Category: Estate Planning

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 […]

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 […]