Tax Planning

Most people will not have to worry about paying estate taxes because the threshold is so high. But estate taxes are not the only taxation that may occur on your estate after your death. Your heirs may also face taxes on their inheritance. So, if you want to minimize...

One aspect of estate planning to consider is the taxes that your heirs will pay upon your death. Taxation can happen at various levels and in multiple ways. You should also plan with taxes in mind. One tax in New Jersey is the inheritance tax. This is a payment on the...

In New Jersey, business owners and people of means who are thinking about their taxes should be prepared for every eventuality. This is especially true when lawmakers are considering raising taxes for various programs. Depending on the political viewpoint of those in...

As an independent contractor, you have the responsibility to handle all income tax liabilities. The company with which you work will not pay the normal employer portion of taxes, which means you must do that when filing your taxes each year. SmartAsset explains you...

As a New Jersey resident, you may create a will, bequeathing your assets to family members, friends and charities. However, that may leave them subject to the inheritance tax, which can become costly. However, you can take steps that minimize or avoid the tax...

As you go about creating and implementing your estate plan so as to minimize your estate tax exposure and your heirs’ inheritance tax exposure, you likely think in terms of the federal taxes. You should not forget, however, that New Jersey taxes come into play as...

There are few if any universal truths when it comes to estate law. However, whether you are currently in the process of working through an inheritance or you are planning for your own family's future, tax is likely to be a major concern. When it comes to selling...

One of the most important elements of estate planning is ensuring that upon your passing, your beneficiaries in Morristown are not left having to deal with a large number of liabilities facing your estate. Thus, you may plan to settle your outstanding debts and even...

When most people plan for retirement, tax planning is not one of their major concerns. After all, paying taxes might seem like an unavoidable consequence of earning money. This is true, but there are ways to reduce your tax debt in retirement. If you manage to...

Running a business without a plan is likely to result in one's company being run into the ground. Flying by the seat of one's pants may not help produce the successful business one wants. So business planning is essential, as many company owners in New Jersey know,...