Walsh College

Personal Planning Ideas

The Incredible Shrinking Estate Tax
When the estate tax credit was raised in 2013, sheltering estates up the $5 million, it was estimated that only about 4,000 estates per year would be subject to the tax . . . more

Standard Deductions Take Giant Leap
As a result of increased standard deduction amounts for 2018, only about 5% of taxpayers will likely itemize in future years — down from about 30% in prior years . . . more

Think Twice Before . . .
Making withdrawals from your IRA — You’ll owe income tax on the amount withdrawn (unless it’s a qualified distribution from a Roth IRA) and possibly a 10% early withdrawal penalty if you’re under age 59½ . . . more

Start 2018 on the Right Foot
The tax landscape has changed dramatically for 2018.  To make the most of the changes — and avoid missteps — take time early in the year to review your tax situation . . . more

Be sure to check this site each month for new planning ideas. If you would like to receive our Personal Planning Ideas by e-mail each month, please click here.

December 2017 Archive
• Everyone Still Needs Estate Planning
• Too Young for Estate Planning?
• Extraordinary Ideas for Estate Gifts
• IRS Announces Cost-of-Living Adjustments for 2018

November 2017 Archive
• Clock Is Ticking
• The Importance of Health Care Directives
• Two Year–End Gifts to Consider
• The Uncertainty of Estate Taxes

October 2017 Archive
• Being Prepared Means More than Just Batteries and Water
• Retiring in 2018? Take These Steps First
• Beneficiary Designations and Joint Property
• A Deduction for Doing Nothing

September 2017 Archive
• Don't Shortchange the IRS
• Special Planning for Special Needs
• Whose Property Is It? Only Title Will Tell
• A Place for Bonds in Your Portfolio

August 2017 Archive
• Practical Uses for Irrevocable Trusts
• Home Sweet Home: Where’s Yours?
• What a Problem to Have!
• The Best Things in Life Are “Free”

July 2017 Archive
• Gift Ideas That Aren’t Written in Stone
• Retirement Plans 101
• Starting Grandkids Out Right Financially
• No Comparison to Having an Estate Plan