Beamalife Blog

Tax Deduction Tips – Smart Estate Planning Options for Doctors

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Even a couple of years back estate tax and income tax were not as foreboding as they are today. Children often moved into their parents’ houses after their parents passed

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Spousal Planning: Take Care of Excess Proceeds to Enjoy Tax Deduction

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The marital deduction is a great way to save taxes. It is two deductions that have a common purpose. The marital deduction has the power to shelter asset and property

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The Tax Cuts and Jobs Act of 2017 Highlights

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A Comparison of Key Provisions of the House and Senate Approved Versions On December 2, 2017, the U.S. Senate approved its version of the Tax Cut and Jobs Act of

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Section 6166: How It Can Become Your Knight That Protects Your Business

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Fair market value of property within an estate is the real retail value of the property. It ideally depends on the standard of “highest and best use.” It usually results

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How Is Financial Planning for Practicing Doctors Different and More Complicated?

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Often after a doctor builds his or her own estate, they are likely to pass them onto their next generations. It is possible that parents give their children a life

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How Can Small Business Owners Plan for a Secure Future for Their Family Members?

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Today, you are a highly successful doctor with your own private practice, a lovely home, maybe an apartment upstate, a beach house, a number of investments and more. However, what

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Estate Planning for Doctors: How to Meet Your Exemption Limits Without Giving Away Property?

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Estate planning is no more than a chore for maximum medical professionals. It is typical of doctors to find the process somewhat cumbersome, time-consuming and unnecessary. When done correctly, estate

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Buy-Sell Agreements in Estate Plans Can Meet Asset Protection, Estate Management, and Tax Deduction Needs

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Doctors who own a business have unique needs when it comes to estate planning and tax planning. Throughout their lives, they face numerous challenges in their profession. Most doctors in

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Business Planning Hurdles Business Owners Need to Deal With Today

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Like all small business owners, doctors with their private practice mainly focus on their day-to-day needs. However, what happens when you pass away should be a real concern for you

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A Physician’s Will: The Minimalist Guide to Inheritance Management for Doctors

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Doctors often do not have time for the added legalities and paperwork that comes with creating a will. When it comes sorting out assets and properties, their busy schedules keep

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