Mobile payment processing apps, such as PayPal, Venmo, Cash App and Square, have made it easy for friends and family to send and receive payments as gifts or reimbursements for shared expenses. These platforms have also spread to the commercial sector, where many businesses accept them as forms of payment for goods and services. It […]
Posted on December 15, 2022
by
Lewis Kevelson
In this episode international tax advisor Lewis Kevelson shares tips and traps for international families with US assets.
Posted on December 12, 2022
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 […]
Posted on December 08, 2022
by
Jack Winter
The IRS recently released its annual cost-of-living adjustments for retirement savers, increasing the annual limits participants can contribute to those plans in 2023. Employer-Sponsored Retirement Plans The maximum amount you may contribute via salary deferral to an employer-sponsored 401(k) or 403(b) retirement savings plan in 2023 is $22,500, up from $20,500 last year. If you […]
Posted on December 06, 2022
by
Rick Bazzani
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, […]
Once again, year-end tax planning is complicated by an uncertain economic landscape. Despite a year of strong job growth and consumer spending, persistent inflation, rising interest rates and market volatility have stoked fears of an impending recession. On the political front, the November mid-term elections have left the country with a divided Congress that will […]
Companies considering a purchase of certain tangible business assets may want to accelerate those acquisitions in 2022 before they lose the full benefit of 100 percent bonus depreciation, which will begin phasing out at the end of the year. Under the Tax Cuts and Jobs Act passed into law in 2018, businesses gained the ability […]
Posted on November 02, 2022
by
Art Lieberman
Taxpayers are often unaware of how the tax code treats property damage and losses they sustain from natural disasters, such as the recent hurricanes across Florida, the Carolinas and Puerto Rico. Many taxpayers are also surprised to learn that when insurance proceeds or other recoveries exceed the tax basis of damaged property, they may incur a taxable […]
Posted on October 24, 2022
by
Angie Adames
Corporate aircraft sales that soared during the pandemic slowed slightly in 2022 as fears of a recession continue to weigh on business sentiment. While many companies will sit on the sidelines and take a wait-and-see approach before purchasing a private jet in 2023, others will act before the end of the year, and yield significant […]
Posted on October 20, 2022
by
Heath Standorf
In this episode Associate Director of Family Office Services Heath Standorf explains how high-net-worth families benefit from family office services.
