Do you owe Gift Tax?

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Do you owe Gift Tax? Most people aren’t even aware a Gift Tax actually exists! Well, for simplistic purposes, gift tax is a tax placed on any gifts, which you have given to someone while you are still living. Even though you are allowed to give any amount b/w spouses with no gift tax affects, there is a current annual …

Is Your Will Worthless?

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Is your Will worthless? While a wonderfully drafted Will helps to transfer wealth and hopefully minimize inheritance tax, a Will without proper estate planning can sometimes become worthless. Beneficiary designations, ownership titles, or transfer on death provisions all have affects which could negate a wonderfully drafted Will all together. It is important to make sure your complete estate plan involves …

Social Security in Trouble

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Recently a question was asked to Barack Obama about Social Security. The President remarked: “So here’s the thing. Social Security is not in a crisis.” Hold up a minute, maybe the President has not read the Trustee’s of Social Security Annual report issued August 5th 2010. The “Social Security Act” requires the Trustees of Social Security Trust Fund to report …

Roth Conversions – “The Gamble of a Lifetime”

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This Article actually won Andy the coveted “2010 Fi360 Article Competition”.  Fi360 promotes Fiduciary Excellence among financial advisors, which we at MMS Inc. take very seriously.  Fi360 owns and awards the AIF and AIFA professional designations, provides analytical and reporting technology and ongoing support for all types of fiduciaries and financial service providers, including advisors, wealth managers, plan sponsors, trustees, …