A do-it-yourself (DIY) estate plan may seem appealing to those who feel confident managing their own affairs and want to save money. With the abundance of online templates and legal software, it’s easier than ever to draft a will, establish powers of attorney or create a trust without professional help. However, there are significant drawbacks […]
Not all “business” expenses are tax deductible
Valuation professionals often use discounted cash flow (DCF) techniques to determine the value of a business or estimate economic losses. A critical input in a DCF model is the cost of capital — the rate that’s used to discount future earnings to today’s dollars. Modest changes in this rate can have a major impact on […]
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Should you own assets jointly with an adult child?
Owning assets with your adult child as “joint tenants with right of survivorship” may seem like a simple way to streamline your estate plan. However, doing so can carry important legal, tax and practical implications that deserve careful consideration. Positives and negatives There are upsides to owning an asset — such as real estate, a […]
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More individuals with disabilities will be eligible for tax-advantaged ABLE accounts in 2026
Did you know there’s a tax-advantaged way to save for the expenses of a person with a disability that’s similar to saving for college expenses with a Section 529 plan? Achieving a Better Life Experience (ABLE) accounts can help fund qualified disability expenses for an eligible beneficiary. The SECURE 2.0 Act, signed into law in […]
The Secret Weapon in Your M&A Arsenal: How Selling Personal Goodwill Can Save You Millions at Closing
Friends, let me tell you about the most underutilized and frankly, most misunderstood tax strategy in a business sale. I’ve been doing this for more than a minute and I still walk into deals where nobody, not the investment banker, not the M&A attorney, not the seller’s existing CPA, has even mentioned the words “personal […]
Puerto Rico Trusts: Protecting Act 60 Tax Advantages While Managing Estate Tax Liability — The Do’s, Don’ts & Pitfalls to Avoid
The Setup: Two Incredible Opportunities That Can Sabotage Each Other Friends, let’s talk about one of the most elegant, and potentially treacherous, intersections in the entire tax planning universe: Puerto Rico residency under Act 60 and trust-based estate planning. Here’s the deal: Puerto Rico’s Act 60 Individual Resident Investor program offers bona fide residents a […]
The M&A Tax Cage Match: Section 338(h)(10) vs. the F Reorganization — Which Deal Structure Wins for YOUR Exit?
Friends, let me set the scene. You’ve built something extraordinary. A $20M, $40M, maybe $75M business or more. Private equity is calling. The LOI is on the table. Champagne is chilling in the fridge. And then, right on cue, your M&A attorney sends over a term sheet with words that make most business owners’ eyes […]
Section 721: The Tax-Deferred Powerhouse Every M&A Player Needs to Understand (And a Few Ways to Blow It Up)
Friends, let me tell you about one of the most elegant and most misunderstood provisions in the entire Internal Revenue Code. I’m talking about Section 721 , the little statute that says: contribute property to a partnership, get a partnership interest back, and pay zero tax. Today. Right now. Nothing. We have handled hundreds of […]
Tax filing FAQs for individuals
The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and processing 2024 tax year returns last year, despite IRS staffing having been significantly reduced since then. Here are answers to some FAQs about filing. When is […]
The 2025 SALT deduction cap increase might save you substantial taxes
If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal income tax liability. However, you need to be aware of income-based limits, and you may need to take steps before year end to maximize your deduction. Higher […]
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