- Coronavirus and Taxes: Frequently Asked Questions (FAQ)
- How is the COVID-19 outbreak affecting this tax season? In this post, we cover all your most pressing questions.
- Families First Coronavirus Response Act: What Employers Need to Know
- Here’s the latest information on the Families First Coronavirus Response Act and its implications for employers regarding sick leave and family medical leave.
- Treasury and IRS Announce 90-Day Delay for Tax Payment Deadline
- Treasury Secretary Steven Mnuchin has announced a 90-day reprieve for taxpayers to pay their income taxes owed. What does this mean for you?
- Why You Need a Financial Advisor Even More in Uncertain Times
- These trying times call for each of us to seek peace of mind and stability. For your small business, that means turning to your financial advisor.
- Where is Estate Tax Going in the Future?
- The Tax Cuts and Jobs Act (TCJA, often referred to as tax reform) generally became effective in 2018 and increased the federal estate and gift tax lifetime exclusion amount (LEA) from $5 million per person to $10 million per person. On top of that, the exclusion is annually adjusted for inflation, meaning the LEA for 2020 has been inflation-adjusted to $11.58 million. However, the provisions of TCJA are temporary, and unless Congress makes changes, the exclusion will revert to the pre-TCJA amount of $5 million (estimated to be $6.2 million when adjusted for inflation) beginning in 2026.
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