In today's fast-paced world, making smart decisions about your taxes, insurance, and financial plans is more important than ever. With endless streams of information coming from every direction—whether it's from the internet, TV, or well-meaning friends—it's easy to get overwhelmed. That's why using common sense is a key factor in making sound financial choices. Common sense serves as a guiding principle, helping you cut through the noise and focus on what's practical, realistic, and aligned with your goals.

In this issue:

• Assets Transferred Before or After Death?
• Why Are Tax Refunds Shrinking?
• What To Do Before Forming an LLC
• Social Security Benefits and Location, Location, Location

I’m encountering more and more “tax strategies” that are actually just “tax fraud.” These strategies usually implement a complicated or convoluted entity structure to lessen or avoid taxes altogether. According to the Economic Substance Doctrine, these are not legal.

In the digital age, where social media doubles as a hub for financial advice, misconceptions about taxes and business structures are rampant. One prevalent myth is the notion that simply forming a Limited Liability Company (LLC) unlocks a treasure trove of previously unavailable tax deductions. This is simply not true.