A: Yes, actually. The exemption amount for people dying in 2022 will be $12.06 million per person, up from $11.70 million per person dying in 2021.
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Q: Will my 2 children have to pay any inheritance taxes when they receive their inheritance from me one day?
A: Whether or not your children will have to pay inheritance taxes will depend upon which state they reside in at the time of your demise! For example, if both your children live in California, they will NOT have to pay any inheritance taxes. However, if one of your...
Q: If I operate my small business as a sole proprietorship, will my personal assets be protected if my business causes harm to one of my customers?
A: Unfortunately, ALL of your personal assets will be on the hook for your mistakes as a business owner while operating as a sole proprietorship. Your only line of defense will be your insurance coverage, assuming you have it. On the other hand, if you had...
