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What kind of records should I keep

You may choose any recordkeeping system suited to your business that clearly shows your income and expenses. The business you are in affects the type of records you need to keep for federal tax purposes. Your recordkeeping system should include a summary of your business transactions. This summary is ordinarily made in your business books…
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Why You Should Pick the Executor of Your Will Carefully — Part Two

In my previous column, I discussed the responsibilities of executors, the persons who are the key figures in the settling of estates. Here, I’ll discuss why this is crucial and how badly things turned out for executors who failed to obtain the proper tax advice. The need to obtain the right kind of advice was made…
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Why You Should Pick the Executor of a Will Carefully — Part One

There are two duties most people would gladly put off as long as possible: The first is writing a will, and the second is updating it to reflect changed circumstances. Whenever you decide to get around to this task, it’s crucial to name the right executors. Regarding the first chore, my client roster includes recalcitrant…
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