If you have significant wealth, you may be exposed to future estate tax burdens that must be acted on before the Tax Cuts and Jobs Act reduces the estate tax exemption in 2026. Developing and implementing the right estate planning and tax strategies takes time. You may need to prepare regardless of whether the estate [...]
The Countdown Begins: Will We Keep the $10 Million Exemption? The year 2026 is quickly approaching, bringing substantial changes that may affect your estate tax situation. The Tax Cuts and Jobs Act (TCJA) in 2017 significantly increased the federal estate tax exemption to $10 million adjusted for inflation. This is the amount you can [...]
CTA Imposes New Small Business Reporting Requirements for 2024 The Corporate Transparency Act (CTA) takes effect January 1, 2024. The CTA requires all businesses formed in the United States (and foreign businesses operating in the United State) to report information about the company's owners to the federal government, specifically the US Treasury Department's Financial [...]
How Do You Want to Live On After Death? In the words of physicist and My Big TOE author, Thomas Campbell, ‘To live in the hearts we leave behind is not to die.' When we lose someone dear, memories of special moments, the support they offered, and their unique qualities linger in our hearts. [...]
On December 29, 2022, President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act). The previous SECURE Act in 2020 made several changes to retirement planning: It increased the required beginning date (RBD) for required minimum distributions (RMDs) from your individual retirement accounts from 70 ½ to 72 years [...]