Despite merger and acquisition (M&A) activities being lower in 2022, reports suggest that businesses are still successfully sold. If you're considering an M&A with another company, it’s essential that you know the tax implications of your transaction under current law. M&A Transactions: Stocks vs. Assets From a tax perspective, merger and acquisition transaction structures can […]

If your child is off to college this year, have you already set up a basic estate plan for them? If not, you're part of the majority that answers "no" to this question. Fortunately, with summer break already here, you can take this time to sit down with an estate planning attorney to create a […]

You only get part of the big picture if you only look at the numbers. Reading comprehensive footnote disclosures gives valuable insight into your company's operations. These disclosures are located at the bottom of financial statements that have been reviewed and audited. Key details often get overlooked because most individuals just scan these notes instead […]

For some new Social Security recipients, it comes as a shock when they see their benefits taxed by the federal government. Will this be the same for you? Maybe, maybe not.  Whether you have to pay taxes on your benefits depends on your other income. In situations where your income is high, you can expect […]

For small business owners, planning their estates and their companies' succession often overlap. If your venture is family owned and operated, a significant portion of your assets is invested in your business.  Comprehensive estate planning is essential to ensure your organization continues after your passing. Failing to take the proper steps in preparing your company […]

A downturn in the stock market may cause the value of your retirement account to decrease. However, if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Roth vs. traditional IRAs Roth IRAs differ […]

When issuing reporting forms for 2022, businesses may be submitting additional worker information due to recent reporting range changes. At the start of this year, the income threshold for filing Form 1099-K (Payment Card and Third-Party Network Transactions) was significantly decreased, increasing the likelihood that larger numbers of businesses and workers may receive this document, […]

If you are interested in donating assets to a charity you support but don't want to permanently give up this property, consider a charitable lead trust (CLT). This trust functions as an alternative to charitable remainder trusts (CRTs).  CLTs revert your donated assets to your family instead of the charity after a specified amount of […]

If you're a philanthropist that receives traditional IRA distributions, there’s a charitable tax advantage you should know about involving cash donations to a charity approved by the IRS.  What are qualified charitable distributions? The most relied upon method of transferring your IRA assets to your preferred charity is through an age-restricted tax provision. If you're […]