The Blunt Bean Counter

It is with mixed feelings that I write this post. It will be my last one. I have written this blog for fourteen years starting with my first post on September 20, 2010, appropriately titled “Let’s See Where This Goes”. After 638 posts, I am saying goodbye...

In my last blog post, I discussed that for tax and estate planning purposes, you should estimate your current estate tax liability and then plan how your estate will cover off this liability (which in many cases is an ever growing tax liability). Today...

Since retiring from public accounting, I am working part-time as a Tax and Estate Consultant for a Wealth Management (“WM”) firm and as a Quarterback/Part-time CFO for a couple of families.
When working with the WM firm's clients, I like to provide them with an estimate of their anticipated income tax liability on death based on their current net worth. I find this is often a very useful exercise for clients, so that they can plan and consider...

From an income tax perspective (I am obviously ignoring the emotional issues) receiving an inheritance provides two tax related benefits. The receipt of the inheritance is typically tax-free and you may also receive a “bump” (increase) in the adjusted...