INSIGHTS

We See Things Differently

When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.

Insights Brett Friedman, CFP® Insights Brett Friedman, CFP®

Why Keeping Board Meeting Minutes Is So Important

Good minutes from Board of Director meetings keep the organization on track and moving forward with the mission. But minutes don’t just contain essential information for your organization, but for your future audit as well. Here’s the best way to take minutes and why keeping good minutes will pay off.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

Great American Rescue Plan Signed into Law

News broke on March 11, 2021, that Biden’s American Rescue Plan Act of 2021 had been signed into law, sending $1.9 trillion in Coronavirus relief to individual Americans and small businesses. Here’s what you need to know about the new bill and how it will affect you and your business.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

5 tips for safe intrafamily loans

If a relative needs financial help, offering an intrafamily loan might seem like a good idea. But if not properly executed, such loans can carry negative tax consequences. This article presents five simple steps that would-be lenders should consider before making such an arrangement.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

Rolling over capital gains into a qualified opportunity fund

Anyone selling a business interest, real estate or other highly appreciated property could get hit with a substantial capital gains tax bill. One way to soften the blow—though it ties up the funds long term—is to “roll over” the gain into a qualified opportunity fund (QOF). This article explains how QOFs work and their potential benefits.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

How to avoid tax scams

Scam artists seem to come out of the woodwork when there’s money involved—and taxes are no exception. Fortunately, by becoming familiar with common tax scams and understanding what the IRS will and won’t do, it’s easy to avoid them. This article explores several tax frauds and explains how taxpayers should act if they feel they’ve been the target of one.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

When 15-year depreciation for QIP might be better than 100% bonus depreciation

Earlier this year, Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property (QIP). The correction is part of the CARES Act. It retroactively allows real property owners to depreciate QIP faster than before, either 100% the year the QIP is placed in service or over a 15-year period. This article explains the change and discusses why, though 100% bonus depreciation might sound a lot better, in some cases 15-year depreciation will provide more tax savings in the long run.

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Insights, Tax Center Jennifer Ferraro Randolph Insights, Tax Center Jennifer Ferraro Randolph

Is a Roth IRA conversion right for you this year?

The COVID-19 pandemic has been causing havoc in the global markets and the U.S. economy. In these uncertain times, it’s important to stay on top of your financial status, including taking measures to protect your retirement nest egg over the long term. This article discusses what to consider when determining whether a Roth IRA conversion makes financial sense.

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