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New Income Tax Law Changes – What You Need To Know

October 15, 2021

The new income tax law changes will affect your financial plans whether you are an unmarried, married individual, trust, or estate with taxable income. It is important to understand the new tax rate and how it will affect your long-term and short-term financial goals. Here is what you need to know about the new income… Read more »

What is Legacy Planning?

October 13, 2021

Legacy planning encompasses the financial, legal, and emotional aspects of preparing for death. It’s important to take care of your family’s well-being after you’ve passed away by making sure their needs are met. One common way to do this is through a will or trust because it outlines who gets what assets when someone passes… Read more »

Planning a Special Needs Trust

October 08, 2021

Special needs trusts can be intimidating to navigate for many people. You may assume that the trust can put the beneficiary’s eligibility for income-restricted programs or services at risk. Fortunately, there are several benefits that it offers and a few reasons why it’s important to establish the special needs trust as soon as possible. Trusts… Read more »

New Income Tax Law Changes – What You Need To Know

October 05, 2021

The new income tax law changes will affect your financial plans whether you are an unmarried, married individual, trust, or estate with taxable income. It is important to understand the new tax rate and how it will affect your long-term and short-term financial goals. Here is what you need to know about the new income tax… Read more »

Will the Debt Ceiling Crisis Impact Your Finances?

October 03, 2021

Will the Debt Ceiling Crisis Impact Your Finances? Lawmakers have less than three weeks to raise the debt limit or risk a first-ever default, which would trigger a broad market sell-off and put a stranglehold on everything from government payments to the ability to borrow. If lawmakers in Washington are unable to resolve the debt… Read more »

Proposed Tax Code Changes Will Impact Estate Planning

September 29, 2021

As part of the proposed Build Back Better Act, there are significant changes to the Tax Code that will effect common estate planning techniques, including gifts to trusts. This is a quick overview of the changes, which include lowering of the estate, gift, and generation-skipping transfer (also known as “transfer tax”) exemptions. Lower Gift and… Read more »

What are trusts and what benefits do they offer?

September 23, 2021

A Quick Overview of Trusts A trust is a plan to take care of the people you love when you’re no longer around or lack capacity to assist them. Traditionally, a trust is used for minimizing estate taxes and can offer other benefits as part of a well-crafted estate plan.  In more specific terms, a… Read more »

Reading The Tea Leaves of Taxation

November 23, 2020

By: Anthony J. Madonia Over the past few weeks, I have watched several webinars, and read countless articles, on what may or may not happen to tax rates and deductions in the near future. At first, there was great debate about the presidential election. Now that Joe Biden will be our president, there has been… Read more »

Revisiting the SECURE Act

November 23, 2020

By: Elizabeth Morataya The Setting Every Community Up for Retirement Enhancement Act or better known as the SECURE Act (the “Act”) was signed into law by President Trump on December 20, 2019.  Most changes under this Act went into effect on January 1, 2020, which did not leave a great deal of time for people… Read more »

Starting a New Small Business in Chicago

November 13, 2020

 It is always the desire of many people to start their own businesses. However, it is important to note that there are several things that come into play.  For example factors such as liability protection, organizational structure, ability to raise capital, customer acquisition strategies should all be considered.  There is a long list of tasks… Read more »

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