The importance of choosing the “right” guardian for your minor children
When creating an estate plan, the primary emphasis is typically on the disposition of assets and the related tax concerns; however, one of the most crucial planning decisions you can make is choosing who will serve as guardian of your minor children. The failure to designate a guardian in your estate plan will consequently put the lives of your minor children in the hands of the impersonal court system.—Kaitlyn B. Barnett
IRS sends letters to holders of cryptocurrency accounts — educational or enforcement?
In July, the IRS announced that it would be sending letters to taxpayers with one or more cryptocurrency accounts. The letters, which have now been sent, though seemingly educational, may be part of a greater enforcement effort surrounding these types of accounts.—Alexandra P. Crean
Federal tax credit for elderly dependent care
If you have elderly parents and pay for their care while you work, you may be eligible for a federal tax credit!—Dawn E. Lannon, CPA