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Tax Planning for New York Estates

The federal lifetime gift and estate exemption has been a hit with high net worth individuals. However, these individuals need to keep in mind that along with the federal estate […]

Three Issues to Consider Once You Have Filed Your Tax Return

After your 2021 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations: 1. You can throw […]

Use Tax Audits Can Be Triggered by Imported Goods

If you have been reading Berdon blogs for any time now, you are probably familiar with use tax, the other side of sales tax. Use tax is imposed on the […]

Cybersecurity and Protecting Your Investments in the Wild West of Cryptocurrency

Although cryptocurrency is not new, Bitcoin was conceptualized when Satoshi Nakamoto released the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008, the technology and regulation of crypto is […]

A Practical Guide to the Tri-State Pass-Through Entity Taxes

This is a practical guide to navigating the main concepts associated with the pass-through entity (PTE) taxes for New York, New Jersey, and Connecticut. First, we cover some of the […]

Pass-Through Entity Tax Election – Don’t Wait Until Next Year to Decide

Leading up to March 15, I spent a lot of time advising clients in connection with the pass-through entity tax (PTET) election for the 2021 tax year—whether and how to […]

Sticky Learning: Training Tips to Get Employees up to Speed on the Job

From a new employee’s perspective, onboarding is a time when they are hit with a lot of information all at once. While this information is relevant, important, and time-sensitive, new […]

Spousal Lifetime Access Trusts

Steve and Madison have done well during their lifetime and accumulated a significant net worth. They have not done any estate planning over the years. However, due to a recent […]

Meticulous Records — Key to Tax Deductions, Painless IRS Audits

If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses […]