Newburg | CPA News Brief July 26, 2022 Estate planning experts usually cite the need to include advance health care directives in a comprehensive estate plan. But there may be different legal names given to those directives, depending on one’s jurisdiction. In any event, regardless of what they’re called [...]
Newburg | CPA News Brief July 19, 2022 In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the financial risks and rewards. However, you also should know that renting [...]
Newburg | CPA News Brief July 12, 2022 If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the [...]
Newburg | CPA News Brief July 5, 2022 Are you, or is your spouse, a non-U.S. citizen? If so, several traditional estate planning techniques won’t be available to you. However, if you’re a U.S. resident, but not a citizen, the IRS will treat you similarly to a U.S. citizen. [...]
Newburg | CPA News Brief June 28, 2022 Intrafamily loans allow you to provide financial assistance to loved ones — often at favorable terms — while potentially reducing gift and estate taxes. But what about families that lack the liquid assets to make such loans? Are there other options [...]
Newburg | CPA News Brief June 21, 2022 The unified gift and estate tax exemption is set at an inflation-adjusted $12.06 million for 2022, up from $11.7 million for 2021. This means that for many families, estate tax liability isn’t a factor. However, for others, the annual gift tax [...]
Newburg | CPA News Brief Newburg | CPA- Staff Writers June 14, 2022 Our accounting service experts utilize a variety of accounting software packages, the primary of which is Intuit’s QuickBooks Online (QBO). Our QBO Pro Advisors team has included below some of the best tips and tricks for [...]
Newburg | CPA News Brief June 7, 2022 Inattention to beneficiary designations and jointly titled assets can quickly unravel your estate plan. Suppose, for example, that your will provides for all of your property to be divided equally among your three children. But what if your IRA, which names [...]
Newburg | CPA News Brief May 31, 2022 Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented [...]
Newburg | CPA Special News Brief May 26, 2022 As of Tuesday May 31, 2022 QuickBooks Desktop will no longer be supporting add-on services and will discontinue technical support for all QuickBooks versions 2019 and prior. Security updates will also be discontinued. It is for this reason that our [...]
