Jeff Cooper Tax Services

FAQ’s

What kind of asset protection advice do you have?

Asset Protection strategies start with reviewing the rules of the State in which you live.  Each State is different but States like Florida provide good home protection.  Also most states cannot touch 401ks.  If asset protection is important for you, then there are two things you can do to prepare.  First, ask your insurance agent about an umbrella policy.  A $1 million policy will cost between $300 to $400 a year.

Second, there is a web site, www.apbook.com, that has a plethora of information and examines many strategies for asset protection.  After your initial review, call for an appointment to review your situation.

What are the standard rate changes for 2007?

The 2007 personal exemption is $3,400.  The 2007 standard deduction for MFJ is $10,700.  The business mileage rate is 48.5 cents, medical mileage rate is 20 cents and the charitable mileage rate is 14 cents.  Gifts of $12,000 can be given tax free in 2007.

Items of Interest

(Coming soon)