Category: Estate Planning

Estate Planning

Retirement Savers, Retirees Receive Penalty-Free Financial Relief Under CARES Act by Joanie B. Stein, CPA


Posted on March 30, 2020 by Joanie Stein

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) Act calls for the IRS to lift restrictions on certain retirement savings plans and enable taxpayers to access needed funds without incurring early-withdrawal penalties. Plans covered under this relief include 401(k)s, 403(a)s and 403 (b)s, and individual retirement accounts (IRAs). Specific guidance from the IRS on how […]

Now is a Good Time to Accelerate Estate Planning by Jeffrey M. Mutnik, CPA/PFS


Posted on March 16, 2020 by Jeffrey Mutnik

Global equity markets declined dramatically on March 12, as fear and uncertainty surrounding the novel coronavirus (COVID-19) pandemic continued to mount. U.S. stocks took their biggest single-day drop since 1987, bringing the country’s longest economic expansion in history to a screeching halt. Whether the financial damage to investors’ portfolios will continue is unknown. Yet, based […]

Tax-Efficient Planning Strategies for Art Collectors by Lewis Kevelson, CPA


Posted on January 09, 2020 by Lewis Kevelson

Art collectors who accumulate artwork over their lifetimes tend to have limited interest in selling any of the pieces in their collections, according to a recent study conducted by UBS. Instead, most collectors develop an emotional attachment to the artwork they acquire and prefer to display their collections in their homes for their own personal […]

Maximizing Donations to Foreign-Based Charities under Tax Reform UPDATED by Lewis Kevelson, CPA


Posted on October 08, 2019 by Lewis Kevelson

Donations that U.S. taxpayers make directly to foreign charities usually will not qualify for income tax deductions unless those charities are registered with the IRS as tax-exempt entities or there is relief available under a bilateral income tax treaty. In the rare instances when these conditions are met, the charitable deduction is available only to […]