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365 Route 59, Suite 231 ~ Airmont, New York 10952
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Tax Planning for 2024

December 26, 2023 As 2023 draws to a close and the New Year dawns, we need to think of…tax planning for 2024 and beyond! Some years Congress tweaks the laws more than other years. While 2023 held plenty of surprises, it was a relatively quiet year for legislative changes impacting…

Are You a Family Caregiver? New Bill Seeks to Lower Costs

December 14, 2023 Recently proposed legislation seeks to offer financial relief for unpaid family caregivers. Introduced in November 2023, the Lowering Costs for Caregivers Act of 2023 is the result of a bipartisan effort to lessen the costs of family caregiving. The American Association of Retired Persons (AARP) has also…

Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount

November 21, 2023 As we gather with our family, friends, and loved ones to celebrate Thanksgiving, let’s take a moment to savor the food and our time together. This time of the year offers a special opportunity to show our loved ones just how much we care. We can do…

2024 Standard Protections for Spouses of Medicaid Applicants

November 16, 2023 Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits. These protections, known as the Spousal Impoverishment Standards, help to support the financial well-being of seniors who…

10 Ways to Maximize Your Social Security Retirement Benefits

November 9, 2023 Social Security wasn’t meant to be a primary source of income for retirees when it was first created in 1935. It sought to provide an umbrella of protection for people who couldn’t save enough for retirement. Most Americans didn’t think much about Social Security, perhaps because they…

Let’s Talk Litigation

November 2, 2023 This blog usually focuses on ways to avoid litigation suggesting things like regular, open, and honest communication with beneficiaries, ensuring that your Estate Plan contains clear directives, naming a trusted individual to serve as Trustee, anticipating potential conflicts, inserting no-contest provisions, and updating your Estate Plan regularly….

Understanding the Interplay of State Estate and Inheritance Taxes with Federal Estate Tax

October 29, 2023 Most folks know that the federal government imposes an estate tax on estates with total assets that exceed $12.92 million in 2023. The Internal Revenue Code (“Code”) Section 2010 calls that amount the “Applicable Exclusion Amount” (“AEA”) and adjusts it for inflation annually. Even if individuals do…

Most US Workers Say They Will File for Social Security Early

October 23, 2023 To secure the maximum amount in monthly Social Security retirement benefits, Americans must wait until full retirement age to start receiving their payouts. Results from a 2023 survey show that most of today’s workers know about this stipulation – and yet the vast majority say they’re willing…

What Will Your 2024 Social Security Benefits Look Like?

October 16, 2023 In 2023, recipients of Social Security benefits saw the biggest increase in decades in their monthly checks. Although their payouts will indeed rise again in 2024, the cost-of-living adjustment (COLA) will be more modest – just 3.2 percent, versus the nearly 9 percent boost in 2023. Does…

Understanding Nursing Home Arbitration Agreements

October 10, 2023 A part of long-term care planning can include finding the right nursing home facility for yourself or your loved one. When you are searching for the right nursing home, you may find yourself sifting through piles of paperwork, and in that mountain of documents can be an…