Posted by Mark On November 12th
The 2010 Tax relief Act reinstated the Estate, Gift and GST tax at a 35% tax rate and $5.12 million (for 2012) exemption.

In addition to the increase in the exemption amount the Act also created a portability election for decedents dying after 2010. This election is made by…
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Posted by Mark On October 22nd
Have you reviewed your tax and investment planning for your portfolio lately?

It can be difficult to stay on top of all the changes, especially the changes at the end of 2012. You are probably wondering if it is time to meet with your tax advisor.
Here are some helpful facts you will want to consider regarding your tax planning, as well as investment planning, before meeting with an advisor:
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Posted by Mark On September 20th

This is the ninth installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.
When preparing for tax filing during or after a divorce, the two dates I consider to be the most important are the date divorce petition was filed and December 31 of each year.
Pending divorces can often go on for more than one filing year.
Filing Date
In most states the filing date, by either party, is when you become financially separated. However, this is not true for every asset. Retirement plans are usually marked by the date of distribution and appreciating or depreciation assets (i.e. principle residence). This can be valued once an agreement is reached.
December 31st is the last day of the tax year. It is the determining factor in a couple’s filing status. If you are legally married on December 31, you have two options when it comes to filing tax returns.
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Posted by Mark On August 29th
Posted by Mark On August 9th

This is the seventh installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.
A spouse can be held liable in a divorce for the other spouse’s debts — and it doesn’t necessarily matter whose name the debt is in. When it comes to divorce, there are two forms of debt that courts primarily consider: Living expenses & community property.
Living expenses include the cost of things like mortgage or rent, groceries, utilities, your cable or cell phone, and other, similar expenses. Community property is basically, everything else.
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Posted by Mark On July 19th
Posted by Mark On June 20th
Posted by Mark On May 16th

This is the third installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.
Filing the Petition
The Petition for Dissolution of Marriage is the first document filed with the clerk of the court in your county, which starts the divorce case. It basically formally asks the court to end your marriage. In the petition, you will have to plead all of the facts required by your state’s law in order to entitle you to the outcome you are seeking.
In most states, you will have to include when and where you were married, how long you have resided in the state, information about your children, and may have to include grounds for which you seek a divorce. (In Florida, you are only required to state that your marriage is “irretrievably broken”, which is considered grounds for divorce.) Residency requirements and grounds for divorce vary from state to state.
The steps you will take in a divorce case depends on whether you are the “petitioner” or the “respondent”.
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Posted by Mark On May 2nd

This is the second installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.
You should have your financial documents in order prior to beginning the divorce process. Before you even go into the first appointment with your attorney, you should have a clear understanding of where you and your spouse stand financially. It is best to bring in your accountant or a professional to assist you in this step.
Both parties in a divorce will be required to complete a financial affidavit to determine your income and expenses. If you have your financial documents in order prior to completing this, it will save you a great deal of time and headache.
Here is a list of financial documents you will need to have in order:
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Posted by Mark On May 26th