Tag: NYC accountants
With the lifetime gift and estate tax exemption at $11.40 million for 2019 ($11.58 million for 2020), you may think you don’t have to worry about gift and estate taxes.
However, there are no guarantees that estate tax law won’t be … Read More »
Estate Planning Briefs. Comments Off on Have you considered making direct payments of tuition and medical expenses?
With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good idea … Read More »
Tax Planning. Comments Off on Holiday parties and gifts can help show your appreciation and provide tax breaks
As we all know, medical services and prescription drugs are expensive. You may be able to deduct some of your expenses on your tax return but the rules make it difficult for many people to qualify. However, with proper planning, … Read More »
Tax Planning. Comments Off on Medical expenses: What it takes to qualify for a tax deduction
If you have minor children, arguably the most important estate planning decision you need to make is choosing a guardian for them should the unthinkable occur. If you haven’t yet made this decision, formalize your choice as soon as possible.
When … Read More »
Estate Planning Briefs. Comments Off on Parental priorities: How to choose a guardian for your child
Good things come to those who wait. Older taxpayers may be entitled to some age-based tax breaks. Here are the details.
Catch-Up Contributions to Retirement Accounts
Older taxpayers can make extra “catch-up” contributions each year to certain types of tax-favored retirement accounts. For … Read More »
Timely Articles. Comments Off on Tax Strategies for Seniors
For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of … Read More »
Tax Planning. Comments Off on What is your taxpayer filing status?
The Tax Cuts and Jobs Act (TCJA) made only one change to the federal gift and estate tax regime, but it was a big one. It more than doubled the combined gift and estate tax exemption, as well as the … Read More »
Estate Planning Briefs. Comments Off on Flex plan: In an unpredictable estate planning environment, flexibility is key
Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20% of salespeople will make 80% of sales; … Read More »
Business Briefs. Comments Off on 3 key traits of every successful salesperson
You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg.
If you’re not already … Read More »
Tax Planning. Comments Off on Using your 401(k) plan to save this year and next
By temporarily doubling the gift and estate tax exemption, the Tax Cuts and Jobs Act (TCJA) opened a window of opportunity for affluent families to transfer assets tax-free. To take advantage of the higher exemption amount, many families that own … Read More »
Estate Planning Briefs. Comments Off on BDIT lets you give away property without losing control