If you want certain individuals to receive property from your estate, there may be advantages to making those gifts while you are still alive.
tax deducations
Don’t Overlook Valuable Tax Credits
Tax credits are one of the most powerful ways to lower your income taxes. A tax credit reduces your tax bill dollar for dollar. A tax deduction, on the other hand, only reduces your taxable income, so your benefit is determined by your tax bracket. For example, a tax deduction of $1,000 will lower your […]