How State Income Tax Rates Are Affecting State Populations
Amid economic concerns post-2020 and into 2022, the layout of the U.S. population is shifting. While the national population growth rate for 2021 was only .1%, the number of Americans moving across state lines has risen.
How Can I Shelter My Income from Taxes?
Mention the term “tax shelter” and what might come to mind are millionaires and billionaires who turn to offshore accounts (or Switzerland) to stash their funds so the U.S. government doesn’t tax them.
Commodities as Alternative Investments: What You Need to Know
Commodities are less well understood by the average investor, but as inflation rates rise, commodities are something investors may consider as an investment that can help bring diversity to a portfolio. Commodities are tangible goods that can be used as they are or used to make other goods. Some common commodities include livestock, precious metals, cotton, oil, gas, lumber, and uranium.
How Can I Give My Beneficiaries Real Estate They Don't Need to Manage?
Estate planning has many considerations as you decide how to divide your assets and distribute them to your intended heirs. If real estate assets are a significant portion of your estate, you may want to consider your options for passing that legacy on to your beneficiaries. If you are an active property manager, you already know how much time and effort the endeavor requires. You also understand that even hard work can't control market volatility, asset performance, interest rates, or tenant behavior.
What Is a Durable Power of Attorney?
Establishing a durable power of attorney can be an important aspect of estate and lifetime planning, especially for aging seniors without immediate family.
[Webinar Recap] How to Treat Your DSTs During Tax Season: Calculating Your Depreciation Schedule
Here at Realized, we help our clients use 1031 Exchanges to invest in DSTs, or Delaware Statutory Trusts. DSTs are an investment vehicle that allow investors access to fractional ownership of professionally managed commercial real estate. By having fractional ownership of a property, an investor can potentially build a unique portfolio of real estate investments without having to manage the properties themselves or secure the entire financing for the investment upfront.
What Is Tax Form 8948 and What Is It Used For?
Taxpayers and tax preparers must deal with a plethora of tax forms, some well-known, others more obscure. Knowing which ones you need (or your client needs) to file is vital to successfully fulfill your responsibilities and achieve the goal of an accepted return.
Can a Trust Be a Beneficiary of an IRA?
Listing a beneficiary for your IRA is almost always an advantageous move. It helps ensure that your wishes for the retirement account are carried out upon your passing. Specifically, the retirement account is transferred to the person you’ve listed as a beneficiary. This is far better than having the account go off to probate.
Collectibles as an Alternative Asset: What You Need to Know
Collectibles can take many forms and whether a particular collectible will grow in value is a gamble. Remember the Beanie Baby investors? But collectibles often have a benefit that is unique compared to other investments. When looking to diversify a portfolio, could collectibles be a part of your investment strategy?
How to Get Power of Attorney
Designating a power of attorney (POA) for your accounts serves several purposes. A POA can act on your behalf during a real estate investment transaction or make decisions regarding personal financial assets or medical care if you become incapacitated.
