Education and Information - Financial

Education & Information

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Client service and education to keep up with you!

What is your Financial Direction

Products come and go, but your financial direction rarely changes. Compasses point N E W S, North, East, West, South. A compass that only points North may be an issue should you need to head in another direction.

TUSK's financial direction strategies include:

Income now - Spend more and reduce risk in retirement. Tax-efficient and Guaranteed. Risk-based stock market management and portfolio theory review. You earned it. Protect it.
Future income replacement - someday, the income may need to come from another source, be ready.
Long-term care planning and products, we prefer free and low-cost strategies built into other directional assets.
Tax-efficient Wealth Transfer Strategies, asset optimization, your legacy.
Business planning, start-up and exit strategies, compliance, executive retention and corporate wellness. Personal and Business coordination and policy efficiency. An owned business is an extension of the owner, and one can impact the other. With coordination comes efficiency, and efficiency hits the bottom line, increase the quality of life and pays the right amount at the right time.

Estate Tax It's not for everyone

Estate Tax for U.S. Citizens

The Estate Tax is a tax on your right to transfer property at your death. It consists of accounting for everything you own or have certain interests in at the date of death. The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them. The total of all of these items is your "Gross Estate." The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets.
Once you have accounted for the Gross Estate, certain deductions (and in special circumstances, reductions to value) are allowed in arriving at your "Taxable Estate." These deductions may include mortgages and other debts, estate administration expenses, property that passes to surviving spouses and qualified charities. The value of some operating business interests or farms may be reduced for estates that qualify.

After the net amount is computed, the value of lifetime taxable gifts (beginning with gifts made in 1977) is added to this number, and the tax is computed. The available unified credit then reduces the tax.

Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return.

A filing is required for estates with combined gross assets and prior taxable gifts exceeding $1,500,000 in 2004 - 2005; $2,000,000 in 2006 - 2008; $3,500,000 for decedents dying in 2009; and $5,000,000 or more for decedent's dying in 2010 and 2011 (note: there are special rules for decedents dying in 2010); $5,120,000 in 2012, $5,250,000 in 2013, $5,340,000 in 2014, $5,430,000 in 2015, $5,450,000 in 2016, $5,490,000 in 2017, $11,180,000 in 2018, $11,400,000 in 2019, and $11,580,000 in 2020.

Beginning January 1, 2011, estates of decedents survived by a spouse may elect to pass any of the decedent’s unused exemption to the surviving spouse. This election is made on a timely filed estate tax return for the decedent with a surviving spouse. Note that simplified valuation provisions apply for those estates without a filing requirement absent the portability election.

Under the current tax law, the higher estate and gift tax exemption will sunset on December 31, 2025. Starting January 1, 2026, the exemption will return to $5 million adjusted for inflation, which may land somewhere between $6 million and $7 million with inflation.

Talk to TUSK today and plan a tax-efficient transfer of assets for your estate and legacy.

Life Insurance is only one approach to mitigation of taxes for your legacy. Today, find out how TUSK manages financial and investments for your tax-free legacy.

Double your estate tax-free with Guaranteed assets.

*TUSK and their representatives do not offer tax or legal advice. We encourage you to seek tax & legal advice from appropriately credentialed professionals, including a CPA for tax advice and an Attorney for legal advice.

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