When you own a business and want to minimize your tax liabilities, one option is learning to strategically utilize depreciation on your business assets. U.S. News and World Report explained for 2023, tax laws allow for an 80% bonus depreciation that will phase out by...
Asset protection planning is essential for several reasons. For one, it ensures that you have resources available for your needs and goals. But more importantly, it shields your assets from potential lawsuits and creditors. Without proper protection, your assets could...
Financial planning is a critical aspect of ensuring the well-being of loved ones. Life insurance plays a vital role in this process for Connecticut residents, providing a financial safety net for beneficiaries if the policyholder passes away. One effective way to...
Each person’s approach to estate planning depends on how they see their life now and how they want to see it in the future. Some people’s ideal future could include protected properties and supported families, while others might prefer to support their beloved...
As you build your wealth throughout your life, you may also encounter the challenge of getting caught up in an ongoing cycle of debts. Concerns about managing these financial obligations in the event of your passing start to weigh on your mind. Naturally, you would...
Creating a trust is a popular method for people to pass assets to their beneficiaries while keeping the impact of taxes to a minimum. There are many types of trust, allowing you ample freedom to control the distribution of your assets and who benefits from them after...
A trust provides various benefits, including potentially reducing the impact of estate taxes on your properties and the beneficiaries who will inherit them upon your death. There are several factors to consider when creating a trust, and one of the most important is...
Planning your estate is an excellent idea for every Connecticut business owner. It becomes even more crucial when you are seeking to secure the future of your startup. You never know when a fantastic opportunity can come along. At the same time, you also don't know...
In today's digital age, our lives are intertwined with a vast array of digital assets. These assets hold financial and sentimental value, from online financial accounts to social media profiles. Imagine what can happen to those accounts when you die. Incorporating...
A common strategy parents of children with special needs take is creating a special needs trust (SNT), also known as a supplemental needs trust, to ensure that the child’s needs, on top of basic ones, are continuously provided for in the event something happens to the...