Before Doing Your Taxes, Gather These Documents
Whether you hire a professional or do it yourself, you need certain information and documentation to file your tax return. Here’s a list of items taxpayers commonly need to complete the…
Kay Bell
Posts by Kay Bell:
Estate Tax: Definition, Tax Rates and Who Pays in 2020-2021
The estate tax is a tax on a person’s assets after death. In 2021, federal estate tax generally applies to assets over $11.7 million. Estate tax rate ranges from 18% to…
Making a Will Online: 3 DIY Options
A will ensures your possessions go to the right people after your death. You must compose yours carefully, but if your personal situation and estate aren’t complicated, you might be…
Revocable Living Trusts, Revocable Trusts & Living Trusts: Do I Need One?
In estate planning, revocable living trusts or revocable trusts are commonly referred to as simply “living trusts.” Living trusts refer to trusts established during one’s lifetime, as opposed to testamentary…
What Is a Living Will?
A living will sounds very similar to a last will and testament, but it serves a different purpose. Your living will puts into writing what steps you want your doctors to…
What Is a Power of Attorney?
A power of attorney is a legal document that gives a person the authority to act on another’s behalf. Because life events can spur the need for a power of attorney for…
How Long Should You Keep Tax Records?
Keeping your tax returns and the documents you used to complete them obviously is critical if you’re ever audited. The statute of limitations on IRS audits is a key factor…
What Is Probate and How Can You Avoid It?
The last thing anyone wants to think about after a loved one passes away is probate, or the process of distributing the deceased’s property. While probate isn’t always complex, it…
When Are Taxes Due? May 17, 2021 Tax Day & Tax Deadline
When is tax day? Tax day is Monday, May 17, 2021. This is the tax deadline to file your federal income tax return. The IRS extended the deadline from April 15,…
HSA Taxes, FSA Taxes & How They Work in 2021
Medical expenses can take a big bite out of your wallet. But two special accounts — the flexible spending account (FSA) and health savings account (HSA) — can be good remedies…
