Research suggests that creating an annual budget instead of a monthly one works best, largely because we feel less confident in our annual estimates, so we tend to add more cushioning for unexpected expenses.
According to a recent study published in Science magazine, if you’re poor and mismanage your money, you may be very capable of making good financial decisions.
Thanks to the $5 million federal estate tax exemption for those who die in 2011 or 2012, most folks are not exposed to the federal estate tax right now.
Stepped-up basis is the term used to describe the basis of property that a taxpayer receives from a decedent under the Internal Revenue Code § 1014(a).
When someone dies, heirs can be surprised to learn what the estate holds for them. They aren’t alone, either: Estates are often shrouded in some mystery even for the people who plan and manage them.