Newburg | CPA News Brief October 18, 2022 Here’s a not-so-fun fact: The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code. So, if you’re planning to share some of your wealth with your grandchildren or great grandchildren — or if your estate [...]
Newburg | CPA News Brief October 11, 2022 Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on the road today, they’re increasing in popularity all the time. If [...]
Newburg | CPA News Brief October 4, 2022 If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income is paid directly to you by your employer, it’s taxable to [...]
Newburg | CPA News Brief September 27, 2022 The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to [...]
Newburg | CPA Special News Brief September 23, 2022 It has been 36 years since Chapter 62F was enacted by voters, and 35 years since the law was last triggered. Here is what you need to know. What is Chapter 62F you ask? Chapter 62F is a Massachusetts [...]
Newburg | CPA News Brief September 20, 2022 “Thanks, but no thanks.” If you expect to receive an inheritance from a family member, you might want to use a qualified disclaimer to refuse the bequest. As a result, the assets will bypass your estate and go directly to the [...]
Newburg | CPA News Brief September 6, 2022 Are you inclined to donate assets to a charity for a period of time without ultimately giving up the property? Consider the benefits of a charitable lead trust (CLT). This type of trust is essentially the opposite of the charitable remainder [...]
Newburg | CPA News Brief August 23, 2022 For many business owners, estate planning and succession planning go hand in hand. As the owner of a closely held business, you likely have a significant portion of your wealth tied up in the business. If you don’t take the proper [...]
Newburg | CPA News Brief October 18, 2022 President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing a legislation intended to address inflation by paying down the national debt, lowering consumer energy costs, providing incentives for the production of clean [...]
Newburg | CPA Special News Brief August 18, 2022 The Inflation Reduction Act of 2022 signed into law on August 16th includes the largest-ever U.S. investment committed to combat climate change, allocating $369 billion to energy security and clean energy programs over the next 10 years, including provisions incentivizing [...]
