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 [...]
Newburg | CPA News Brief August 16, 2022 YEAR-END PLANNING FOR THE SOLAR ENERGY INVESTMENT TAX CREDIT Solar energy is a popular choice for businesses looking to reduce their carbon footprint through alternative energy sources. In addition to supporting a company’s environmental, social and governance (ESG) strategy, converting [...]
Newburg | CPA News Brief August 9, 2022 Social Security benefits: Do you have to pay tax on them? Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be [...]
Newburg | CPA News Brief August 2, 2022 What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell [...]
