In this episode Associate Director of Tax Services Sarah Gaymon shares strategies for high-net-worth families to be sure they don’t miss out on sunsetting tax provisions.
According to a recent study by Art Basel and UBS, global art sales in 2022 exceeded pre-pandemic levels, reaching $67.8 billion in transactions. Buyers, ranging from high-end collectors to Gen Xers and Millennials, increasingly recognize art’s value as an alternative investment in a fragile economic and geopolitical environment. However, as buyers grow their collections, they […]
Participants in high-deductible health plans will be able to contribute a significantly higher amount to their health savings accounts (HSAs) in 2024 to cover out-of-pocket medical expenses. The IRS raised the HSA contribution limits for 2024 to $4,150 for individuals and $8,300 for families (up from $3,850 and $7,750, respectively, in 2023.) HSA owners aged […]
In this episode associate director Heath Standorf shares the firm’s approach to leveraging technology for families and family office clients.
The IRS significantly reduced the backlog of tax returns and other taxpayer correspondence it could not process during the pandemic. Consequently, the agency announced it would soon resume mailing collection notices to affected taxpayers. The agency previously suspended these automatically generated notices in early 2022. According to the IRS, the pandemic and related introductions of […]
Upgrading your home’s energy efficiency can not only help the environment and reduce your electric bills, but it can also provide you with valuable tax credits to cover a portion of qualifying improvement expenses beginning in 2023. Energy Efficient Home Improvement Credits Under the Inflation Reduction Act signed into law in 2022, homeowners may earn […]
In this episode, Associate Director of Tax Services Adam Fisher explains passive activity loss rules and how they benefit real estate investors.
The IRS has released the annual cost-of-living adjustments to various provisions of the tax code for 2023, noting that some of the changes are significant due to persistently high inflation. For some taxpayers, these adjustments will result in higher take-home pay, larger credits and deductions, and the ability to protect more assets from the federal […]
According to the National Association of Realtors, sales of second homes spiked dramatically during the first two years of the pandemic due, in part, to historically low interest rates and the ability to work remotely from anywhere in the world. Today, even as home sales have slowed slightly, purchasing a second home for personal enjoyment, […]
In this episode Associate Director of Family Office Services Heath Standorf explains how high-net-worth families benefit from family office services.