Every CPA understands that “asset allocation” is the determination of which asset classes (e.g., tax-exempt bonds, large cap stocks, international stocks) are included in a…
Reviewing Contracts with Customers
How CPAs Can Advise Business Owners
CPAs do not review contracts or practice law, but if they fail to pose common sense legal questions to their business clients, those clients may…
In Brief The sweeping changes of the Tax Cuts and Jobs Act (TCJA) have prompted reconsideration of many financial plans. The realm of estate planning…
Real estate developers and investors need to address estate planning. This need is likely not urgent, as it is unlikely that a Democratic House and…
Estate Planning after the Tax Cuts and Jobs Act
Opening the Dialogue
Many articles have been written about how the changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) will affect estate planning. These…
The Tax Cut and Jobs Act (TCJA) was signed into law by President Trump on December 22, 2017 and is the most comprehensive tax law…
ICYMI | Advising Individuals with Chronic Illnesses
Practical Planning and Practice Development for CPAs
In Brief Chronic illness is more prevalent than many believe. Cognitive decline can occur suddenly as a result of an accident, or subtly over time;…
In Brief The sweeping changes of the Tax Cuts and Jobs Act (TCJA) have prompted reconsideration of many financial plans. The realm of estate planning…
The New Jersey estate tax exemption for 2016 stood at $675,000, and it increased to $2 million in 2017. Both exemption amounts are well below…
The Tax Cut and Jobs Act (TCJA) was signed into law by President Trump on December 22, 2017 and is the most comprehensive tax law…
Taxpayers and their advisors alike are focused on the potentially massive tax changes being discussed in Congress. As of this writing, it is uncertain what…
Too often, valuable planning steps fall between the tasks a high-net-worth individual's various advisors believe to be within their purview. Should the step be addressed…
Annual Review Meetings
How to Get Individuals to Act
Annual reviews are crucial to all estate and financial plans; it is important for individuals to keep their trusted advisors abreast of any life event…
Advising Individuals with Chronic Illnesses
Practical Planning and Practice Development for CPAs
In Brief Chronic illness is more prevalent than many believe. Cognitive decline can occur suddenly as a result of an accident, or subtly over time;…
ERP | N.J. Estate Tax Repeal
Will it Last and Who Will Benefit?
The New Jersey estate tax exemption for 2016 stood at $675,000, and it increased to $2 million in 2017. Both exemption amounts are well below…
ERP | Valuation Discounts under IRC Section 2704
Take Action on the Proposed Regulations Now
There has been a deluge of articles analyzing the proposed Treasury Regulations under Internal Revenue Code (IRC) section 2704, which, if finalized in anything like…
Transactions in which an older person advances money to a trust to pay premiums for a life insurance policy on a child or children using…
Often, some of the most valuable estate planning results are achieved not by using the big-picture items like bypass trusts, discounts, or note sales, but…
Estate planning continues to evolve in ways that enhance the importance of the CPA's role relative to other advisors and to what it has been…