Archive for Blog

What is the difference in a will and Durable Power of Attorney?,

  • November 16th, 2017
  • David Greene
  • Comments Off on What is the difference in a will and Durable Power of Attorney?,

Each individual, even husbands and wives, needs to make a will in order to pass his/her assets after death.  A Durable Power of Attorney, though, simply gives someone you trust the authority to act in your behalf when you can’t…

What are the biggest mistakes made in Estate Planning?

  • November 14th, 2017
  • David Greene
  • Comments Off on What are the biggest mistakes made in Estate Planning?

Estate Planning covers both events during life and after death.  Here are some of the biggest Estate Planing mistakes that are made: (1) Failure to plan for incapacity – everyone should have both a financial and health care Power of…

Suggestions for Recovering Lost Financial Records

  • November 7th, 2017
  • David Greene
  • Comments Off on Suggestions for Recovering Lost Financial Records

Here are some suggestions for recovering your financial records if they are lost or destroyed in a hurricane or other natural disaster: (1) get a copy of your tax transcript from the IRS; (2) Request copies of records (bank statements,…

Tips On How To Avoid Will Contests

  • October 24th, 2017
  • David Greene
  • Comments Off on Tips On How To Avoid Will Contests

It is very hard to be successful in a will or trust contest.  However, many disappointed heirs file such contests every year.  Here are some planning tips to hopefully avoid that headache and heartache for your heirs.  (1) If you…

Does the Frersh Start program work for companies?

  • October 17th, 2017
  • David Greene
  • Comments Off on Does the Frersh Start program work for companies?

The Fresh Start program for companies is not discussed much, but it is there in a different format.  The Fresh Start for business offers an Express Installment Agreement.  To qualify, the business must meet the following criteria: (1) the amount…

What is the Expanded Fresh Start Program?

  • October 10th, 2017
  • David Greene
  • Comments Off on What is the Expanded Fresh Start Program?

The Fresh Start program has been expanded.  It was recently expanded to help taxpayers who owe up to $100,000 in delinquent taxes.  They will be able to enter into an Expedited Installment Agreement if they can pay the balance due…

Here are some important tax tips for new start-up companies.

  • October 3rd, 2017
  • David Greene
  • Comments Off on Here are some important tax tips for new start-up companies.

Here are some tips relative to the financial and tax implications of a new business.  To make the best decisions, you should consult with an attorney or accountant when implementing these tips. (1) Pick a business structure – S or C…

If you have a Living Trust do you also need a will?

  • September 26th, 2017
  • David Greene
  • Comments Off on If you have a Living Trust do you also need a will?

That is a good question and the answer is: maybe or maybe not!  If you have truly transferred all of your assets into your trust, then you do not need a will because no asset is in your name.  However,…

How can you prove expenses in an audit if you did not keep good records?

  • September 19th, 2017
  • David Greene
  • Comments Off on How can you prove expenses in an audit if you did not keep good records?

As you know, if you are audited  the IRS will not accept your word for income or expenses.  If they think you underreported income, they will go through all of your financial accounts and add deposits to determine income.  It…

What is a Dynasty Trust and how does it work?

  • September 12th, 2017
  • David Greene
  • Comments Off on What is a Dynasty Trust and how does it work?

Many of my clients tell me they do not want to give their child a sizeble inheritance, only to have it disappear in a bad divorce or bad business deal.  They ask if and how they can protect their chilren’s…

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