Welcome to 2023! It’s the start of a new year, a new month, and it’s time for new resolutions. Now, while anyone can set goals or make good old-fashioned New Year’s resolutions, seniors tend to struggle the most. Goal setting can seem irrelevant later in life, but research begs to differ. Instead, goal setting can be a factor in slowing…
In Part I of this series on taxes, we discussed federal taxes, and in Part II, we discussed state taxes. For Part III, we will discuss local taxes in California and generally. In California, local taxes are typically handled through the county tax assessor/collector. We will specifically discuss property taxes and taxes on the transfers of property. Local Taxes: Property…
In Part I of this series on taxes, we discussed federal taxes. For Part II, we will discuss state taxes. State Taxes: Income Taxes The first type of state tax that affects estate planning is individual income tax. Like federal income tax, state income tax can apply to individuals, married couples, and entities, including trusts. Income tax is a tax…
