, a giant jet disappears and Spring never comes to the mountains. Strange things happen that we never anticipate happening. Natural events like unending winters, dangerously aggressive acts by world powers such as invading a neighboring country, and whatever strange events are happening in your own life. We need to be flexible and... [Read More]
The Tax Man Cometh
Again this President seeks to penalize those who have been successful financially. The new proposal from the White House seeks to limit annual gifting to $50,000.00 dollars total per year. Instead of limiting it per individual they’re seeking to limit it to a total of $50,000.00 dollars in the year beginning in 2015. That may... [Read More]
Hang In, Spring is Coming!
Here on the East Coast we have been battered with a tough winter and heavy snows, but we’ve had glimpses of spring weather in the last few days. The forecast is for more cold weather and more snow. We in the South are not set up for snow as local governments do not have a... [Read More]
Snow Storms, Canceled Flights and Life
Recent storms on and around Valentine’s Day grounded thousands of airplane flights and changed even more automobile traveler’s plans. We may plan to take action at a certain time, but events out of our control often preclude us from taking that action. I had airline travel plans but was precluded from taking the trip as... [Read More]
Shirley Temple and Phillip Seymour Hoffman Go Home
We’ve recently seen the passing of Shirley Temple Black the iconic child actress and later Ambassador and the Oscar winning Actor Phillip Seymour Hoffman. Ms. Temple Black passed away at age 85. Actor Hoffman left at the early age of 47. One passed on after a long full life, the other unexpectedly by accidental drug... [Read More]
Portability Remains in Estate Planning
“Portability” is a concept that the IRS allows wherein by filing an Estate Tax Return or IRS Form 706, one may preserve the unused Federal Estate Tax Credit of the first spouse who passes on. The Estate Tax is due when the second Spouse passes on. Each spouse has a Unified Credit amount allowed by... [Read More]
More Mall Shootings Show the Uncertainty of Life
An eighteen year old young man opened fire in a busy Mall in Maryland this past Saturday. Two people were killed before he turned the gun on himself. An hour before the people that were killed in the Mall on Saturday had no idea that their lives were about to end. Hopefully they left their... [Read More]