Archive - January 2016

1
Estate Planning: Keeping the Peace Among Your Heirs, pt. 2
2
IRS Wants Charities To Collect And Report Sensitive Donor Identity Information
3
Maintaining Confidence in an Uncertain World
4
4 Things to Consider When Changing Jobs
5
Tips for Tax Time

Estate Planning: Keeping the Peace Among Your Heirs, pt. 2

Part of the mission of Clarity Financial Planning is to help you take care of your loved ones and leave them a legacy if possible. What you don’t want is your good fortune to cause problems after you are gone.

In “Head Off Squabbles Among Your Heirs,” Kiplinger offers suggestions for things you can do to distribute your wealth in a way that hopefully reduces arguments. If you foresee tension, make someone other than an heir the executor. Depending on your state, you may be able to include a “no contest” clause, which means that anyone who contests …

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IRS Wants Charities To Collect And Report Sensitive Donor Identity Information

Late last year, the IRS proposed asking charities to collect sensitive donor identity information for any charitable gift of more than $250. As “IRS Elicits Vehement Reaction to Proposed Donor Substantiation Rule” reported:

The information collected by the nonprofit would include donors’ name, address, Social Security or other taxpayer identification number, and the amount of cash or a description of property donated. Nonprofits that use the option would also be required to provide a copy by the February date to each donor listed, revealing information specific to the donor.

In a joint letter to the IRS, 215 nonprofit

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Maintaining Confidence in an Uncertain World

All around us, every day, we see signs of an unstable financial world. The stock market has been all over the place, instability continues in the Middle East (like it will ever change?); at home we’re confronted by a presidential election that offers little choice other than to hold your nose and vote for the one that you believe is likely to do the least damage. Add to this the rising cost of “getting by” and there’s little wonder many folks are very concerned  and have little confidence about the future.

What Can You Do?

I don’t suggest hiding under …

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4 Things to Consider When Changing Jobs

Whether you are starting a new job or if you’ve been laid off, there are many things to consider during a life event like this. Today we’ll share four things that you may want to consider high priority at such a time.

  1. Maintain your health insurance after you are laid off. (Assuming you have good coverage, also consider using your current insurance benefits while you still have them.)
    • COBRA is an acronym used to describe continuing coverage through your former employer’s group health insurance plan. Will you receive COBRA coverage for a period of time as part of a severance
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Tips for Tax Time

Given that it the start of tax season and individuals will be gathering and preparing their 2015 tax return information, I’d thought I’d put together some basic tax tips. Individuals may consider thinking about these items in order to have a smooth and (hopefully) stress-free 2015 tax season.

Additionally, I’ve included a link to our 2015 Tax organizer.

http://blankenshipfinancial.com/wp-content/uploads/2016/01/2016-BFP-NEW-TAX-ORGANIZER.pdf

Please feel free to use it at your convenience to get your “tax ducks in a row”. Furthermore, please let us know if you’d like us to prepare and file your taxes for you. Many current clients have found Blankenship Financial …

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