Consider this scenario: You and your spouse have pooled your finances and share everything equally. As part of your estate plan, both of you decide you want to move assets […]
As we move into 2023, here are some state and local tax issues and compliance challenges to consider. State Tax Implications of Teleworking Employees During the pandemic, millions of employees […]
Summer is not that far off. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the […]
The lifetime gift and estate tax exemption will be increasing by $860,000 to $12.92 million per individual in 2023. Additionally, the annual gift tax exclusion will increase by $1,000 to […]
After a busy filing season, one of the frequently asked questions from my clients is whether the penalty and interest assessment on income tax notices they received could be waived. […]
The 179D deduction is not new, but the Inflation Reduction Act (IRA) changed its application and mechanics while greatly increasing the maximum potential benefit. This post is an overview of […]
According to a 2022 McKinsey survey of 25,000 people, 58% of all Americans report having the opportunity to work from home at least one day per week. About 35% report […]
The SECURE Act (the Act), enacted at the end of 2019, introduced sweeping changes to retirement plans. Estate planning revolving around retirement plan benefits has changed since the Act took […]
In the past year, many states adopted pass-through entity tax legislation as a workaround for the federal $10,000 state and local tax deduction cap. Currently, more than half of the […]