Blog - "Altman Speaks"

A Message to Those With Young Families

One of the silver linings of being snowed in for several days is that, with schools and many offices closed, many families get extra quality time together. Board games, snowball fights, baking cookies, hot chocolate by the fire...Time slows down when there's nowhere to rush off to. As adults, we know that these snow days […]

Forbes Article: "Congress Cracks Down on Inheritors' Tax Loopholes"

A recent Forbes magazine article sheds light on a new law that will serve to prevent beneficiaries from overstating the original value of an inherited property when selling it to lessen their tax burden. The IRS has been well aware of the loophole, which had allowed beneficiaries to bypass the value that the estate had placed on a property […]

Congress Passes Extender Bill: “Protecting Americans from Tax Hikes Act of 2015"

Last week, Congress passed legislation to address a series of more than 50 tax provisions that expired at the end of 2014. The bipartisan legislation came down to the wire as tax payers, tax advisers, financial and estate planners and, of course, the IRS, were all anxiously awaiting answers as to what laws would apply to […]

Alaska Governor Proposes the State's First Income Tax in 35 Years

Alaskan Governor, Bill Walker, is proposing the state's first income tax in 35 years. The income tax proposal, along with a budget proposal, are a part of the The New Sustainable Alaska Plan. Alaska is currently the only state to have neither an income tax or a sales tax. However, with oil prices at seven year lows, the state […]

What to do Immediately After a Loved One Dies

Your loved one has passed away.As hard as it is to process in the moment, you owe it to your loved one, friends, and family to take the lead, ask questions, and facilitate action. If the decedent, the loved one who has passed away, has a will or trust, then it will list a personal […]

The Importance of IRA & Tax Planning in Maryland

Retirement only seems far away, or maybe it doesn’t. If you have acted responsibly, then you hopefully began saving for your retirement from a relatively young age. But saving and picking the right investments is only part of the process. Are you putting those retirement assets in a scenario where they receive the best possible […]

Buying the '12 Days of Christmas' Is Going to Cost You 0.6% More This Year!

This week, PNC Bank released it's 2015 Christmas Price Index which measures the present-day cost of buying all of the gifts mentioned in the famous "12 Days of Christmas" carol. PNC started the tradition back in 1985 and, every year since, a team of economists adjusts the index accordingly for fun. The changes since last year are highlighted in […]

Update on the Washington, D.C. Estate Tax

In 2014, the Washington, D.C. City Council passed a tax reduction bill that provided for certain taxes to be reduced if projected revenues reached specified thresholds. There were 26 possible tax reductions and the increase in the exemption for D.C. estate taxes from $1,00,000 to 2,000,000 was the 15th priority. Therefore, apparently, the projected revenue increase […]

"Estate Planning for the Never-Married" - Gary Altman Advises Singles to Make Choices

In a recent interview with The NY Times, Gary Altman stresses the importance of having an estate plan, even for those who have never been married. According the Pew Research Center who analyzed recent census data, 20 percent of adults age 25 and older in 2012 had never married. This number is up from just 9 […]

Year-end Financial Planning Checklist

Our friends at The Andrews-Balboa Wealth Management Group shared some valuable end-of-the-year planning information with us that we thought prudent to pass along. Their complete "2015 Year-End Planning Guide" includes information such as: Legislation watch Tax figures to note Tax planning strategies Investment planning Estate planning Charitable planning Retirement planning and a 2015 Year-end planning checklist. Download a […]

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