Category: Uncategorized

The Tax Foundation publishes tax freedom day for every state.  You can read the report yourself here. The calculation takes into account all federal and state taxes.  Unfortunately, the day is 3 days later than last year. Tax Freedom day in […]

My brother had Mom change the title to her house to his name.  He then had her change the title on all her accounts to joint with himself.  He then had her change the beneficiary of her IRA to himself. […]

NY used to be a very expensive place to die.  As of March 31, less so. The federal law allowed you to pass $5.25M tax free.  NY was only at $1M.  NY topped that off with estate tax rates that […]

Wills vs Trusts In general, Wills are usually easy and cheaper up front, but more effort and expense later on, while Trusts (also know as Revocable Living Trusts or RLT) are more work up front, more expense up front, and […]

You can boost your annual Social Security benefit through a fancy strategy often referred to as delayed filing. Your Social Security Benefits are calculated using a formula called the primary insurance amount, or PIA. The way it works is that […]

In the past, it has been Medicare’s position that patients will be denied coverage for therapy services because they are not improving. Fortunately, in January, they changed the rule to eliminate any requirement that improvement is necessary to receive coverage […]

I’ve had clients who hid money offshore and didn’t pay tax on it.  They were evading taxes on purpose.  I didn’t like those guys and dropped them as clients. However, most of my clients have had “inadvertent” issues. Let’s see […]

The states pay a portion of all Medicaid costs.  Medicaid is the program that pays for nursing homes when you can’t because you don’t have the money.  (The other program is Medicare (confusing isn’t it) which pays for your medical expenses over […]

Another Tax Proposal which is dead on arrival came from the White House yesterday. It was contained in the White House FY 2015 budget proposal.  It includes tax increases  targeting multinational corporations and high-income individuals.  These tax increases are used […]

Surprisingly, the answer is, maybe. The first big eye opener is that CT has law which makes children responsible for their parent’s care, until the parent reaches age 65.  CGS Sec. 53-304.  Not only can they make you pay, they […]