When Gifting To Save Estate Taxes, It Is Essential To Consider Loss Of Step-Up In Basis When the House Ways and Means Committee proposed reducing the estate and gift tax exemption from $11,700,000 to approximately $6,000,000 (as adjusted for inflation) effective...
Tax-Loss Harvesting – Don’t Miss the Opportunity This time of year many people start thinking about year-end tax planning. An integral part of tax planning involves the potential for tax-loss harvesting in your taxable portfolio. What we are going to discuss below can...
Funding, applications, more funding, reporting, more applications and perhaps more funding! The evolution of information is constant. There is hardly time to blink because you might miss something important. Currently, many who received in aggregate greater than...
New York State Pass-Through Entity Tax (PTET) New York State has enacted a workaround for the $10,000 state and local tax deduction limitation for the year tax year 2021. The workaround is only eligible for Partners in Partnerships, not publicly traded, and...
The child and dependent care tax credit is a credit allowed for expenses that a taxpayer incurs for the care of a child under age 13 or a dependent relative that enable the taxpayer to work or look for work. The American Rescue Plan Act (ARPA) enacted March 11, 2021...
A scenario for you: You’re a young millennial who spends his or her mornings perusing your most trusted source of internet news (I, of course, am referring to Reddit) in November of 2020. A hot tip involving a potential short-squeeze opportunity to profit off of an...
