Estate Planning

Podcast – BPB Knows Estate Planning

Posted on May 19, 2022 by Jeffrey Mutnik

In this episode Director of Tax Services Jeff Mutnik explains when someone needs an estate plan and the potential tax and legacy value in creating a plan, including avoiding probate and trusts you can control before and after death.

Owning and Selling C Corporations vs. S Corporations by David E. Kolan, CPA

Posted on May 18, 2022 by David Kolan

The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]

Podcast – BPB Knows Foreign Trusts

Posted on April 21, 2022 by Arthur Dichter

In this episode Director of International Tax Services Art Dichter explains when foreign trusts are useful and how they play into tax planning.

Podcast – BPB Knows Business Valuations

Posted on April 07, 2022 by Scott Bouchner

In this episode Director of Forensic and Advisory Services Scott Bouchner explains business valuations, when they are useful and how to get started.

Trusts Are Running Out of Time to Reduce 2021 Tax Liabilities by Rick Bazzani, CPA

Posted on February 28, 2022 by Rick Bazzani

Under the IRS’s 65-day rule, estates and certain complex trusts still have some time to reduce their income-tax liabilities for 2021, but immediate action is required. Calendar year-end trusts have until Sunday, March 6, to distribute trust income to beneficiaries and treat those payments as if they occurred in 2021. Doing so not only reduces […]

It is NOT Defective if it is Intentionally a Grantor Trust by Jeffrey M. Mutnik, CPA/PFS

Posted on February 23, 2022 by Jeffrey Mutnik

When establishing a trust, grantors must take special care to ensure trust documents clearly communicate how they intend the trust and its assets be treated for income-tax purposes. While there are a variety of different types of trusts with assorted names and features to meet an equally broad range of needs and goals, one of […]

It’s Not Too Early to Start Planning for January 2022 Gifts by Jeffrey M. Mutnik, CPA/PFS

Posted on December 16, 2021 by Jeffrey Mutnik

The IRS recently released the inflation-adjusted estate and gift exemptions for 2022, which provide families with enhanced opportunities to transfer significantly more assets to younger generations tax-free. However, families must consider these adjustments within the context of potential tax reform in the year ahead. For tax year 2022, the lifetime estate-tax exemption jumps $360,000 to […]

IRS Announces Retirement Plan Contribution Limits for 2022 by Tomoko Shoji, CPA/PFS, CFP

Posted on December 08, 2021 by Tomoko Shoji

The IRS recently released its cost-of-living adjustments for retirement savers in 2022, increasing the annual contribution limits for those with 401(k), 403(b), most 457 plans and SIMPLE IRAs, while also raising the income range for individuals to qualify for deductible contributions to traditional IRAs. Employer-Sponsored Plans The maximum salary deferral for 2022 contributions to employer-sponsored […]

Tax Reform Spurs Immediate Need for Business Valuations by Daniel S. Hughes, CPA/CFF, CGMA, CVA

Posted on October 14, 2021 by Daniel Hughes

Business owners already struggling with the continued uncertainty surrounding the pandemic are also facing the prospect of higher taxes and a resulting negative impact on company cash flow, profitability and valuations. For some, this environment will accelerate business sales or mergers and require significant alterations to existing estate plans – all of which will require […]

Will Grantor Trusts Become Extinct? by Jeffrey M. Mutnik, CPA/PFS

Posted on October 14, 2021 by Jeffrey Mutnik

If and when Congress passes a law reforming the tax code, there is a general expectation that taxes will increase, and some commonly used estate planning strategies will be added to the endangered species list. Among the tools being targeted are irrevocable grantor trusts, which have long enabled grantors to remove appreciating assets from their […]

Category: Estate Planning