We are picking up where we left off (here) with our discussion of the lawsuits over Hollywood legend Mickey Rooney's will. When Rooney died in April, his widow, Jan, told the press she had not seen him for a year. It seems the couple had separated after Rooney accused...
Month: May 2014
Facing an audit? First, take a deep breath – but then what? cont.
We are back to discussing what the average taxpayer should do if the mails brings an audit notice from the IRS. In our May 16 post, we talked about the odds of being audited -- very slim for someone with an average paycheck -- and the types of things on a tax return...
In dramatic twist, family members contest Mickey Rooney’s will
When we wrote in early April (here) about Mickey Rooney's death, we briefly touched on the situation with his estranged wife, Jan. The couple had been married for 36 years, but when Rooney passed away at age 93, Jan told the press that she had not seen her husband for...
Facing an audit? First, take a deep breath – but then what?
As we said in our May 2 post, the average American taxpayer has a 1 percent chance of being audited by the IRS. The chance increases to 3.26 percent, though, for taxpayers earning $200,000 in 2013. If you earned more than $1 million -- not unheard of in the Bay Area...
Sale of investment property is anything but simple
An individual is planning on selling their rental home that they have kept as an investment for ten years. They paid $400,000 on the property and have sold it for $500,000. They have also made no capital improvements upon it and are not paying for closing costs or...
How much do I have to worry about an IRS audit?
Although most Americans have already filed their 2013 taxes and are waiting to hear back from the IRS, there are still some who have yet to submit their returns. One of the thoughts on many taxpayers’ minds after submitting their tax return is, “I hope...
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Even a fortune can disappear without sound estate planning
Some figures baffle.Like the speed of light. Like the age and size of the universe. And like estimates pegging the personal fortunes of America's richest families.Consider this imagery relevant to the storied Vanderbilt family for a moment: a pile of money equaling...
Broad, measured thinking out of the box promotes sound estate planning
"You own this." Those words might sound frightening to a would-be California estate planner, but they are actually meant to promote a feeling of empowerment rather than intimidation. It is no secret that legions of...
Remarrying couples unquestionably need to focus on estate planning
Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new realities.Don't be one of them. Many remarrying California individuals fail to timely consider and update existing estate plans to reflect new...
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