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We often refer to the years between retirement and when an individual turns 70 years old as the gap years in retirement. The point from which you stop earning employment income until you turn age…
The estate planning process can be very emotional and is filled with lots of what-ifs and worst-case scenarios. One of the more important decisions in the process, and one that often does not get enough…
With the first tax filing under the Tax Cuts and Job Act right around the corner, there are many changes taxpayers will be seeing in action for the first time. One thing you might not…
One of the major changes in the 2017 Tax Cuts and Jobs Act was an increase in the estate and gift exemption, which is the amount that one can gift during their life or at…
Every so often we will see a family who has land that has been in the family for generations and has great sentimental value as a result. The problem often faced by the current generation…
The Tax Cuts and Job Act (TCJA) passed in late 2017 was the most significant tax legislation we have seen since 1986 and the impact of tax reform on the nonprofit community is expected to…
The Tax Cut and Jobs Act included a substantial increase in the Standard Deduction that each taxpayer is able to take. For individuals it moved from $6,350 in 2017 to $12,000. For married filing joint taxpayers,…
In December 2017 one of the biggest tax overhauls of the past three decades passed into law. Many will benefit from lower tax rates while others will face tax increases by the substantial loss of deductions. …
The recent tax law changes were the most disruptive changes to the tax code in more than 30 years. The most impactful changes to personal income tax were the elimination and limitation of most major…
When establishing a significant charitable account, our clients will often weigh the advantages and disadvantages of opening a Donor Advised Fund (DAF) versus establishing a Private Foundation. While both vehicles provide a way for individuals…
