Category: Blog

On December 3, 2014, Congress passed the Achieving a Better Life Experience Act, or as it’s more commonly known as, the ABLE Act. The ABLE Act authorized a new type of tax-favored savings account for blind or disabled individuals with a qualifying disability incurred prior to age 26.  As of January 1, 2018, these individuals…

St. Patrick’s day brings to mind the Irish legend of the pot of gold guarded by a leprechaun at the end of the rainbow. The pot of gold is simply unreachable because its location changes as soon as the treasure hunter’s location changes to investigate. The refracted light on water droplets that creates the rainbow…

One of the features that make 401(k) plans so attractive is that your money is not completely out of reach should an emergency need arise. Most plans allow for loans that are completely tax free if repaid as agreed. (Interest payments will be required, but they will be credited to the account.)  In a major…

Some call Valentine’s Day an excuse to spend money, and with over 15 billion dollars spent each year for the last five years, it’s not very hard to see why. According to the National Retail Federation, the top five gifts that were planned last year were: candy, greeting cards, an evening out, flowers, and jewelry.…

“In 2015, U.S. health care costs were $3.2 trillion. That makes health care one of the country’s largest industries, equaling to 17.8% of gross domestic product (GDP). In comparison, health care costs were $27.2 billion in 1960, just 5% of GDP.” 1 “Advocacy group Autism Speaks reports that the cost of caring for a person…

It’s never a “good year” to die; however, if you live in New Jersey and made it to 2018 with a sizable estate, it’s possible your estate’s tax exposure just fell considerably. The amount exempt from the federal estate and gift tax had been scheduled to rise to $5.6 million so as to take into…