Below is an overview of current tax laws compared to the proposed plan put forth by Democratic Presidential Nominee Joe Biden. Overall, Biden’s proposed plan could result in substantially more [...]
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With the new normal of employees working remotely, employers should consider that these workforce strategies may have significant unexpected state tax implications and could create potential tax [...]
So far 2020 has been filled with great uncertainty. However, two things are certain through the end of 2020 – (1) we know the tax rules and the planning implications for individuals, and (2) we [...]
The Irrevocable Spousal Trust is an irrevocable trust that you and/or your spouse create during your lifetime for the ultimate benefit of your children. The trust is structured to be funded using [...]
The CARES Act waives the required minimum distribution rules for IRAs during 2020. The waiver is not applicable to defined benefit plans (i.e. pensions). Example: While employed, Larry [...]
The IRS has issued a formal and expanded release on the April 15, 2020, deadline for 2019 federal income tax returns. July 15, 2020 remains the new due date for all calendar year 2019 returns for [...]
This coronavirus is certainly an ill wind and we are all doing our best to cope. We also remember the saying that, “It is an ill wind that blows no good.” So what is the planning one [...]
The GRAT (Grantor Retained Annuity Trust) It may seem counterintuitive to consider wealth transfer opportunities as financial markets continue to experience volatility with the spread of [...]
The Commonwealth of Pennsylvania Department of Revenue announced that Pennsylvania Personal Income Tax Returns may be filed and paid as late as July 15, 2020 (instead of April 15, 2020). Nothing [...]
April 15 is now July 15. The U.S. Treasury Secretary just announced that the filing date for individuals to file 2019 federal income tax returns has been postponed by ninety days to July 15, [...]
