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Posted in Firm News on April 4, 2018
D- “D” stands for DIVORCE, which can play an important role in estate planning, especially if there are stepchildren. See, Q tip in coming posts. E-“E” stands for ESTATE and EIN. The value of the assets in your ESTATE when you pass away will determine how much your ESTATE will owe in taxes. Removing assets… (Keep reading)
Posted in Firm News on March 29, 2018
A- “A” stands for ASSETS that will be in your estate at the time of your death. Effective estate planning can help eliminate the amount of tax owed on these ASSETS if that is your goal. B-“B” stands for BASIS, or what you paid for an asset in your estate, minus expenses you incurred in… (Keep reading)
Posted in Firm News on March 26, 2018
Just a reminder for those taxpayers who file a late return: Under the IRS’s First Time Abatement Program you may qualify for an OK to waive late filing and late payment penalties. You must pay or make arrangements to pay the tax due. Your last three years tax return must have been filed and paid… (Keep reading)
Audited by the IRS? What should you do?
Posted in Firm News on March 21, 2018
Should I represent myself or my company if audited by the IRS?The simple answer from a Tax attorney NO!!!!If you do you will tell the Auditor something you should not. With that being said if you receive an IRS notice stating you owe a small amount of money due to an error you should talk to… (Keep reading)
Posted in Firm News on March 15, 2018
The other day a client came in to have her Estate Plan prepared. She did not have an heir. Her husband, siblings and only child predeceased her. Her father was living ( in his 90’s). She wanted to know if she really needed Estate Documents as she did not care what happened to her assets… (Keep reading)
Posted in Firm News on March 9, 2018
Many families have pets, dogs, cats, birds etc…. Pets are not only cute and lovable but a huge part of the family. We plan out future preparing trusts and wills to make sure our valuables are disbursed accordingly. We sometimes forget about planning for our pets. Who will love and care for them the way they… (Keep reading)
Posted in Firm News on February 7, 2018
Contact Ken R. Ashworth & Associates for a Free Seminar – Will Vs. Trust
Posted in Firm News on February 6, 2018
Each Year, The Internal Revenue Service releases a list of the worst tax scams. These scams peak at tax season but happen year round. Here’s a roundup of some of the favorites by fraudsters. Identity theft, phone scams and “phishing” are listed 1,2, & 3. ID theft, of course, is when someone uses your stolen Social… (Keep reading)
