Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. The post Would You Prefer a Charitable Deduction This Year? appeared first on Nirenstein, Horowitz & Associates P.C..
When planning for children with special needs, it takes special care to preserve their eligibility for public benefits. An ABLE account is a new way to preserve eligibility while gaining tax advantages. Read on to learn more about this new tool in planning for those who were disabled by age 26. The post A Special Option for Special Kids appeared first on Nirenstein, Horowitz & Associates P.C..
Congress passed a new tax law just before leaving for the holidays. The new law temporarily doubles the estate, gift, and GST exemption. The law increases the standard deduction and limits deductions for state and local taxes. Read the article to find out more about the new law and how it will impact you. The post New Year’s Greetings appeared first on Nirenstein, Horowitz & Associates P.C..
The tax bills passed by the House and Senate would eliminate deductibility of state income tax and nearly double the standard deduction, dramatically reducing the number of people who would benefit from itemizing their deductions. As a result, most people would get no tax benefit from their charitable contributions. This article examines how a Donor Advised Fund could allow donors to make a contribution this year, getting a tax benefit, and then release the funds to charities in the future. The post No Charitable Deduction in 2018? appeared first on Nirenstein, Horowitz & Associates P.C..
A Connecticut elder law attorney can provide help to seniors in making plans to get the care and support they need as they grow older. Often, when seniors age, they experience age-related infirmities or develop illnesses that make living alone impractical or impossible. If this occurs, it becomes important for those seniors and their family [ ] The post Connecticut Senior Center Breaks Ground appeared first on Nirenstein, Horowitz & Associates P.C..
Hartford probate attorneys can provide help with the probate process. The process can be a lengthy and time consuming one and, while having a lawyer can reduce the stress associated with probate, many people would still prefer not to have to go through this process after a loved one passes away. Fortunately, there are ways to [ ] The post Top Reasons for Avoiding Probate appeared first on Nirenstein, Horowitz & Associates P.C..
Medicaid planning is important because you may need to qualify for Medicaid and may be unable to do so if you do not have a plan in place. Medicaid is a means-tested benefit, which means if you have too many financial resources, you will not be able to get covered by the program. This could [ ] The post Common Mistakes in Medicaid Planning appeared first on Nirenstein, Horowitz & Associates P.C..