Harvey was recently quoted by Forbes in an article entitled: The Money Conversation 18 Million Unmarried Americans Need To Have. For a variety of reasons, in certain relationships it’s better and safer to keep finances separately. This applies to cohabitation relationships and married couples who have decided to divorce. Read Harvey’s take on this very Read more about In the News: Forbes[…]
The type of IRA one chooses has major tax and estate planning implications. In a previous article, I looked at the advantages of Self-Directed IRAs, noting that they are best suited for risk-tolerant, exceptionally knowledgeable investors. By contrast, a strong argument can be made that creating a Roth IRA is a wise choice for everyone, Read more about Everyone Should Have a Roth IRA[…]
Harvey was recently quoted by CBS News in an article entitled: Tax Avoidance by the Ultra-Wealthy is Perfectly Legal – CBS News The very recent New York Times article attacked the Trump family (Fred Trump, the President’s father) for using aggressive tax planning tactics which are, in fact, entirely legal. These techniques, including the Grantor Read more about In the News: CBS News[…]
For most people, an IRA is a “set it and forget it” portfolio item. Contributions to the account are usually automated, and the investments making up the IRA—typically stocks, bonds, CDs, and mutual funds—require little account holder oversight. That’s all fine and good, but limited risk means limited returns. For those who want to take Read more about Using a Self-Directed IRA to Grow Your Retirement Nest Egg[…]
When the U.S. Supreme Court issued its 5-4 decision on South Dakota v. Wayfair Inc., the days of dodging sales tax by shopping online came to an end in America, with a few minor exceptions. Twenty years ago, such a change in e-commerce tax rules would have sent shockwaves across the still-novel Internet. Yet the Read more about New Internet Sales Tax Rules – Is Wayfair Way Fair or Way Unfair?[…]
A Life Estate is a simple, best-of-both-worlds tool that includes an ironclad guarantee that the current owner of a home (the life tenant) will never jeopardize his or her lifetime right to occupy and enjoy the home, and provides for a swift and effortless transfer of the home when the life tenant passes away. What Read more about Using a Life Estate Deed for Lifelong Security and Tax Savings[…]
A well-structured estate plan facilitates the smooth and efficient transfer of assets to a decedent’s heirs without the long, grueling process known as probate, and ensures that loved ones are well provided for financially. What Is Probate? Derived from a Latin word meaning to prove, probate is the formal legal process through which the validity Read more about The Best Ways to Avoid Probate and Streamline Estate Transfer[…]
Harvey was recently quoted in a MarketWatch article entitled “Tax and financial adviser to the stars offers 5 down-to-earth money tips.” If you call Harvey an accountant he may be insulted. Why? Because he is no ordinary CPA. He is an elite Financial “Fixer” and is known in the business world and the media as The Read more about In the News: MarketWatch[…]
I have previously written about the benefits of forming an LLC for golf cart and other asset/vehicle ownership as an asset protection strategy to insulate your accumulated personal wealth. A properly established LLC or corporation exists as a separate entity from its members or owners for both legal and tax purposes. The resulting asset protection Read more about The IRS Alter Ego Doctrine and Piercing the Corporate Veil[…]