Tax Articles

The U.S. Tax Court recently ruled that management fees a corporation paid to shareholders over a three-year period weren’t deductible; instead, they represented disguised distributions.

The Consolidated Appropriations Act of 2021 (Act), signed into law on December 27, 2020, contains significant enhancements and improvements to the Employee Retention Credit (ERC) for 2020-2021.

For your convenience, we have updated our one-page ERC overview for 2022.  This flyer simplifies eligibility rules, credit amounts, qualified wages, and the employee threshold.

A grantor retained annuity trust (GRAT) is a popular estate planning tool that families can use to transfer wealth to younger generations.

The following guide includes many of the most important 2022 federal tax amounts including capital gain tax rates, alternative minimum tax, estate and trust income tax rates, itemized deduction limits, and an increase to the 2022 standard mileage rates.

Defined value gifts can be used to minimize gift tax on transfers of difficult-to-value assets, such as interests in a closely held business or family limited partnership.

Year end is always a good time for business owners to reevaluate their estate plans.

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP Act), the $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and accelerating the administration of coronavirus vaccines and testing.

The following guide includes many of the most important 2021 federal tax amounts including capital gain tax rates, standard mileage rates, estate and trust income tax rates, and itemized deduction limits.

Business owners and their legal advisors may be tempted to rely on multiples of earnings before interest, taxes, depreciation, and amortization (EBITDA) to estimate the value of a business.