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Louisiana Estate Planning & Elder Law Blog

How to Start Your Business Year Strong

Jan 6, 2022 9:30:00 AM

It has been a tough couple of years for many small businesses, but, as the adage goes, what doesn’t kill you makes you stronger.

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The Probate Process and Outstanding Debts

Jan 5, 2022 6:00:00 AM

Probate can be avoided if you have the right strategy in place, saving you money in taxes, avoiding public proceedings, and the requirement for court approval. It can save you time, frustration, and in many cases, significant attorney and court fees. Your personal representative sometimes referred to as an executor, must formally notify all your creditors of your death. This action is one of the first steps in the probate process. Often this is...

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Saver-Investor Strategy Builds Wealth

Dec 29, 2021 8:15:00 AM

If you want to become a self-made millionaire and you are a millennial or younger, there is a path you can follow to make this a reality. It does not require a unique set of skills, specialized knowledge, or even excessive risks. Americans who achieve millionaire and multi-millionaire status using this technique took an average of about 32 years to accumulate multi-million dollar wealth with some achieving it in as early as 18 years. They are...

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Prepare for Important Decisions with Advance Health-Care Directives

Dec 22, 2021 8:15:00 AM

Imagining how we may die is probably one of the hardest things we will ever have to think about. Yet, if we want our dying to be meaningful and merciful, it is imperative that we think about it while we still can. Most of us want to die at home, in a familiar and peaceful setting surrounded by loved ones. We would much rather not spend our last moments in an emergency room or ICU, with strangers futilely pounding on our chests and our families...

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Most Common Tax Deductions for Small Businesses

Dec 21, 2021 8:08:00 AM

There are many expenses incurred in starting, running, and growing a business. Luckily for business owners, many of these expenses can be deducted. Knowing which expenses you can deduct helps to lower your tax burden and keep more money in your business. However, inflated business tax deductions can attract the attention of the Internal Revenue Service (IRS).

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Four Ways Freelancers and Gig Workers Can Trim Their Tax Bills

Dec 16, 2021 11:38:00 AM

It is hard to beat the freedom and flexibility of freelancing and gig work. When you work for yourself, you can set your own hours, turn your home into an office and even ditch the daily commute.

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A Letter of Instruction Is an Important Part of an Estate Plan

Dec 15, 2021 8:15:00 AM

In estate planning, a letter of instruction is an essential element of the overall plan. It is an informal document that will give your loved one’s important information about personal and financial matters after your death. Letters of instruction are not legally binding and do not replace your need for a will or a living trust, however, they can be a nice complement to those documents. The informal nature allows you to create the letter on your...

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Tax Deductions You May Be Eligible for as a Freelancer

Dec 9, 2021 9:45:00 AM

Tax season can be a stressful time, especially for freelancers who might owe taxes at the end of the year. It can be overwhelming to look at the tax debt you owe from the profits you have made.

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Seniors Aided by New Technological Advances Enabling Aging in Place

Dec 8, 2021 8:15:00 AM

With the boom in the elderly population, the technology industry has taken initiative to develop technologies that assist the elderly in many ways. There are continuous developments and implementations of inventive digital Internet of Things (IoT) solutions that transform the lives of aging adults as well as their caregivers. Each new tech development cycle strives to provide a product that is more robust while increasing its ease of use....

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Complying With Quarterly Estimated Taxes

Dec 3, 2021 9:30:00 AM

Tax day is one of the most important—and one of the most dreaded—days on the calendar for working Americans. Although April 15 is usually the date that federal taxes are due, the Internal Revenue Service (IRS) extended the tax deadline in 2019 and 2020 due to the COVID-19 pandemic. During this time, you may have picked up a side gig or even transitioned to full-time self-employment. If so, you will have to make estimated quarterly tax payments.

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