Category: Estate Planning

Estate Planning

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 […]

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 […]

Employers Face New Rules for Retirement Savings Plans in 2025 by Melissa Fleitas, CPA


Posted on January 21, 2025 by Melissa Fleitas

The passage of the SECURE Act 2.0 in 2022 introduced sweeping changes to help enhance taxpayers’ retirement savings opportunities and improve the costs and managerial headaches employers face administering employee benefits plans, including 401(k)s, 403(b) and 457(b) plans. Since that time, employers of all sizes have gained expanded tax credits for establishing employee retirement savings […]

Nonprofits, Private Foundations Face a Looming Tax-Filing Deadline by Adam Cohen, CPA


Posted on March 05, 2024 by Adam Cohen

The clock is ticking for nonprofit entities, including private foundations, to file annual returns on Form 990 before the May 15 deadline for calendar-year filers. Failure to file or request an automatic six-month extension can jeopardize an organization’s tax-exempt status and result in significant penalties. IRS series Forms 990 are informational documents that most non-profits […]