Sources of Taxable Income As you prepare to file your 2017 taxes, you may wonder what types of income you need to include. In this article, we will go over different sources of taxable income, so you can identify the documents that you need to gather for your tax preparer. W-2 Income If you [...]
Irrevocable Trusts Irrevocable trusts are estate planning documents. They are powerful tools that can be very beneficial in certain situations. In this article, we will go over how irrevocable trusts work, some of their benefits, and some of their pitfalls. How Irrevocable Trusts Work An irrevocable trust is a type of trust. After you [...]
Derivatives-An Introduction Derivatives are a type of security. Their value is dependent, or derived, from the value of underlying assets. These underlying assets could be stocks, bonds, commodities, currencies, interest rates, or market indexes. The value of the derivative will fluctuate according to the value of the underlying assets. However, derivatives are a broad [...]
Term Life Insurance Term life insurance is one of the cheapest and easiest to understand types of life insurance. It covers you for a specific period and can be a flexible source of coverage. In this article, we will go over the basic characteristics, types, and usefulness of term life insurance. Basic Characteristics Term [...]
Completing Form W9 If you receive a Form W9 you may be wondering why you got it and what to do with it. If you feel overwhelmed by tax forms, this article can help you. We will go over the purpose of a Form W9 and a step-by-step process of how to fill it out. [...]
Tax Changes for 2018 The passing of the new tax law has many people worried as tax season quickly approaches. You can rest assured, these changes will not show on this year’s tax returns, they will affect your taxes you file in 2019. However, you should be aware of the 2018 tax changes since [...]
Small Estate Affidavits in Arizona In Arizona, there are several legal avenues you can use to transfer property after someone passes. These include informal and formal probates, as well as small estate affidavits. Small estate affidavits can prove to be a simple low-cost tool when dealing with relatively small estates. In this article, we [...]
