Keystone Lawfirm and Wealth partners

Raising Expectations While Lowering Taxes: 2017 Tax Reform

Posted on: October 13th, 2017 by Sheryl Keeme   Business  |  Income Tax  |  Law Updates  |  Taxes

In 2016, American taxpayers made one message loud and clear: it’s time to deflate our bloated tax code. Actions in D.C. have raised expectations for many Americans that upcoming tax reform will lower their tax burden. Goals President Trump campaigned on many issues, including the need for tax reform that lowered the burden on middle […]

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Pay Your Beneficiaries Instead of Uncle Sam

Posted on: October 4th, 2017 by Sheryl Keeme   Estate Planning  |  Taxes

You’ve worked hard all your life and accumulated a nice house, bank accounts, and valuable personal property. And you’d like as much of this as possible to go to your family, right? Most people would rather pay their beneficiaries. And not Uncle Sam. Unless you plan carefully, though, some of the money you want to […]

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Maximizing your Social Security Benefits

Posted on: May 23rd, 2017 by Sheryl Keeme   Income Tax  |  Retirement  |  Taxes

People are living much longer today and collecting social security longer than in previous generations. And in many cases, women outlive men. Those who are in their 60s can elect to receive their retirement benefits earlier or later. Each month, 10,000 Baby boomers are turning 65. For those who have diseases that are known to […]

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Gift Taxes: How much can I give away without paying this?

Posted on: April 19th, 2017 by Sheryl Keeme   Taxes

There are two freeways to make gifts without incurring gift taxes. The first one is the annual exclusion on the second one is your lifetime exclusion. It’s 2017 so you can gift $14,000 this year to as many people as you want using the annual exclusion. Plus, you can gift your full lifetime gift exemption […]

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Tax records: What should you keep and for how long?

Posted on: December 19th, 2016 by Sheryl Keeme   Income Tax  |  Taxes

Deciding which tax record documents to keep and which to shred can be a bit of a guessing game. Some keep every single piece of paper or file in the world and others tend to pitch things faster than they should. All documents are not created equal. Some must be kept longer than others; the […]

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3 Year End Tax Tips for 2016

Posted on: December 2nd, 2016 by Sheryl Keeme   Income Tax  |  Taxes  |  Uncategorized

One way to lower your tax bill for 2016 is to accelerate deductions before December 31. Contributing to your favorite cause when it is a 501 (c) 3, is a terrific way to get another deduction. Did you know you can supercharge the tax benefits of your generosity by giving appreciated stock or property rather […]

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We have a new president. Will the estate tax be repealed?

Posted on: November 9th, 2016 by Sheryl Keeme   Estate Planning  |  Income Tax  |  Law Updates  |  Taxes  |  Uncategorized

The small percent of people in this country whose assets would be subject to the US estate tax have been waiting for a Republican president for eight years who could finally repeal this tax. While getting this accomplished is still a difficult task with any president, but it will be a somewhat easier sell now […]

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IRS Proposed to all but eliminate valuation adjustments

Posted on: August 5th, 2016 by fsirvent   Estate Planning  |  Law Updates  |  Taxes

YIKES!!! Getting a valuation adjustment (a discount) for certain family owned businesses has been a critical planning strategy in avoiding an estate tax after someone’s death.  Well…the IRS is proposing to eliminate that strategy. Just yesterday, in the Federal Register, the IRS proposed new regulations that would all but eliminate valuation adjustments.  This would apply […]

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Keep track of ALL donations quickly and easy with this app

Posted on: October 6th, 2015 by Sheryl Keeme   Taxes  |  Uncategorized

It’s simple to remember the large donations you make year after year—you simply review your bank records right? But what about those smaller, cash donations you make to your friend’s walk-a-thon or outside the grocery store? Intuit offers a free app that you can easily download onto your smart phone, Ipad or other mobile device. […]

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