Tax day, which is Tuesday, April 19 in 2022, is approaching and it is time to begin crossing T's and dotting I's in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions you're entitled to.
If you are married, a good estate planning attorney will ask you during the information gathering process whether you have ever lived in a community property state. This is because community property retains its character as such when a couple moves to a state with different marital property laws. Your estate planning attorney needs to know this because it can have an impact on what is included in your estate when you die and to what extent the property received a step up in basis when you die.
Raising a grandchild can be tough financially, but grandparents should be aware that there is a tax credit available that could help them. Working grandparents who are supporting their grandchildren may qualify for the earned income tax credit, which could reduce the amount they pay in taxes ...
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