Trusts are an excellent way to provide for the support and care of children while protecting them. Two important reasons...
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I know the fall open enrollment period has passed but I heard there are other times of the year when beneficiaries can make additional changes. When is it possible to make changes to my current Medicare coverage? The annual Medicare open enrollment period is not your only opportunity to change your Medicare coverage. The timing of when you can make changes depends on your specific circumstances and the kind of Medicare coverage you have. Here is what you should know. Medicare Advantage Change If you are enrolled in a Medicare Advantage Plan, you can make changes during the Medicare Advantage Open Enrollment Period which occurs each year from January 1 through March 31. During this...
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In IR-2023-12 the Internal Revenue Service (IRS) reminded taxpayers to report all digital asset income on their 2022 income tax returns. All taxpayers must answer a digital asset question on IRS Form 1040. The IRS has expanded and clarified instructions with respect to the question. The question asks, "At any time during 2022, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?" Digital assets include cryptocurrency, stablecoins or non-fungible tokens (NFTs). All taxpayers who file IRS Forms 1040, 1040-SR or 1040-NR must answer either "Yes" or "No"...
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