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Financial Tid-Bits

Preparing for the post-TCJA era: corporate tax changes for 2026 and beyond

As the Tax Cuts and Jobs Act (TCJA) approaches its 2026 expiration, businesses face significant corporate tax changes. While the flat 21% corporate tax rate remains, key provisions such as the Qualified Business Income (QBI) deduction, bonus depreciation, and Opportunity Zone incentives are set to expire. Businesses must act swiftly to maximize benefits from expiring deductions, plan significant purchases to leverage higher bonus depreciation rates, and capitalize on Opportunity Zone investments before capital gains deferral benefits end. Additionally, employers should assess the impact of the imminent end of the employer credit for paid leave and consider alternative strategies to support employee well-being. As fringe benefits exclusions are reinstated in 2026 and limits on deductions for business losses are relaxed starting in 2029, businesses must strategize to navigate the changing tax landscape effectively. Consulting with expert advisors for personalized guidance is recommended to ensure optimal tax planning and business strategies.

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Financial Tid-Bits

IRS proposes major changes for donor-advised funds

The IRS proposed significant changes to regulations governing donor-advised funds (DAFs) in late 2023, potentially impacting existing funds. These proposed rules, while not final, could apply retroactively, necessitating proactive understanding and preparation. The regulations redefine eligible funds, donors, and donor-advisors, expanding the definition of DAFs and clarifying the roles of advisors. Implications include potential excise taxes on distributions managed by investment advisors and expanded eligible distributions. Sponsoring organizations should conduct thorough reviews of existing funds and seek guidance from legal and tax professionals to ensure compliance. While awaiting finalization and further guidance, proactive measures are crucial to navigate the evolving landscape of DAF regulations.

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Financial Tid-Bits

Navigating the Gray Areas of Qualified Small Business Stock in Estate Planning

The article discusses the complexities surrounding the tax advantages of qualified small business stock (QSBS) as provided by Sec. 1202, particularly in estate planning. Besides offering a significant tax break for noncorporate taxpayers, it also presents several ambiguities especially concerning holding periods, QSBS stacking, the role of incomplete gift nongrantor trusts (INGs) and charitable remainder trusts (CRTs), the tax status of spouses, and transfers of QSBS. As IRS and legal clarity remains elusive on many related issues, the article recommends a coordinated approach among tax advisors, obtaining legal opinions, and possibly requesting private letter rulings from the IRS to mitigate potential risks.

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Financial Tid-Bits

Essential Estate Planning Strategies for High Net Worth Real Estate Investors

Estate planning for clients with large real estate holdings requires a comprehensive approach that considers both tax implications and property management intricacies. Each aspect requires careful strategizing to mitigate potential tax liabilities, ensure estate liquidity, manage the basis and capital account, maintain compliance with passive loss rules, and keep estate plans updated to reflect current circumstances and tax laws.

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Financial Tid-Bits

Estate planning insights from America’s wealthiest families

Discover how America’s elite manage their vast fortunes to ensure their wealth endures across generations. This article breaks down the successful strategies and common pitfalls in estate planning, using examples from storied dynasties like the Rockefellers and Hearsts. Gain insights into how you can protect your financial legacy and avoid common estate planning mistakes.

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Mastering Accounts Receivable Management
Financial Tid-Bits

Mastering Accounts Receivable Management: Tips for Success

Managing accounts receivable presents challenges, particularly in uncertain economic conditions. To ensure your company’s financial well-being, periodic review of billing and collections processes is essential. Consider these actionable suggestions:   Address billing discrepancies promptly  

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Financial Tid-Bits

What To Know About Restricted Stock Awards

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if

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