Estate Planning

Navigating the Pass-Through-Entity Tax as a Workaround to State and Local Tax Deduction Limits by Maxwell Jewell, CPA, MST

Posted on August 25, 2025 by Maxwell Jewell

Taxpayers in high-income-tax states breathed a collective sigh of relief with the July 2025 passage of the One Big Beautiful Bill (OBBB), which provides a temporary increase to the cap on the state and local tax (SALT) deduction from $10,000 to $40,000 in 2025 through 2029, subject to income limitations. While the new law preserves […]

International Provision of the New Tax Law Effective for Tax Years Starting in 2026 by Pedro Porras, CPA

Posted on August 19, 2025 by Pedro Porras

The One Big Beautiful Bill Act (OBBBA) modifies several international tax laws introduced in 2017 by the Tax Cuts and Jobs Act (TCJA), including a decrease in deductions and changes to the names of the Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII) regimes. The following provisions are scheduled to take effect for […]

Podcast – BPB Knows the One Big Beautiful Bill

Posted on July 17, 2025

In this episode, Director of Tax Services Mike Greenwald, CPA, shares information about the OBBB and why planning is so important. To attend the July 31 webinar, register here.

Florida Adopts More Flexible Uniform Fiduciary Income and Principal Act for Trusts By Sarah Gaymon, CPA

Posted on June 10, 2025 by Sarah Gaymon

Florida laws relating to the fiduciary administration of trusts, estates and life estates with succeeding beneficiaries became more attractive on Jan. 1, 2025, with the enactment of the Florida Uniform Fiduciary Income and Principal Act (FIPA). The law provides fiduciaries with more flexibility in trust administration and aims to make Florida an even more appealing […]

IRS Reverses Course on Regulations Concerning Partnerships’ Related-Party Basis-Shifting Transactions by Alex Keneiby, CPA

Posted on May 26, 2025 by Alex Keneiby

The IRS has announced its intention to withdraw final regulations issued just three months prior that would have imposed new reporting requirements on partnerships engaged in certain related-party basis-shifting transactions. By rescinding these regulations and the related penalties for noncompliance, the IRS aims to eliminate what it calls “complex” and “costly” compliance burdens on partnerships. […]

Changing Jobs Can Affect Your Taxes by Alik MacLauchlan

Posted on May 13, 2025 by Alik MacLauchlan

Seeking out new career opportunities can have many financial implications, including taxes. When you switch jobs, your income may change along with your eligibility for certain tax deductions and credits that ultimately affect your tax liabilities today and in retirement. During these transitions, you must keep up to date with evolving laws to maintain tax […]

Don’t Fall Victim to the Most Common Tax Scams by Angie Adames, CPA

Posted on April 09, 2025 by Angie Adames

Criminals are constantly developing new and more elaborate ways to deceive taxpayers, steal their identities and cheat them out of their hard-earned financial assets. To help protect yourself from becoming a victim of these crimes, the IRS annually publishes a list of the “Dirty Dozen” most common schemes and scams for which you should be […]

Podcast – BPB Knows Navigating Pass-Through Entity Taxes

Posted on February 20, 2025 by Maxwell Jewell

In this episode Associate Director of Tax Services Max Jewell, CPA, MST, shares workaround strategies for navigating the PTET limits.

Trusts Still Have Time to Reduce 2024 Tax Liabilities by Rick Bazzani, CPA

Posted on February 18, 2025 by Rick Bazzani

Generally, the taxes you owe depend on the decisions you made before year-end on December 31. However, as you prepare to file your 2024 tax returns, certain trusts and estates may have an additional 65 days in 2025 to reduce their tax liabilities and those of their beneficiaries for the prior year. Under the Internal […]

Minimizing Taxes on Art Collections by Sarah Gaymon, CPA

Posted on February 12, 2025 by Sarah Gaymon

It has been said that a picture is worth a thousand words. However, the IRS has the final say when it comes to the valuation and tax treatment of paintings, sculptures and other works of art. Whether you own a few valuable pieces or amassed a significant art collection, you must consider how these assets […]

Category: Estate Planning