After a loved one passes, questions about inherited assets often arise. Whether it’s cash, property, or other valuables, understanding if you’ll need to pay taxes on what you inherit can help you avoid unwanted surprises. Understanding South Carolina’s inheritance tax laws is imperative for financial planning. Tax laws vary by state, and South Carolina […]
Does South Carolina Have An Inheritance Tax? Read More »
Hurricanes don’t just damage buildings—they often leave financial hardships and emotional stress in their wake. The devastation caused by recent storms, such as Hurricanes Helene and Milton, has raised urgent questions for individuals and families struggling to recover. Among these concerns is whether the financial losses from hurricane damage can be offset by tax deductions.
Is Hurricane Damage Tax Deductible? What You Need To Know Read More »
Many people may dread the thought of tax planning because it’s often complicated and cumbersome. Tax planning is more than just filling your returns. It involves seeking and adopting techniques that can help reduce the tax owed. So, it makes sense to start to do tax planning earlier in the year rather than later. Additionally,
End of Year Tax Planning & Beyond Read More »
Moving up a tax bracket is actually a good thing because it means you are making more money. When you make more money, it also means you will pay more in taxes. Paying more in tax is not fun, but it’s not a reason to panic. There are many strategies to save on taxes, and
What Should You Know About Moving Up a Tax Bracket? Read More »
The US inflation rate rose to 6.8% in 2021, its highest since 1982. While some of this may be transitory, experts have varying opinions. In this blog, we’d like to discuss something called Bracket Creep, which may affect some of our clients and readers. Bracket creep is a situation where inflation pushes income into higher
Should you be concerned about bracket creep from inflation? Read More »
10 Things to Consider When Planning to Transition into Retirement
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