Ideas & Insight

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. But now, because many estates won’t be subject to estate tax, more planning can be […]

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, liability and estate planning advantages of separating real estate ownership from the business. Tax […]

In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early June,” said NAR Chief Economist Lawrence Yun. However, he added that […]

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce the best results for most businesses, as will bunching deductible expenses […]

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT This tax applies, in addition to income tax, on your net investment income. The NIIT […]

The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research.

If you’re interested in purchasing energy-saving property for your home or an electric vehicle, you may qualify for a tax break under the new Inflation Reduction Act. Here are the basic rules.

Many businesses have a general idea of how strong their brands are, but they’re a little light on specifics. Conducting a brand audit can reveal key insights.

If you run a one-person small business, you might be able to build a bigger retirement nest egg with a solo 401(k) plan. Here are the basic rules.

Many people started working from home during the pandemic and have continued working out of home offices. Some of them qualify for home office deductions, but unfortunately, not all of them do. Here are the rules.