Although the Tax Cuts and Jobs Act took much of the “teeth” out of the AMT by raising the inflation-adjusted exemption, high-income earners (and even some middle-income earners) should still watch out for its bite. This article discusses the basic rules and the role of itemized deductions. A sidebar warns investors that capital gains can trigger the AMT.
Generally, it’s recommended that individuals review their estate plans at year’s end. However, with a life shock as monumental as the COVID-19 pandemic, it might be a good idea to get an earlier start. This article provides examples of potential revisions and discusses wills and powers of attorney.
Many people assume that a 529 plan is the ideal college savings tool. But other vehicles can help parents save for college expenses — for example, the Roth IRA. This article compares key features of the two account types.
The COVID-19 pandemic has provided many lessons for business owners. One is how to report the impact of a disaster on a company’s financial statements. This brief article discusses two types of “subsequent events” that may need to be disclosed.