Proposed tax law changes pose major impact on estate planning

Oct 25, 2021

By Charles R. Kennedy, CPA, MBA Vice President & Director of Tax Services Tax proposals put forth during presidential campaigns often are watered down significantly by the time they get to the legislative stage, and those favored by President Joe Biden are no...

Hold the SALT, please

Oct 25, 2021

James J. DeLuca, CPA, MST Senior Tax Manager Owners of pass-through entity businesses will get some state-level tax relief for 2021 that is aimed at neutralizing one of the most unpopular features of the federal Tax Cuts and Jobs Act (TCJA) of 2017. The TCJA placed a...

Giving cash gifts for the holidays? Remember to factor in the gift tax annual exclusion

Sep 20, 2021

It may barely be fall, but the holidays are just around the corner and many people may be thinking about giving gifts of cash or stock to their loved ones this year. If you expect to give cash gifts, be aware that by using the annual federal gift tax exclusion you can reduce the size of your taxable estate. The exclusion amount for 2021 is $15,000.

Employee Retention Tax Credit Update

Jun 30, 2021

By Giuseppe “Joe” Femia, CPA Vice President & Director Employers who plan to take advantage of the Employee Retention Tax Credit (ERTC) to defray certain costs of keeping employees on the payroll during the Covid-19 pandemic should act quickly, since an important...