As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or
Joan Ellenbogen
Sep 10, 2021
Planning for year-end gifts with the gift tax annual exclusion
- By Joan Ellenbogen
- Estate, Gifts, Taxes, Uncategorized
- 0 Comments
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Aug 5, 2021
5 possible tax aspects of a parent moving into a nursing home
- By Joan Ellenbogen
- Deductions, Estate, Financial Planning, Medical, Retirement
- 0 Comments
If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. 1. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical
Aug 3, 2021
Tackling volunteer liability issues
- By Joan Ellenbogen
- Non-Profit
- 0 Comments
If your not-for-profit operated without volunteers during the pandemic, it’s probably a great relief to welcome them back. However, volunteers can represent risk to your organization. For example, you could be hit with lawsuits if volunteers are harmed or harm others while working for you. To protect your nonprofit, background screen new volunteers, provide thorough
Jul 27, 2021
10 facts about the pass-through deduction for qualified business income
- By Joan Ellenbogen
- Business
- 0 Comments
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed
Jul 14, 2021
2021 Q3 tax calendar: Key deadlines for businesses and other employers
- By Joan Ellenbogen
- Business
- 0 Comments
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Monday,
Jul 7, 2021
Collective impact projects find strength in numbers
- By Joan Ellenbogen
- Non-Profit
- 0 Comments
As not-for-profits increasingly take on big issues, some are turning to “collective impact.” This cross-sector approach involves nonprofits, government, businesses and communities working together to solve a specific problem. Collective impact adherents often cite several requirements for success: a common vision, a shared measurement system, mutually reinforcing activities, continuous communication and a separate support organization.
Jul 1, 2021
Members of the sandwich generation find themselves in a unique situation
- By Joan Ellenbogen
- Estate
- 0 Comments
The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. As a result, estate planning — which traditionally focuses on providing for one’s children — has expanded in many cases to include one’s aging parents as well.
Jun 29, 2021
The risks — and rewards — of accepting cryptocurrency payments
- By Joan Ellenbogen
- Fraud
- 0 Comments
To use their ill-gotten cash, criminals must make it appear legitimate. That’s the job performed by money launderers, who increasingly use cryptocurrencies. According to digital currency analytics company Elliptic, crooks use them to launder $3 to $4 billion per year. With over 4,000 digital currencies to choose from, they gain access to a liquid asset
Jun 23, 2021
Hiring your minor children this summer? Reap tax and nontax benefits
- By Joan Ellenbogen
- Business
- 0 Comments
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money. And you may be able to: Shift your high-taxed income into tax-free or low-taxed income,