Tag: NYC CPA
If you reside in a high-tax state, you may want to consider using nongrantor trusts to soften the blow of the $10,000 federal limit on state and local tax (SALT) deductions. The limit can significantly reduce itemized deductions if your … Read More »
Estate Planning Briefs. Comments Off on Use nongrantor trusts to bypass the SALT deduction limit
With the empty bottles of bubbly placed safely in the recycling bin and the confetti swept off the floor, it’s time to get back to the grind. The beginning of the year can be a busy time for business owners … Read More »
Business Briefs. Comments Off on How business owners and execs can stay connected with staff
If you save for retirement with an IRA or another plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, … Read More »
Tax Planning. Comments Off on 4 new law changes that may affect your retirement plan
Stretch your marketing dollars further with smart strategies
If your marketing budget is limited, there may be ways to make that money go further. Smart strategies abound for small to midsize businesses. Let’s look at a few ideas for stretching your … Read More »
Uncategorized. Comments Off on Stretch your marketing dollars further with smart strategies
Adopting a child? Bring home tax savings with your bundle of joy
If you’re adopting a child, or you adopted one this year, there may be significant tax benefits available to offset the expenses. For 2019, adoptive parents may be able … Read More »
Tax Department. Comments Off on Adopting a child? Bring home tax savings with your bundle of joy
Life insurance can be a powerful financial and estate planning tool, but its benefits can be reduced or even eliminated if you designate the wrong beneficiary or fail to change beneficiaries when your circumstances change.
Common pitfalls to avoid include:
Naming your … Read More »
Estate Planning Briefs. Comments Off on 3 pitfalls to avoid when naming a beneficiary of a life insurance policy
Does your son or daughter work during the summer or school year? A part-time job can be a great way for your child to learn about financial responsibility. It can also teach a valuable lesson about owing taxes. In addition to … Read More »
Timely Articles. Comments Off on Common Questions about Kids and Taxes
Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: Your lender.
If you want to maintain a clear … Read More »
Business Briefs. Comments Off on What lenders look for in a succession plan
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