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 Jennifer Ferraro Randolph Insights Jennifer Ferraro Randolph

How to Ask a Parent to Step Down from Leading the Family Business

There comes a time when the patriarch or matriarch of your family business is no longer the best fit to lead the organization. This can be a delicate topic, especially if your family member does not want to let go of their position. The path to successfully transitioning leadership starts with succession planning.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

5 Tax Planning Tips for Retirees

There’s a common misconception that, after retirement, tax bills shrink, tax returns become simpler and tax planning is a thing of the past. That may be true for some, but many people find that the combination of Social Security, pensions and withdrawals from retirement accounts increases their income in retirement and may even push them into a higher tax bracket. This article provides five tax-planning tips for retirees.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

Rental real estate: Determining if a property is a business or an investment

If you own rental real estate, its classification as a trade or business rather than an investment can have a big impact on your tax bill. The distinction is especially important because of the 20% Sec. 199A deduction for certain sole proprietors and pass-through entity owners. This article provides a brief overview of the deduction and rental real estate guidance related to it. A sidebar spotlights the IRS definition of “real estate professional” as it relates to this tax matter.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

Are you liable for “nanny taxes”?

When employing household workers — which may also include housekeepers, cooks, gardeners, health care workers and other employees — it’s important to understand the tax obligations, commonly referred to as “nanny taxes.” This article provides a quick review.

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Insights, Tax Center Brett Friedman, CFP® Insights, Tax Center Brett Friedman, CFP®

When can you deduct business-related meals . . . and how much can you deduct?

The TCJA permanently eliminated deductions for most business-related entertainment expenses paid or incurred after 2017. But it didn’t specifically address the meals, beverages and snacks that often accompany entertainment activities. Then the CAA temporarily increased the deduction for certain business-related meal expenses. Many business owners today aren’t sure what they can deduct or how much they can deduct. This article tells them what they need to know.

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