Introduction to Morrissette The recent Tax Court decision in the Estate of Morrissette v. Commission, T.C. Memo 2021-60 (May 13, 2021) put the kibosh on a complex insurance tax plan and handed the IRS a victory. The case has been nicknamed in the tax planning community as “Morrissette II” since it follows a case for
Retirement
Hurricane season begins this month. Soon talking about the weather and the impact of climate change will not be about simply making conversation, but about planning and, for some, urgency and action at a life stage popularly described as a time to retire and relax. David and Rachel were years ahead of everyone else in
By Chris Farrell, Next Avenue Enjoyed a meal with friends at a restaurant recently? Booked a trip for your summer vacation? You don’t need government data to see that the economy is gathering momentum with the Covid-19 vaccine rollout; Wall Street and Corporate America are exuding confidence about it. Yet not everyone shares their optimism, including
By Nancy Collamer, Next Avenue American workers are heading back to the office. Nearly half of employers expect to reopen their workplaces during the third quarter of 2021, and an additional 25% hope to do so by the end of the year, according to a recent Gartner IT survey of 258 HR leaders. For some, the return to
By Deborah L. Jacobs, Next Avenue At an age when other people might be thinking of retirement, Robert Carmack and Morrison Polkinghorne, now 68 and 55, moved from Sydney, Australia to Cambodia in 2014 with a dream and a plan. The goal was to lower their expenses and operate three well-established businesses from overseas. Polkinghorne, an Australian
Today’s column addresses questions about the earnings test, working and filing early, withdrawing a benefit after filing for it and proving marriage to and divorce from a deceased ex-spouse. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security
Mortgage forbearance temporarily eliminated your mortgage payment obligation, which may have saved you from foreclosure, but you are now back on your feet and facing repayment options. One of those options, offered by both Fannie Mae FNMA and Freddie Mac, is deferral of the payments that had been missed. This is explained by Freddie Mac
At a friend’s BBQ the other day, I was approached by a soon-to be-retiree. Normally, I get cornered at social gatherings by folks looking for a hot stock tip or my thoughts on cryptocurrency. This gentleman, however, came with a much different intention. He wished to discuss his current predicament, a strong concern about inflation
Inflation in the United States has been mostly modest since 1982. That means that for 40 years, Americans have not had to worry much about the price of goods and services changing from year to year or the devaluation of the U.S. Dollar. However, signs are pointing to the possibility of inflation soon, so it
As the world begins to come out the other side of the pandemic crisis of the past year-and-a-half, some of the most appealing options for living and retiring overseas are open for business. Here are six places where you could retire overseas today… #1: Mexico Mexico is an American’s most accessible retire-overseas option. Depending where