Five Things About Gifting That All Donors Need To Know
For many clients, the annual gift exclusion is an important planning opportunity. In 2025, the annual exclusion for tax-exempt gifts to a single beneficiary is $19,000, an increase from $18,000 in 2024. Since these gifts can be made each year, they can accumulate to significant amounts over multiple years without tax consequences for either the […]
The Team of Experts Business Owners Need Before Selling a Business
For many business owners, the sale of their company is the largest financial transaction of their lives, and critical to one’s preservation and creation of wealth. If you’re a business owner contemplating a sale of your firm or transfer to children in the next three to five years, then it’s important to thoughtfully assemble a […]
The Questions Every Estate Plan Needs To Answer
If you already have an estate plan in place, it does not always guarantee it addresses all of your current needs and intentions. Life is fluid. Circumstances change, often unexpectedly, making it important to protect yourself and those you love. This is why we encourage you to review your estate plan at least every five […]
Are You 70 ½ or Older and Charitably Inclined?
If this describes you, and own tax-deferred retirement accounts, then there’s a tax-savings opportunity to explore for conducting your charitable giving. This opportunity is called the Qualified Charitable Distribution or QCD. How a Qualified Charitable Distribution or QCD Works Essentially taxpayers 70 ½ or older are allowed to transfer assets from their IRA accounts directly […]
Grandparent-Owned 529 College Savings Plans: More Powerful Than Ever
There’s good news for students who have financially generous grandparents. Beginning in the 2024-2025 academic year, grandparent-owned 529 college savings plans will no longer be a headache for students seeking federal financial aid. Previously, distributions from such plans negatively impacted the student’s eligibility to receive needs-based financial aid, with the potential to reduce aid by […]
Why Inherited IRAs Deserve Your Attention
Many are surprised to discover that the SECURE Act of 2019 accelerated the tax burden for those who would become IRA beneficiaries in 2020 and beyond. It is also upending estate plans for many retirement account owners who plan on leaving these accounts to non-spouse heirs. The Setting Every Community Up for Retirement Enhancement Act […]