Tag: tax planning

The Importance of Tax Planning for Business Owners

Posted on April 13, 2021

Naperville business tax planning lawyer

Similar to last year, the individual tax filing deadline has been extended by the federal government. This year, the deadline was pushed back to May 17, 2021, which means that taxpayers have about four weeks to finish their tax returns and send them to the Internal Revenue Service. For an individual, putting off tax planning can lead to major stress and costly late fees. However, failing to prioritize tax planning is an even greater problem for business owners. If you own a business, the importance of proper tax planning cannot […]

Posted in Business Law

Tax Planning in Your Estate Plan

Posted on April 8, 2021

Naperville estate planning attorney

Benjamin Franklin is attributed as having said that only two things are certain in life: death and taxes. The way you structure your estate plan will have considerable tax consequences, so it is important to plan accordingly. There are different tax-related advantages and disadvantages associated with each type of estate planning tool. Failure to plan for estate planning tax consequences can leave your surviving loved ones with unexpected and unpleasant tax-related surprises. An estate planning attorney can explain the potential tax implications and help you minimize your tax liability through […]

Posted in Estate Planning

Report: Wealthy Americans Are Changing Their Estate Plans Over Concerns of Tax Increases

Posted on October 15, 2020

estate tax, Naperville estate planning attorneys

A few weeks ago, a post on this blog discussed former Vice President Joe Biden’s plans regarding the United States Tax Code if he were to be elected president in this year’s general election. Of course, with every new presidential administration comes certain changes to the nation’s tax policies. With this in mind, Mr. Biden’s campaign maintains that his policies would not raise taxes on anyone making less than $400,000 per year. But, what about those who make over $400,00 per year? In short, they stand to be the most […]

Posted in Estate Planning

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