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So far neuhauscpas has created 39 blog entries.

Healthcare Expenses and the HSA Account Part 2: HSA Plans as a Savings Vehicle

“Saving.” To many of us this is something we think about only in the theoretical sense. We may think: “If only there would be a savings plan that is simple to set up, can be fully automated, is tax deductible and can be accessed easily should the need arise, then I could turn saving into [...]

By |2018-07-04T12:22:22-04:00January 23rd, 2018|

Finding a place for the corporate tax structure under the Tax Cuts and Jobs Act

The enactment of the Tax Cuts and Jobs Act (TCJA) has renewed interest in the traditional corporate tax structure. The entity commonly known as the C Corporation; is taxed separately from its owners at both the Federal and State levels. The resulting second level of taxation on shareholder dividends, has stymied their use in the [...]

By |2018-07-04T12:22:53-04:00January 20th, 2018|

Healthcare Expenses and the HSA Account Part 1: Saving Money with a High Deductible Health Plan

Healthcare expenses are on what appears to be a ceaseless climb despite the so-called “Affordable Care Act.” As a cost saving measure, it is important to utilize tax deductions where available. Many of us are familiar with pre-tax health insurance premiums; however the Health Savings Account (HSA) account remains somewhat of an unknown. Employees and [...]

By |2018-06-27T11:26:34-04:00January 18th, 2018|

Estate Planning Techniques Part 3 – Irrevocable Life Insurance Trusts

Long considered a necessity by the insurance industry, the Irrevocable Life Insurance Trust (ILIT) is one of the best estate planning tools. An ILIT combines the leverage inherent in a whole life insurance policy, with the nuances of estate planning. The basic idea is quite simple. An Irrevocable Trust is established by an individual or [...]

By |2018-07-04T12:26:42-04:00March 20th, 2017|

Estate Planning Techniques Part 2 – Intentionally Defective Grantor Trusts

A very popular estate planning tool is the Intentionally Defective Grantor Trust (IDGT). Despite the implication of the name, there is nothing defective about an IDGT. Rather, it is an extremely cunning tool for the avoidance of estate taxes. An IDGT is established with two opposing goals. The first goal of the trust is to [...]

By |2018-07-04T12:30:16-04:00March 14th, 2017|

Estate Planning Techniques Part 1 – Grantor Retained Annuity Trusts (GRATs)

No one likes to pay taxes. This is especially true for wealthy individuals, who already pay the vast majority of the taxes collected. Gift and estate taxes are especially reviled, as they are essentially a second tax on assets already taxed when earned. There are many methods employed by the wealthy to avoid these taxes. [...]

By |2018-07-04T12:30:47-04:00March 1st, 2017|

Estate Planning and How It Impacts All of Us Part IV – New Jersey Estate Tax

2017 is the final year for a potentially large tax that can affect certain New Jersey households. New Jersey is one of just fifteen states that still have an estate tax (and one of just two with an inheritance tax as well). The New Jersey estate tax is levied on assets exceeding $2,000,000. This includes [...]

By |2018-07-04T12:37:51-04:00February 27th, 2017|

Estate Planning and How It Impacts All of Us Part III – The Federal Gift Tax

Federal Gift Tax rules are complex and often create a fair amount of confusion (State Gift Tax rules will be examined in a future article). The most counterintuitive aspect of the Gift Tax is that the tax is applied to the donor (the giver of the gift), rather than to the donee (the recipient of [...]

By |2018-07-04T12:37:17-04:00February 20th, 2017|

Estate Planning and How It Impacts All of Us Part II – Revocable Living Trusts, Wills and Living Wills, what do I need?

Revocable Living Trusts, Wills and Living Wills are terms that are often confused. From the outset, it is important to understand the objective of each of these instruments as well as their advantages and limitations. A Revocable Living Trust (or Living Trust) is a document that is created by an individual, known as the trust [...]

By |2018-07-04T12:40:08-04:00February 13th, 2017|