Archive for Blog

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…

What is a Trust Protector?

  • September 6th, 2017
  • David Greene
  • Comments Off on What is a Trust Protector?

Last month some of the best legal and financial planning minds in the country met to discuss the direction of estate planning and how to help average citizens such as you and I keep our assets and pass them on to…

Learn what the IRS charges to set up an Installment Agreement.

  • August 29th, 2017
  • David Greene
  • Comments Off on Learn what the IRS charges to set up an Installment Agreement.

The IRS charges a user fee to set up an Installment Agreement for a taxpayer.  The IRS used to charge a user fee of $43.00 to set up the account for the Installment Agreement.  However, several years ago, this fee…

What is the Fresh Start progran for those who owe delinquent taxes?

  • August 15th, 2017
  • David Greene
  • Comments Off on What is the Fresh Start progran for those who owe delinquent taxes?

The Fresh Start program helps many taxpayers but not all. It is designed to help those with smaller amounts owing in delinqueat taxes. Basically the program provides a simple way for taxpayers owing less than $25,000 in delinquent taxes to…

Is a monetary award for job discriminstion taxable as income?

  • August 1st, 2017
  • David Greene
  • Comments Off on Is a monetary award for job discriminstion taxable as income?

Unfortuantely, a monetary award of this tyupe is considered income by the IRS.  When someone is physically injured and gets a money award from settlemenet or trial, that money is not taxable.  The key words here are “physical injury.”  Emotional…

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