tax
There’s a common misconception that Social Security benefits are tax-free. In fact, many people pay federal tax on a portion of their benefits. Recent inflation has resulted in a record…
“Nonprobate assets” are those that bypass more traditional estate planning vehicles, such as a will or revocable trust. Instead, they’re transferred to family members through beneficiary designations. Nonprobate assets can…
The COVID-19 pandemic forced many employees to participate in a global experiment on the pros and cons of remote work. As a result, it’s here to stay for many businesses.…
Savvy investors know that taxes can have a big impact on their returns. And while tax considerations should generally take a back seat to sound investment strategies, as you review…
For most businesses, year-end tax planning involves a delicate balancing act, and the more flexibility that is built into the plan, the better. That’s because the tax code is in…
What is the Inflation Reduction Act? On August 16, 2022, President Joe Biden signed the Inflation Reduction Act (hereafter the Act) into law. The bill introduced a number of measures…
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much…
Social Security benefits: Do you have to pay tax on them? Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government…
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures…
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind”…
As you create your estate plan, your main objectives likely revolve around your family, both current and future generations. Your goals may include reducing estate tax liability so that you…
President Biden is seeking to bolster the IRS and enforcement of the tax laws over the next decade. In the last 10 years, the Internal Revenue Service’s funding has been…
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and…
This is the year to take the leap to e-file, to pay online, or request direct deposit of any refunds. The IRS has an enormous backlog of mail, an incredible…
Congratulations business owner! You’ve pivoted your business and learned how to keep your business going when your employees were ordered to stay at home. You have communicated with your clients…