Blog

Your Operating or Partnership Agreement and the New Audit Rules

July 11, 2018 by Stephen A. Lasky

The changes to the federal tax laws enacted in early 2018 provide for increased auditing of tax returns filed by partnerships and limited liability companies taxed as partnerships.  These changes are designed to increase the number of IRS audits of tax returns filed by these entities in an effort

Title 19 and the Medicaid Trust

June 11, 2018 by Moertl, Wilkins & Campbell, S.C.

There are many different types of trusts.  In the 90s, we prepared many trusts to avoid estate taxes (not an issue with most folks today).  In many cases, trusts are prepared to enable individuals to avoid probate, protect the needs of minor children or protect beneficiaries who may have disabili

Title 19 – The Nursing Home Scare

June 04, 2018 by Moertl, Wilkins & Campbell, S.C.

In 1960 a woman living in the United States had a life expectancy of 73 years.  In 2017, that life expectancy was 81 years.  However, we all know many individuals who are living well into their 90s.

Procrastination Planning and Title 19

May 29, 2018 by Moertl, Wilkins & Campbell, S.C.

PROCRASTINATION PLANNING AND TITLE 19

Title 19 and IRAs

May 21, 2018 by Moertl, Wilkins & Campbell, S.C.

What happens if your spouse enters a nursing home?  What assets are protected for you?  Will you still be able to afford to live independently?

Medicaid Protective Trust

January 16, 2018 by Moertl, Wilkins & Campbell, S.C.

It is not unusual for nursing home costs to exceed $12,000 per month.  For many individuals, a long term nursing home stay will be financially devastating.  The illness of one spouse will substantially deplete the assets available for the healthy spouse.

Tax Cuts and Jobs Act

January 03, 2018 by Stephen Lasky

The reconciled tax reform bill, commonly called the “Tax Cuts and Jobs Act” (“TCJA”), was signed into law on December 22, 2017.  The new law also includes significant changes for individual taxpayers, most of which take effect for 2018 and expire after 2025 (absent additional legislation).

Creating a Medicaid Plan

September 06, 2017 by Moertl, Wilkins & Campbell, S.C.

For anyone in the middle class, a long term illness can wipe out all assets in a heartbeat.  Hard earned money and a life time savings can be wiped out quickly when faced with monthly bills that can easily exceed $10,000 per month.

Income Tax Deduction for Medical Expenses

August 22, 2017 by Stephen Lasky

If you are under the age of 65, you can claim deductions for medical expenses not covered by your health insurance only if these expenses exceed 10% of your adjusted gross income.  A temporary exemption was in place through December 31, 2016 for individuals age 65 and older and their spouses that

Annuities and Medicaid – The Misunderstood Child

May 30, 2017 by Moertl, Wilkins & Campbell, S.C.

There has often been confusion about the role or purpose of annuities in Medicaid planning.  Is there a place for annuities or is this planning tool obsolete?

Pages