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Keeping Wealth in the Family: How Family Banks Work 266 266 Noelle Merwin

Keeping Wealth in the Family: How Family Banks Work

For families with significant wealth, lending money to children, grandchildren or other relatives can be an effective way to provide financial assistance while preserving family assets. But informal arrangements can create complications. Without clear expectations, loans between relatives may lead to misunderstandings, strained relationships and unintended tax consequences. One way to avoid these problems is…

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Smolin Fall 2026 Newsletter 792 767 Noelle Merwin

Smolin Fall 2026 Newsletter

  View the Fall 2026 Newsletter for tax and industry insights.

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Hit the Jackpot? Don’t Forget About the Tax Bill 266 266 Noelle Merwin

Hit the Jackpot? Don’t Forget About the Tax Bill

It’s easy to focus on the excitement of a big win. But federal tax law generally treats lottery prizes, gambling winnings and other awards as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. Lottery prizes Of course, the chances of winning big in the…

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Could Your Business Be Ready for an IRS Audit? 266 266 Noelle Merwin

Could Your Business Be Ready for an IRS Audit?

IRS audit rates remain relatively low, but that’s little consolation if the IRS selects your return for an examination. Although most taxpayers will never face an audit, business owners often have more complex tax situations that can attract IRS attention. The good news is that with proper preparation, detailed records and professional guidance, you can…

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Passing Down Wealth? Don’t Forget the GST Tax 266 266 Noelle Merwin

Passing Down Wealth? Don’t Forget the GST Tax

If your estate plan includes gifts, bequests or other transfers to grandchildren, great-grandchildren or other beneficiaries decades younger than you, the generation-skipping transfer (GST) tax deserves careful attention. Without proper planning, transfers that skip a generation can potentially trigger a significant federal tax in addition to gift or estate taxes. GST tax rules at a…

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Damages Unmasked: Calculating Lost Profits and Economic Harm in Commercial Litigation 266 266 Noelle Merwin

Damages Unmasked: Calculating Lost Profits and Economic Harm in Commercial Litigation

Welcome back to Follow the Money. Over the past few months, we have walked through hidden transactions, inflated balance sheets, shareholder value suppression, and embezzlement schemes. This time, we are focusing on a topic that often sits at the center of commercial disputes—and usually generates the most debate between experts: calculating economic damages, especially lost…

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4 Cash Flow Tips for Seasonal Businesses 266 266 Noelle Merwin

4 Cash Flow Tips for Seasonal Businesses

Most businesses experience cash-flow fluctuations, but the swings can be especially intense for seasonal businesses. Revenue may rise sharply during busy periods and fall in slower seasons, yet many expenses continue year-round — and some must be paid months before sales peak. This timing mismatch can leave an otherwise profitable business short on cash. Here…

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Tax Planning Strategies Every Real Estate Investor Should Know 266 266 Noelle Merwin

Tax Planning Strategies Every Real Estate Investor Should Know

Many individuals invest in real estate to help diversify their portfolio, create an income stream for themselves from rental income and build net worth over time. Often, this is a side activity to a career in another field or running another type of business — not the individual’s primary source of income. Holdings might range…

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Teachers, take note! New Tax Deductions for Teachers in 2026 266 266 Noelle Merwin

Teachers, take note! New Tax Deductions for Teachers in 2026

Teachers and other educators often spend their own money on books, supplies, equipment and other classroom needs. For 2026, eligible educators may have two ways to deduct qualifying unreimbursed expenses. One deduction is available whether or not they itemize, and a new deduction under the One Big Beautiful Bill Act (OBBBA) is available to itemizers.…

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Will Your Disability Benefits Be Taxable? Understanding the Rules 266 266 Noelle Merwin

Will Your Disability Benefits Be Taxable? Understanding the Rules

Disability insurance is a valuable benefit provided by many employers. It replaces a portion of the insured person’s income — typically 45% to 65% of pre-disability earnings — after a specified waiting period that starts when the person becomes disabled (as defined by the policy’s terms). Whether you’re just beginning to receive disability benefits or you’re…

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Fraud in the Shadows: Uncovering Embezzlement and Asset Misappropriation in Business Disputes 266 266 Noelle Merwin

Fraud in the Shadows: Uncovering Embezzlement and Asset Misappropriation in Business Disputes

Welcome back to Follow the Money. Over the past few months, we’ve gone over hidden transactions, overstated assets, and how value gets quietly shifted in shareholder and partnership disputes. This time, we’re focusing on a type of fraud that shows up far more often than people realize, usually at the hands of someone who was…

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Running a Business Solo? Here’s What You Need to Know About Taxes 266 266 Noelle Merwin

Running a Business Solo? Here’s What You Need to Know About Taxes

Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct access to profits without having to take formal distributions. But it also makes your taxes more complicated than when you were a W-2 employee. Here are some federal tax issues…

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