Marriages in St Petersburg Florida

4 financial planning tips for second marriages

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Every year, a substantial percentage of weddings aren’t first-time nuptials but second (or subsequent) marriages. Here are four tips to help such partners better manage the situation: Take inventory. Identify the assets and liabilities each person brings to the union. If one...
Divorce in St Petersburg Florida

Tax Planning for a Home in a Divorce

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Selling in the Year of Divorce or Later When a couple is divorced as of the end of the year their principal residence is sold, the tax law considers them divorced for the entire year. Therefore, they are unable to file jointly for the year of sale. Of course, the same is true...
Pre-nups in St Petersburg Florida

Pre-nups Can Be an Effective Estate Planning Tool When Remarrying

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Whether you are a man or a woman, if you’re getting married and have substantial assets, you should set up a pre-nuptial agreement. With nearly 50% of American marriages breaking up, a pre-nup can protect everyone and save a lot of heartache. The basics are simple and the...
Wedding in St Petersburg Florida

Wedding Bells and Taxes: Tax Issues to Consider Before Tying the Knot

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Summer — the traditional wedding season — is just around the corner. Marriage changes life in many ways. Here’s how it may affect your tax situation. Marital Status Your marital status at year end determines your tax filing options for the entire year. If you’re...
Marriage Penalty in St Petersburg Florida

Marriage penalty leaves many (but not all) newlyweds singing a sad tune

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Love and marriage — according to the song, they go together like a horse and carriage. But matrimony can leave some couples singing a sad tune when they encounter the ominously named “marriage penalty.” However, for other couples, marriage brings tax-saving opportunities. In a...
Marriage in St Petersburg Florida

For Richer or Poorer: Financial and Legal Considerations in Marriage

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Last year, the average U.S. wedding cost $32,641 — including engagement rings but excluding honeymoons — according to the 2015 Real Weddings Study published by The Knot, a wedding marketplace and concierge service. That staggering amount represents an increase of more than $5,500...
Market Rates in St Petersburg Florida

When divorce cases get sticky – Make sure business owners base their pay on current market rates

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Divorce can be messy, especially when it involves a controlling interest in a closely held business that has the power to set compensation levels. A professional valuator can help evaluate owners’ compensation, providing objective data sources that enable you to arrive at a fair...
Married in St Petersburg Florida

Married filers, the choice is yours

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Some married couples assume they have to file their tax returns jointly. Others may know they have a choice but not want to rock the boat by filing separately. The truth is that there’s no harm in at least considering your options every year. Granted, married taxpayers who file...
Your Taxes in St Petersburg Florida

Summer time is a good time to start planning and organizing your taxes

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You may be tempted to forget all about your taxes once you’ve filed your tax return, but that’s not a good idea. If you start your tax planning now, you may avoid a tax surprise when you file next year. Also, now is a good time to set up a system so you can keep your tax records...
Important Tax Figures for 2015

Important Tax Figures for 2015

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The following table provides some important federal tax information for 2015, as compared with 2014. Some of the dollar amounts changed due to inflation. Other amounts changed due to legislation. Social Security/ Medicare 2015 2014 Social Security Tax Wage Base $118,500 $117,000...
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