If you own a home with a mortgage, you should receive an IRS form from your lender each year with information that is used to claim an itemized deduction for qualified residence interest. For 2016, that form should include additional information that could trigger unwanted attention from the IRS. Here’s what you should know about…
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Prenuptial Agreements as an Estate Planning Tool
Prenuptial agreements and domestic law vary from one state to another but nearly every state has laws that prevent one spouse from entirely disinheriting the other. However, with a prenuptial agreement, one spouse can waive his or her right to the other spouse’s estate. What if you are already re-married and didn’t sign a prenuptial…
When Goodwill Takes Center Stage
According to the International Glossary of Business Valuation Terms, goodwill is: “That intangible asset arising as a result of name, reputation, customer loyalty, location, products, and similar factors not separately identified.” It is really all the aggregate value of a business that exceeds the value of identifiable tangible and intangible assets. So when a business is valued…