by Susan Wilklow | Jul 15, 2026 | Uncategorized
Quick Answer: While itโs mechanically simple to add a name to a deed, doing so during your lifetime is a financial mistake that triggers unexpected IRS gift tax reporting and destroys your child’s future stepped-up basis tax shield. To safely bypass probate...
by Susan Wilklow | Jul 7, 2026 | Uncategorized
Quick Answer: The official US Full Retirement Age is 67 for anyone born in 1960 or later, but true retirement is an 11-to-13-year financial timeline stretching from age 62 to age 73 or 75. Your specific birth year determines where you fall on this milestone spectrum,...
by Susan Wilklow | Jun 29, 2026 | Uncategorized
Quick Answer: Effective for the 2026 tax year, the One Big Beautiful Bill Act (OBBBA) establishes a new universal deduction allowing non-itemizers to deduct up to $1,000 ($2,000 for married couples) for qualified cash donations directly from their income. And...
by Susan Wilklow | Jun 23, 2026 | Uncategorized
Quick Answer: Crypto taxes are calculated by subtracting your cost basis from your gross proceeds for each taxable sale, swap, or purchase made with cryptocurrency. The IRS treats crypto as property, so selling crypto, trading one token for another, or earning...
by Susan Wilklow | Jun 17, 2026 | Uncategorized
Quick Answer: Under the SECURE 2.0 beneficiary IRA tax rules, most non-spouse heirs must fully liquidate an inherited IRA within 10 years, with many also facing mandatory annual required minimum distributions (RMDs) if you pass away after age 73. Because the...
