Tax
Act Now – Estate Tax Planning Under the Biden Administration

Act Now – Estate Tax Planning Under the Biden Administration

Over the past twenty years, there has been a dramatic change in the Estate tax laws. Given the Democratic control established in Washington, D.C. this month, additional Estate Tax reform is now a distinct possibility. Currently, each person can give away during lifetime, or distribute at death, an amount of $11.7 million without being subject to...

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Year-End Corporate Tax Considerations: The Essentials

Year-End Corporate Tax Considerations: The Essentials

As the end of year approaches, our thoughts turn to the holidays…and year-end tax planning. Especially in this year where there have been numerous disruptions, it is valuable to set aside some time to review company actions from a tax perspective. The following list outlines a few items that we believe companies should review before the holidays....

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Individual Tax Planning Following the November 2020 Elections

Individual Tax Planning Following the November 2020 Elections

Following the recent November 2020 elections, individual tax planning faces further uncertainty for the remainder of this year and into the beginning of 2021. While it appears that Democrats will control the House of Representatives and the White House, under a Joe Biden presidency, it is not clear which political party will control the U.S....

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CARES Act: Historic Senate Legislation to Provide Individuals with Personal Tax Rebates Among Other Tax Advantages (Updated March 27, 2020)

By: Ann M. Rieger On Friday, March 27th, the House of Representative approved the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The Act, which is designed to provide economic relief as the United States adapts to the outbreak of COVID-19, had previously been approved by the Senate in the late hours of March 25th, by a rare...

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Claiming Tax Credits For Paid Leave Under The Emergency Family And Medical Leave Act And The Emergency Paid Sick Leave Act

By: Mark G. Kmiecik and James M. Kalny The Families First Coronavirus Response Act (“Act”) provides two new refundable payroll tax credits (“tax credits”) for employers providing paid emergency sick leave or paid FMLA, including tax relief for self-employed individuals. As written, however, the Act is not practical as to these tax credits, since...

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CARES Act: Robust Tax Benefits for Businesses

By: Gini L. Hendrickson and Mark G. Kmiecik Near the midnight hour on March 25, 2020, the U.S. Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which includes numerous robust tax benefits to businesses in its $2 trillion aid package designed to assist the economy as it endures the effects of the...

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