The Tax Cuts and Jobs Act increased the standard deduction to $12,000 per person and $24,000 per couple (for 2018 and inflation-adjusted thereafter). This was great news for those who don’t itemize their deductions. However, for those itemizing deductions, there was some bad news in the new law, too. The law included a cap of […]

The new year is officially upon us. This means that it’s time for companies to reflect on the goals that were set early on in the year and determine whether these goals have helped drive operational excellence by engaging and encouraging the efforts of individual employees. When we think about performance-driven companies, these are a […]

The ball has dropped in Times Square and we’ve bid farewell to 2018. But there are still a few things we can do to adjust our tax liability for 2018 before filing tax returns on April 15. First, you’ll need to organize all your tax records. That way, you’ll have some idea of what your […]

There are a few changes for 2019. Going into 2018, there were many changes because of a new tax law, commonly known as the Tax Cuts and Jobs Act, which impacted both the estate tax and the income tax. But, there are few changes heading into 2019. It appears things are relatively stable, taxwise, at […]

“The courage to be vulnerable is not about winning or losing, it’s about the courage to show up when you can’t predict or control the outcome.” – Brené Brown I was recently talking to a friend about some of her challenges at work. She sells high-end scientific equipment and just completed a record year of […]

A Secret Agent may be very important to protecting the nation. Your Agent is just as important for your protection. An Agent is the person who makes financial decisions for you under a Financial Power of Attorney or makes medical decisions for you under a Health Care Power of Attorney. The Agent under your Financial […]

As 2018 comes to an end, it’s easy to feel overwhelmed and experience extra levels of stress. Not only do you need to close out items at the office, but you’re likely bustling from one holiday party to the next and you may have more obligations on your social calendar than other months. Knowing this […]

A prior blog discussed the taxation of trusts generally and that they could be taxed as either grantor trusts or nongrantor trusts. This blog will focus on the advantages and disadvantages of taxation as a nongrantor trust. Unlike a grantor trust, which is taxed to the grantor, a nongrantor trust is taxed as its own […]

The Holidays are officially upon us! With all the additional food and fun, comes increased time spent around friends, family and people in general. Although we look forward to sharing quality moments with those we care about, some interactions may at times be a bit overwhelming. Whether it’s the mother-in-law who is less than subtle […]

A prior blog discussed the taxation of trusts generally and that they could be taxed as grantor trusts or nongrantor trusts. This blog will focus on the advantages and disadvantages of taxation as a grantor trust. A grantor trust is one that is taxed to the grantor (or other substantial owner) pursuant to the rules […]