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The Kiddie Tax: Don’t Let Uncle Sam Rob Your Children

Traditionally, the Kiddie Tax taxed all “unearned income” a child made at the parent’s marginal tax rate. It was another way Uncle Sam created to take money from the more “affluent” Americans. Truthfully, the Kiddie Tax not only affected the well to do, but everyone who wanted

Everyone Needs a Will

Everyone needs a will, but it is important to understand what type of will to use and why to use it. I am a proponent of trusts. In my mind it is a good idea for everyone to have a living trust. The advantage of a trust

ADJUSTED GROSS INCOME NOW AFFECTS IRA DEDUCTIONS

Adjusted Gross Income Adjusted gross income numbers are becoming even more important. Here’s another tip to help you understand the importance of lowering your adjusted gross income (AGI). In 2011, the Obama administration took away many people’s ability to make a traditional IRA contribution and have it

LLC Tax Election

An LLC tax election is the decision you make to determine how your LLC is taxed. An LLC is a unique business structure called a limited liability company, but the IRS Code has not given the LLC a unique taxation section. So how is the LLC to

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We wish everyone in America had the means to obtain the knowledge that Attorney Lee Phillips is attempting to impart in the Accumulation and Preservation of Wealth course. We are thankful that there is a legal system that is designed to protect people’s assets, no matter how little or how much.
~ Ed, Dallas Texas