Q. I own a few rental properties and have a respectable investment portfolio, but there is no way I am gifting everything to my kids now. I don't trust them.
I have asked 4 "professionals" and they all have a different answer for me.
I have asked 4 "professionals" and they all have a different answer for me.
A. This will help you definitely. In fact, it is exactly for people like you that we talk about this on our website. The gift tax expemption drops from $5M to $1M Jan.1, 2013, so if your total assets are worth more then that you will want to take advantage it this year. Watch the video here: http://press-releases.ultratrust.com/irs-giving-away-trillions-to-heirs-of-millionaires.html
You definitely don't want to gift things to your kids espcially if they are not mature enough to make difficult financial decisions. You should create an irrevocable trust for the benefit of you and your children. Your CPA will help you file a gift tax return and elect to use your gift exemption so there is no gift taxes. This will help you also avoid probate court and avoid estate taxes. Typically if strucutred correctly, it could also help you avoid a lawsuit and minimize your odds of an audit.
You definitely don't want to gift things to your kids espcially if they are not mature enough to make difficult financial decisions. You should create an irrevocable trust for the benefit of you and your children. Your CPA will help you file a gift tax return and elect to use your gift exemption so there is no gift taxes. This will help you also avoid probate court and avoid estate taxes. Typically if strucutred correctly, it could also help you avoid a lawsuit and minimize your odds of an audit.
How do I tighten a loose knob on my blue yeti usb mic?
Q. I received a blue yeti usb mic as an early Christmas gift. Everything works wonderfully, but the problem is that the mute button is very loose. If I grip the button with my fingers it will come off, thats how loose it is. The button also surves around left to right with no effort and that's also how I know it's loose. Can anyone tell me how to fix it? Is it normal for the button to come off? Or should I just take the mic back
A. send it back dude
What is my truck leaking and what fluids can I check myself?
Q. I received my late Uncle's '91 Silverado as a Christmas gift. Everything has been running great, especially for the age of the truck. It has 198xxx miles. I've noticed lately that a small substance has been leaking under the front of the truck. It's not a big puddle, but collects a noticeable amount none the less.
I've ruled out it being Coolant, Gasoline, and wiper fluid (although I'm just going by color, scent, and viscosity). My best guess is either Auto Transmission Fluid or Oil.
I'm just asking if anyone has experience with what this probably could be and if you could direct me to a website (or explain yourself) how I can check all the levels myself from home before going to the mechanic. Basically, where everything is located once I pop the hood.
Any and all help would be much appreciated. Thank you.
I've ruled out it being Coolant, Gasoline, and wiper fluid (although I'm just going by color, scent, and viscosity). My best guess is either Auto Transmission Fluid or Oil.
I'm just asking if anyone has experience with what this probably could be and if you could direct me to a website (or explain yourself) how I can check all the levels myself from home before going to the mechanic. Basically, where everything is located once I pop the hood.
Any and all help would be much appreciated. Thank you.
A. Well, you've already ruled out coolant, wiper fluid and gasoline so that leaves brake fluid, power steering fluid, oil or automatic transmission fluid.
Check your brake master cylinder, power steering pump / lines and the transmission.
Park the truck on a somewhat clean surface or place newspapers under the engine and transmission areas.
Locate the area of the leak then start looking in that area.
Chances are it's either a leaky hose or a bad seal in one of the aforementioned components.
The brake master cylinder is located on the firewall on the driver's side.
The power steering pump is near the front of the engine, usually on the driver's side as well.
Transmission (and lines) self explanatory.
Engine oil can appear anywhere under the engine depending on the area of the leak.
Check your brake master cylinder, power steering pump / lines and the transmission.
Park the truck on a somewhat clean surface or place newspapers under the engine and transmission areas.
Locate the area of the leak then start looking in that area.
Chances are it's either a leaky hose or a bad seal in one of the aforementioned components.
The brake master cylinder is located on the firewall on the driver's side.
The power steering pump is near the front of the engine, usually on the driver's side as well.
Transmission (and lines) self explanatory.
Engine oil can appear anywhere under the engine depending on the area of the leak.
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