June 1 marks the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and impede business operations. The key to minimizing losses and getting your company back up and running after a storm is to have an actionable plan in place before the National Weather […]
In this episode Director of Tax Services Jeff Mutnik explains when someone needs an estate plan and the potential tax and legacy value in creating a plan, including avoiding probate and trusts you can control before and after death.
Posted on May 18, 2022
The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]
Posted on May 12, 2022
All 50 states and the District of Columbia have laws regulating the disposition of unclaimed property, whose title must transfer to the state after a set period through the legal process of escheatment. Over the past year, however, several states have changed their laws, stepped-up enforcement efforts and initiated litigation to help ensure businesses and […]
Posted on May 10, 2022
Congratulations! You filed your tax return (or requested a filing extension) and paid your tax liabilities by the April deadline. However, there are circumstances for which you may need to amend your return and/or attempt to reduce your tax liabilities for the current year. Following are some tips to keep in mind after filing your […]
Individuals participating in high-deductible health plans (HDHPs) will be able to contribute more of their pre-tax earnings to health savings accounts (HSAs) in 2023 and yield related tax and savings benefits. The IRS recently announced it will increase the annual HSA contribution limits that qualify for a full tax deduction in 2023 to $3,850 (up […]
Posted on May 05, 2022
In this episode Director of Tax Services Karen Lake shares information about SALT, state and local tax credits, work opportunity tax credits and more.
In this episode Director of International Tax Services Art Dichter explains when foreign trusts are useful and how they play into tax planning.
The Biden administration recently released its fiscal budget for 2023, which an accompanying fact sheet claims will help lower costs for American families, expand the productive capacity of the American economy and further reduce the deficit. To raise the revenue required to accomplish these goals, the budget proposes to modify existing business and international tax […]
At the end of 2017, the Tax Cuts and Jobs Act introduced the concept of Qualified Opportunity Zones (QOZs) to help incentivize private investment into revitalizing economically distressed communities throughout the U.S., the District of Columbia and five U.S. territories. In return for their investments into these state designated QOZs, private individuals and businesses can […]