Category: Estate Planning

Estate Planning

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 […]

Properly Titling Trustees’ Signatures Can Protect Their Assets by Jeffrey M. Mutnik, CPA/PFS


Posted on September 24, 2021 by Jeffrey Mutnik

When individuals sign legal documents, including personal checks, contracts, tax returns, etc., they generally are not required to add any language explaining who they are. Their names alone satisfy the legal requirements for validating those documents.   However, when those people are also officers of corporations or managers of partnerships or LLCs, they usually include their […]

An Alternative Tax-Deferral Strategy for Passive Commercial Real Estate Investors by Arkadiy (Eric) Green, CPA


Posted on September 14, 2021 by Arkadiy (Eric) Green

Tax-Deferral Strategies for Commercial Real Estate Investors Commercial real property investors have long relied on Section 1031 of the Internal Revenue Code to defer capital gains tax on the sale of appreciated property when they reinvest sales proceeds into similar like-kind property. However, with the Biden administration’s proposal to restrict the tax-deferral benefits of 1031 […]

Mega Backdoor Roths Can Help 401(k) Participants Supersize Retirement Savings by Jeffrey M. Mutnik, CPA/PFS


Posted on August 13, 2021 by Jeffrey Mutnik

Employer-sponsored 401(k) plans are excellent vehicles for individuals to save for retirement during their prime earning years. Annual contributions made today with pretax dollars grow tax-deferred until you reach retirement age, when the distributions you take are treated as taxable ordinary income. However, even if you are diligent and contribute the maximum allowable amount to […]

Planning Around 10-Year Withdrawal Requirements from Inherited IRAs by Jeffrey M. Mutnik, CPA/PFS


Posted on June 15, 2021 by Jeffrey Mutnik

The 2019 Setting Every Community Up for Retirement Enhancement Act (SECURE Act) killed off a popular estate-planning strategy that had allowed IRA owners to pass retirement savings tax-free to their heirs and provide beneficiaries with tax-deferred growth and distribution payments over their lifetimes. Under the new law, however, non-spouse IRA beneficiaries must withdraw the entirety […]

How Does the SECURE Act Affect Your Retirement Savings Plan? by Adam Cohen, CPA


Posted on May 11, 2021 by Adam Cohen

The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was signed into law at the end of 2019 to help more Americans prepare and plan for greater financial security during their retirement years. As the average life span increases, people need more money to maintain their standards of living in retirement. However, not […]