• 0
    July 11, 2019
    Uncategorized

    New Maine Probate Code

    The last time we had a major tax overhaul was in 1986 with the Tax Reform Act signed by President Reagan.  Although it simplified the income tax code for some folks, it also created complexity for others, not to mention a great deal of work for accountants and tax lawyers who were tasked with interpreting and planning around the new law.  Tax professionals (and the IRS) now again have their hands full in interpreting and implementing the newly enacted Tax Cuts and Jobs Act, which took effect on January 1, 2018.  To ring in the New Year, we thought it helpful to provide clients with a summary of the new law with a specific emphasis on how it affects your businesses and estate planning.  Keep in mind that although the new law is effective now, individuals won’t see any change to their tax returns until spring 2019 (when 2018 returns are filed).

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  • 0
    December 18, 2018
    Uncategorized

    The Simplest Annuity Explainer We Could Write

    The insurance companies that create annuities often make them seem like investments. But really they’re more like insurance. At their simplest, annuities offer a guarantee. If you turn over some money, you’ll be guaranteed to get all that money back — plus usually a certain amount more. Or you turn over some money and you’ll be guaranteed a regular check for a certain period. Like insurance to stave off financial disaster, an annuity is something you purchase to guarantee that you won’t run out of money if you live a long time. Such financial guarantees are attractive. After all, we don’t know how our investments will perform: This year may be the first in a while that your stock and bond index funds both lose money. Still, annuities are not a mainstream product. This is partly the fault of the annuity companies, since they have long outsourced the sales process to people who do not always have customers’ best interests at heart. Read the full article at NYTimes.com.

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  • 0
    January 18, 2018
    news

    Tax Cuts and Jobs Act of 2017

    The last time we had a major tax overhaul was in 1986 with the Tax Reform Act signed by President Reagan.  Although it simplified the income tax code for some folks, it also created complexity for others, not to mention a great deal of work for accountants and tax lawyers who were tasked with interpreting and planning around the new law.  Tax professionals (and the IRS) now again have their hands full in interpreting and implementing the newly enacted Tax Cuts and Jobs Act, which took effect on January 1, 2018.  To ring in the New Year, we thought it helpful to provide clients with a summary of the new law with a specific emphasis on how it affects your businesses and estate planning.  Keep in mind that although the new law is effective now, individuals won’t see any change to their tax returns until spring 2019 (when 2018 returns are filed).

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  • 0
    June 12, 2017
    Uncategorized

    The 21 Questions You’re Going to Need to Ask About Investment Fees

    The best way to understand what the fiduciary debate is about — and to protect yourself — is to view this discussion through the lens of fees. Every time you do business with people in the financial services industry, ask them this: How much money are you making, and what are the different ways you are making it? Read the full article at NYTimes.com.

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