The COVID-19 pandemic has disrupted life as we know it, threatening our physical and financial well-being, potentially for years to come. Just as social distancing and other safer-at-home measures have been implemented to help you protect your health, there are some estate planning strategies you should consider at this time to help you protect your […]
The CARES Act lifts restrictions on 401(k) plans, IRAs and certain other retirement savings plans to provide plan participants with immediate financial assistance and make it easier for employers to adopt these critical relief provision. It is important for plan sponsors to weigh the benefits of these relief measures and recognize the specific administrative rules they […]
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 season has begun and, for the most part, your 2019 tax liabilities are already set in stone based on the income you earned and the actions you took before Jan. 1, 2020. However, depending on your unique circumstances, there are a few ways that you can still lower your tax bill for 2019 before […]
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 […]
The IRS issued final regulations confirming that taxpayers who take advantage of the increased gift and estate tax exemptions in effect temporarily under the new tax law until 2026 will not be subject to tax in later years when the generous provision is set to expire. The announcement allays fears that tax-free gifts made today […]
Naming a trustee to manage your assets and ensure your heirs are provided for in the same manner as you would have if you were alive is one of the most important decisions you will make when creating your estate plan. Unfortunately, it is also the one decision that fails to receive the attention and […]
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 […]
After 29 years, the U.S. government is making changes to its EB-5 visa program, which helps foreign citizens expedite U.S. residency in return for capital investment in commercial projects that create or preserve domestic jobs. Under new rules that go into effect on Nov. 21, 2019, it will become more expensive and more difficult for […]
Financial crimes against the elderly more than quadrupled between 2013 and 2017, according to the Consumer Financial Protection Bureau (CFPB). While anyone can fall prey to these scams, the elderly are typically more at risk. They may be challenged with the Internet of things and using new technology safely, or they may be unfamiliar with […]