January 06, 2023
Multigenerational Wealth Planning in a Down Market: Opportunity Awaits for Those Who Have Yet to Make a GST Allocation
A depressed market like in 2022 and possibly 2023 represents an opportunity to make late allocations of generation-skipping transfer (GST) tax exemption to prior years’ gifts. This opportunity arises when an asset’s
January 06, 2023
A Softer Landing – Maximizing Bonus Depreciation by Leveraging Extended Placed-in-Service Dates for Certain Aircraft
Buckle your seat belt and lift your tray table, the 2022 tax year was the last time 100% bonus depreciation was generally available for the purchase of a private aircraft. However, with a phase-down in
January 06, 2023
A Game Plan for Reaping the Full Tax Benefits for Gifts and Charitable Donations in 2023
Perhaps the year 2022 will be remembered as the beginning of the transition to relative normalcy following the dramatic lifestyle changes resulting from the COVID-19 pandemic in 2020 and 2021. For instance, in 2022, staycations were replaced
January 06, 2023
Weathering the Storm of Increased IRS Scrutiny on Transfer Pricing
The U.S. Inflation Reduction Act (IRA) allocates nearly $80 billion in new funding to the Internal Revenue Service (IRS). More than $45 billion of that amount is dedicated to compliance enforcement efforts with additional
January 06, 2023
Silver Linings in Market Turmoil
The economic landscape in 2022 was driven by the Federal Reserve’s steadfast commitment to combating high inflation with fast-paced monetary tightening. The Fed’s efforts have resulted in a challenging
October 19, 2022
Navigating the New Required Minimum Distribution Rules for IRAs Inherited After 2019
The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), signed into law on December 20, 2019, set forth new rules with respect to required minimum distributions (RMDs) from tax-qualified retirement plans, including
October 19, 2022
Sponsoring Employees for Green Cards? Beware of Tax Traps
Many companies offer the option of sponsoring U.S. green cards for their employee(s) who may otherwise qualify to work in the U.S. under a nonimmigrant visa.
October 19, 2022
Foreign Tax Credits for Individuals: Common Oversights Can Result in Missed Opportunities
For individuals with international tax obligations, identifying and capitalizing on every foreign tax credit opportunity can be hugely complex. Key opportunities must be captured on the return without inadvertent oversights that can
October 19, 2022
How The Accelerating Charitable Efforts Act May Impact Charitable Giving
Two private charitable endowments frequently used by high-net-worth taxpayers are Donor Advised Funds (DAFs) and private charitable foundations. Due to their popularity in recent years and potential for abuse, both have become areas
October 19, 2022
Sales Tax Considerations Impacting the Pop-Up Art Markets Across the United States
In the aftermath of the COVID-19 pandemic when many art galleries were closed and art fairs and shows were canceled indefinitely, the latter are seeing a comeback across the United States and particularly