Monday, February 1, 2021
Excess Deductions – Part 2 Now that you have read Part 1 of this article, regarding how your distribution from an estate could have resulted in an excess deduction, your next question might be, "How do I take the deduction?" You...
Read More
Monday, January 18, 2021
Distributions From an Estate or Trust Have you received an inheritance? People often ask, "Is it taxable?" but rarely ask, "Is my inheritance a tax deduction?" When considering estates that mainly consist of real estate, such as the...
Read More
Friday, November 20, 2020
If your business is not a partnership or S corporation, this may be the time to consider changing. If you are already a partnership or S corporation, we have good news! The IRS is now allowing a workaround of the $10,000 limitation on...
Read MoreWhat is a Roth? A Roth account is an extremely powerful tax tool, which could substantially reduce your lifetime tax burden. Your typical qualified retirement plans are pre-tax, such as when you contribute to your employer’s...
Read More
Wednesday, February 26, 2020
The SECURE Act and use of Conduit Trusts in Estate Planning One of the biggest changes for 2020 is the SECURE Act. While not as big as the Tax Cuts and Jobs Act (TCJA), there are a number of changes that affect retirement and estate...
Read More
Monday, January 27, 2020
#1 – Introducing the Bestgate Wealth Blog Welcome to the Bestgate Advisors blog! Our first post will address the Who, the Why, and the How of Bestgate. WHO WE ARE Bestgate Wealth Advisors is a fee-only fiduciary wealth management...
Read More