Avoiding Unnecessary Probate Costs
[ad_1] Each year, millions of dollars are spent on soaring attorney and court fees associated with probate proceedings upon the death of a loved one. Avoiding probate in estate planning…
Do 401(k) Contributions Reduce AGI or MAGI?
[ad_1] Traditional 401(k) contributions effectively reduce both adjusted gross income (AGI) and modified adjusted gross income (MAGI). Participants are able to defer a portion of their salaries and claim tax…
How to List Beneficiaries for Life Insurance With a Trust
[ad_1] With life insurance policies protected from creditors in most states, the tax treatment is the next big issue for consumers. Tax treatment as it relates to ownership and beneficiary…
Are Personal Loans Considered Income?
[ad_1] Borrowers can use personal loans for all kinds of purposes, but can the Internal Revenue Service (IRS) treat loans like income and tax them? The answer is no, with…