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 […]

Podcast – BPB Knows Navigating Pass-Through Entity Taxes

Posted on February 20, 2025 by Maxwell Jewell

In this episode Associate Director of Tax Services Max Jewell, CPA, MST, shares workaround strategies for navigating the PTET limits.

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 […]

Understanding Trustees’ Fiduciary Accounting Responsibilities by Rick D. Bazzani, CPA

Posted on October 10, 2024 by Rick Bazzani

The people you name to administer your trusts play a pivotal role in protecting your assets. Not only do they have the fiduciary duties to make prudent investment decisions and manage the distribution of trust assets as specified in your trust agreements, but they are also legally responsible for ensuring beneficiaries receive a full accounting […]

Podcast – BPB Knows Getting Started with Estate Planning

Posted on May 16, 2024 by Sarah Gaymon

In this episode Director of Tax Services Sarah Gaymon shares some reasons why everyone needs an estate plan and how to get started.

Understanding Required Minimum Distributions from Retirement Accounts Under New Laws by Rick D. Bazzani, CPA

Posted on April 19, 2024 by Rick Bazzani

There is a broad range of opportunities to save money during your working years so that you may afford a comfortable retirement in the future. Yet, with each type of retirement savings plan comes a unique set of rules and requirements, including procedures for paying taxes on your plan contributions and earnings. In the most […]

Pittsburgh’s Tax on Visiting Athletes, Entertainers May Be on Last Leg by Luke Lucas, CPA

Posted on March 13, 2024 by Luke Lucas

Professional athletes and entertainers, like most taxpayers, must learn to navigate the often-treacherous federal tax code and a broad range of differing tax laws at the state and local level that can increase their tax liabilities and eat into their hard-played earnings. For athletes and entertainers who travel across the country for games and performances, […]

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 […]

Category: Estate Planning