When a loved one who was "financially comfortable" passes away, his or her family must deal with the emotional issues that come with the loss — as well as winding up the decedent's financial affairs. Surviving family members are often unprepared for the tax issues that may...
More than ever, it is important for individuals and businesses to enter into detailed tax planning. Due to the complexity of the tax law, the details are often left to the tax advisor, but having a basic understanding of how the new tax reform may...
In the Tax Cuts and Jobs Act of 2017 (Tax Act), changes to business taxation are considerable and comprehensive. Because many of our clients are structured as pass-through entities and small businesses, we wanted to address several of the most significant changes for 2018 tax...
If your 2015 tax liability is higher than you’d hoped and you’re ready to transfer some assets to your loved ones, now may be the time to get started. Giving away assets will, of course, help reduce the size of your taxable estate. But with...
Nov 22, 2016 A brief overview of the President-elect’s tax plan for individuals Now that Donald Trump has been elected President of the United States and Republicans have retained control of both chambers of Congress, an overhaul of the U.S. tax code next year is likely. President-elect...
Sep 2, 2016 Giving away assets during your life will help reduce the size of your taxable estate, which is beneficial if you have a large estate that could be subject to estate taxes. For 2016, the lifetime gift and estate tax exemption is $5.45 million...