Category: Estate Planning

Estate Planning

Social Security Announces Minimal Cost of Living Adjustment for 2021 by Jeffrey M. Mutnik, CPA/PFS


Posted on November 03, 2020 by Jeffrey Mutnik

Recipients of Social Security benefits, including Supplemental Security Income (SSI), will receive a modest 1.3 percent cost-of-living adjustment in 2021, down from 1.4 percent in 2020, according to a recent announcement from the Social Security Administration. This meager bump during the financial challenges brought about by the COVID-19 pandemic will bring just a few extra […]

IRS Grants Certain Deductions for Estates and Non-Grantor Trusts, Including Excess Deductions on Termination by Jeffrey M. Mutnik, CPA/PFS


Posted on October 13, 2020 by Jeffrey Mutnik

The Internal Revenue Service (IRS) recently issued final regulations that allow decedents’ estates and non-grantor trusts to claim certain deductions that would otherwise have been disallowed under the 2017 overhaul of the tax code. The Tax Cuts and Jobs Act (TCJA) barred individuals, estates and non-grantor trusts from claiming miscellaneous itemized deductions for any taxable […]

Individuals, Businesses Receive More Incentives to Make Charitable Donations in 2020 by Jack Winter, CPA


Posted on June 02, 2020 by Jack Winter

The financial impact of the COVID-19 health crisis will leave a lasting impression on individuals and businesses throughout the world. For nonprofit organizations that rely on public donations to fund research and services for those in need, the pandemic can be devastating. In response, the CARES Act offers U.S. individuals and businesses greater incentives to […]