How Much of Your Wealth Should Be Easily Accessible?
Ask yourself how big a check you could write today if you had to. The answer can often be sobering. The tax and financial planners at GTAX Gilman Ciocia can help you structure your investments, cash, and retirement contributions to help you have access to enough emergency cash while still putting away a suitable portion of your wealth for retirement.
What About Saving for College?
If you have reached a reasonable liquidity level, then using a 529 plan to save for college costs can be a great idea. However, it's not always in your best interests to take dollars that can be used for anything and change them to dollars that can only be used for one purpose. One of our good tax and financial planners can help you allocate your resources to work for you today and tomorrow.
The Estate Tax Exemption
The estate tax exemption changed several times in the early years of the 2000s. However, it was set at $5 million last year and is expected to remain there for now. Knowing this can be important when it comes to estate planning, and we at Gilman Ciocia are prepared to help clients make wise financial decisions when it comes to planning their estates.
Changes to the Alternative Minimum Tax
The Alternative Minimum Tax has caused problems in recent years, as arcane provisions have inadvertently caused many upwardly mobile middle class taxpayers to have to pay this tax. Now, however, the Alternative Minimum Tax is tied to inflation, which should cut down on these incidents. Good tax planning is both short term and long term, and at Gilman Ciocia, we can help you with both.
