We live in a moment where artificial intelligence is woven into nearly every corner of daily life. People are using AI to plan vacations, write wedding vows, edit novels, brainstorm business ideas, and even redesign their homes. These tools are fast, friendly, and capable. It’s no surprise that many people wonder: If AI can do […]
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There’s Not Much Time Left, but You Can Still Make These Moves before December 31, 2025
Significant changes to the One Big Beautiful Bill Act (OBBBA) take effect on January 1, 2026. There’s little time, but if you act fast, you might benefit: Charitable giving tax rules are changing. Only taxpayers who itemize can deduct charitable gifts exceeding 0.5% of ADI. If you already know which organizations you want to support, […]
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Year-End Estate Planning Wrap-Up
As the year draws to a close, it’s worth taking a step back to assess the legal framework that governs how your assets will be managed during life and transferred at death. Many financial and tax-related decisions, including retirement account contributions, charitable gifts, and certain trust funding activities must be completed by December 31 to […]
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Open Enrollment Season is Here – What You Need to Know Right Now
It’s Medicare season, when the millions of Americans enrolled in Medicare plans are allowed to make changes to their plans. These opportunities are limited and this year presents some new challenges. Big Medicare insurance companies are dropping plans, trimming benefits and increasing deductibles. You’ll want to do the homework to make sure you’re getting the […]
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2025 Required Minimum Distribution Deadline is Near – What You Need to Know Right Now
This is the time of year to start planning for RMDs unless you are taking them automatically. If you haven’t taken an RMD in 2025 and don’t need funds to cover living expenses, you may want to wait until December. That’s because if your RMD covers your entire tax bill, you can avoid quarterly estimated […]
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What is the Retirement Rule of $1 More?
Some limits and deadlines have wiggle room, but IRS rules, especially those regarding retirement rules, aren’t among them. The “retirement rule of $1 more” refers to the costly situations created when an increase, even by as much as $1, can trigger tax consequences or increase Medicare costs. Want to avoid crossing this expensive line? Here’s […]
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Don’t Let Poor Estate Planning Ruin a Great Legacy – Jimmy Buffett’s Widow Battles Over $275 Million Estate
When Jimmy Buffett passed away in 2023, he left a legacy of a beach lifestyle where it’s always time for a margarita. But the same laid-back island vibes are in direct contrast to the battle now underway between his widow and a co-trustee. Jane Buffett and co-trustee Richard Mozenter filed lawsuits against each other. She […]
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New York State’s Estate Tax Cliff: How to Keep Your Estate on Solid Ground
New York State residents shouldn’t overlook a crucial and potentially costly component of their estate planning: New York State’s estate tax cliff. If your estate falls within the $7 million to $14 million range, it is imperative to address this issue now—before it results in an unnecessary and substantial tax burden on your heirs. Understanding […]
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Reading the Small Print in the Big, Not So Beautiful Bill: Why Businesses May Flee New York
Attorneys and business owners across New York are sounding the alarm over a little-discussed provision buried in the latest Republican-backed tax proposal, sometimes dubbed the Big Beautiful Tax Law. While much of the bill serves as a continuation or expansion of the 2017 Tax Cuts and Jobs Act (TCJA), an important provision threatens to reverse […]
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Seniors, What Do You Need to Know About Out of Pocket Health Care Costs?
Medicare doesn’t pay for everything. One of the big financial challenges of Medicare is the out-of-pocket cost, which can be a surprise if you’re not ready for it. How much you’ll pay and when depends on the kind of Medicare you have. Traditional Medicare, operated by the government, provides care on a fee-for-service basis. Medicare […]
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