Tax Day

Tax Day was two days ago. This year was better for me than last year. I had to pay only $200 in taxes. The recession is one reason I had a lower tax bill.

My grandmother’s tax preparation was a nightmare. My grandfather passed away in 2012. Therefore, we as a family had to hire a tax lawyer to determine his last will and testament, estate and gift planning, probate, living will declaration and durable power of attorney, business succession planning, and dynasty trust/planning for multiple generations. I am not sure what each of the preceding terms mean. Our tax lawyer in Sacramento made it an easy process for us.

One of my friends did not fair well on April 15th. She has been involved in bankruptcy and tax litigation for the past few months. She had a terrible break up of her consulting forensic nursing business partnership.

My aunt did exceedingly well on April 15th. She plans on establishing a living trust, living will declaration and durable power of attorney, wealth preservation plan, forensic nursing business succession plan, retirement benefit plan, more with a life insurance plan, trust for health and education expenses, dynasty trust/plan for multiple generations, private foundation and other charitable giving techniques, and lifetime gifting plan. I do not know what this all means, but the same Sacramento tax attorney lawyer is assisting her.

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