5 Things to Know to Reduce Your Tax on Capital Gains Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here's what you need to know to do such planning: What is capital gain? Capital gain is the difference between the "basis" in property -- usually real estate or stocks, but also including artwork and collectibles -- and its selling price. The basis is usually the [...]


Have Private Insurance and Are Turning 65? You Need Sign Up for Medicare Part B If you are paying for your own insurance, you may think you do not need to sign up for Medicare when you turn 65. However, not signing up for Medicare Part B right away can cost you down the road. You can first sign up for Medicare during your Initial Enrollment Period, which is the seven-month period that includes the three months before the month you become eligible (usually age 65), the month you are eligible [...]


Why Not Just Use an Off-the-Shelf Power of Attorney Form? A durable power of attorney is one of the most important estate planning documents you can have. It allows you to appoint someone to act for you (your "agent" or "attorney-in-fact") if you become incapacitated. Without a power of attorney, your loved ones would not be able to make decisions for you or manage your finances without asking the court to appoint a guardian or conservator, which is an expensive and time-consuming process.  [...]


Understanding Tenancy: The Different Ways to Co-Own Property When two or more individuals own property -- whether it's a condominium, a home, or a piece of land -- the relationship between the owners is very important. The form of ownership of the property affects how property is transferred to someone else. It is important to make sure you have the right form of ownership for your property. Tenancy in common allows an owner the greatest flexibility to transfer the property as he or she wants. [...]


Learn About Social Security's Online Tools With the aging population becoming increasingly tech savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help. To access most of the online services, you need to create a my Social Security account. This account allows you to receive personalized estimates of future benefits based on your real earnings, see your latest statement, [...]


Connect With Us