Title For Page Img If Static

What's New

July 2019

Do You Need an Estate Plan?

Anyone who owns property -- a home, a car, a bank account, investments, business interests, a retirement plan account, collectibles, personal belongings, etc. -- needs an estate plan...

ESTATE PLANNING PORTABILITY LIVES ON UNDER THE TCJA

Portability allows a taxpayer’s estate to elect to permit his or her surviving spouse to use any available estate tax exclusion amount that’s unused at the taxpayer’s death. Fortunately, this functionality was preserved under the 2017 Tax Cuts and Jobs Act (TCJA). This article provides a brief history of the exclusion and explains how portability works in practice.

BE READY FOR ANYTHING WITH REGULAR BUSINESS VALUATIONS

Whether it’s an impending ownership transfer or just a need to learn more about one’s company, every business owner needs to establish reasonable expectations of what a valuation provides. This article answers several insightful questions about the process and goes on to dig deeper into this important management tool.

COULD AN FLP HELP YOUR BUSINESS SUCCESSION PLAN?

Often, the best time taxwise to start transferring ownership is long before the owner is ready to give up control of the business. This article explains how a family limited partnership can help owners enjoy the tax benefits of gradually transferring ownership yet allow them to retain control of the business.

TAX CALENDAR

This calendar notes important tax deadlines for the second and third quarters of 2019.

NO SURPRISES: WHY YOU SHOULD CHECK YOUR TAX BRACKET

Many taxpayers learned some tough lessons upon completing their 2018 tax returns regarding the changes brought forth by the Tax Cuts and Jobs Act (TCJA). This brief article reviews the revisions to the tax brackets so readers can avoid unpleasant surprises next April.