A Brokerage account is tied to Investments. For example Wells Fargo may have your investment account and so there fore, interest from your (lets say bonds) may be deposited into your brokerage account. Typically a brokerage account or money market account will earn interest but you are required to keep a min balance.

Should you have one? that is a decision you and your financial
advisor should answer. If you have investments then it would probably be a good choice.

You can contribute to an IRA the amounts for 2010 are

up to $5,000 below age 50 $6,000 age 50 to age 70 1/2, of course there are some exceptions. For more information you may contact me if you like.

If your self employed business is a pass through entity. (meaning the profit or loss will pass to your personal income tax return on the front of your 1040) for example a Schedule C . the profit or loss from Schedule C will be reported on line 12 for the year 2010. If it shows a loss it will be subtracted from your Total income. (reducing your income)
If however you are an employee and are allowed to deduct employee business expenses on form 2106 that would flow to your Schedule A itemized deductions. Which only the amount above 2% of your adjusted gross income could you deduct. With a business you can deduct every expense directly related to your business (make sure you keep really good records and receipts). There is a great deal more information regarding this topic. You may contact me for more information if you like.

Depending on type of bankruptcy filed. Generally tax and tax liens are not discharged.

This is a really a big question.
There are several forms that have to be filled out to compute the net amount. 1041 is the Estate Return, form 709 is Unified credit of gift tax. Form 706 is Unified credit for estate tax.
After the net amount is computed, the value of lifetime taxable gifts (beginning with gifts made in 1977) is added to this number and the tax is computed. The tax is then reduced by the available unified credit. Presently, the amount of this credit reduces the computed tax so that only total taxable estates and lifetime gifts that exceed $1,000,000 will actually have to pay tax.

There is a great deal of information and steps to this, so give me a call or email me and I will be glad to assist you.

1. 
   
   Marital Deduction: One of the primary deductions for married
   decedents is the Marital Deduction. All property that is included in the
   gross estate and passes to the surviving spouse is eligible for the
   marital deduction. The property must pass “outright.” In some cases,
   certain life estates also qualify for the marital deduction.

2. 
   
   Charitable Deduction: If the decedent leaves property to a qualifying charity, it is deductible from the gross estate.

3. 
   
   Mortgages and Debt.

4. 
   
   Administration expenses of the estate.

5. 
   
   Losses during estate administration.

I agree with Dennis, but look at the interest rates and fees on your higher balanced loans. It could be beneficial to pay off the higher interest rates first, and the reasoning is that you may be making payments and most or all may be going to interest and very little to principle. But Dennis is right get out of debt and stay out of debt and start investing to build wealth.

Any professional fees paid, ie; attorney fees or Accounting fees. Which will be included on your Schedule A

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There are many types of insurance you should carry when you are self employed. You do however need to carry workers comp insurance on your employees, and you need to pay federal and state unemployment tax also on your employees. And if you offer health insurance to some employees, it must be specific in nature to what the criteria is to qualify for the health insurance.
Hope this helps.

One of many reasons for estate planning is for tax purposes. Should you pass away (God forbid) in 2011, you add all the gifts you have given to your children and what amount they would receive upon your passing, your credit amount is $1,000,000.00 for 2011 and any amount above that they would then have to pay Estate taxes on.
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Hi, yes all of your very important documents should be kept in a secured area. A safety deposit box, a safe at home.

Unfortunately no, it does not have the same impact on your credit score like a default, but it will hurt your credit score.

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