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Year-End Tax Planning for Businesses

With the looming Fiscal Cliff of 2025 and uncertainty as to whether or not provisions of the TCJA will be extended, businesses should maximize year-end tax savings strategies. There are many ways a business can...

Year-End Tax Planning for Individuals

MINIMIZING INDIVIDUAL TAXESIncome taxes The key to any year-end planning strategy is to minimize taxes. This is generally done by either reducing the amount of income received or increasing the amount of deductions....

U.S. Tariffs and The Impact on the Manufacturing Industry

During 2018 and 2019 the Trump administration put in place tariffs on approximately $380 billion of foreign products creating one of the largest tax increases of roughly $80 billion on Americans. The Biden...

Everyone Needs a Basic Estate Plan

Regardless of your financial situation, everyone should have a basic estate plan in place. Why? Because there are two things that are unavoidable - death and taxes! Estate planning encompasses a range of legal and...

The Moore Court Case: A Plain Explanation of the Supreme Court Ruling Against Taxpayers in IRC Section 965 Case

This past Thursday June 20, 2024, the Supreme Court of the United States issued a 7-2 opinion in Moore v. United States, 602 U.S. __ (2024), ruling in favor of the Internal Revenue Service (IRS)...

Real Estate Tax Incentives

The Inflation Reduction Act of 2022 (IRA) has created new energy incentives for the real estate industry aiming to reduce carbon emissions by 40%. Incentives are available for the commercial and residential sectors...

Navigating the Sunset: Estate and Gift Tax Exemption and Strategic Gifting

The way we approach estate planning is changing because of the sunset of the lifetime exclusion for the estate and gift tax exemption. Understanding this sunset and implementing strategic gifting techniques can be...

New Guidelines for Independent Contractor vs. Employee

The U.S. Department of Labor ("DOL") has a new six-factor test for determining whether workers are "independent contractors" or employees. Each factor has equal value in making the determination if the worker is...

Tax Incentives for Manufacturers to Go Green

There are many credits available to manufacturers that can help minimize the tax bite. One such area that manufacturers should explore are credits that stem from "going green." These credits can be of great value,...

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