Address Digital Assets in Your Estate Plan
Today, almost everyone owns some sort of digital asset – and some of these assets can be quite valuable. But if your estate plan doesn’t account for digital assets property, your heirs may not be able to access them. So, factoring these intangibles into your estate plan is essential. What Are Digital Assets? Financial transactions are
Get Our Latest Insights on the Topics that matter most to you
Buy or Lease? Choosing the Right Option for Your Business
Does your company need to upgrade or add any equipment, vehicles, leasehold improvements, or other fixed assets? If so, you might be evaluating whether it makes sense to purchase or lease these items. The One Big Beautiful Bill Act (OBBBA) enhances first-year depreciation tax breaks, creating incentives for businesses to buy new and used assets.
QCDs Can Be a Tax-Savvy Move for Seniors
For some time now, individuals age 70½ and older have been able to transfer funds directly from a traditional IRA to an IRS-approved charity. However, with the enactment of the One Big Beautiful Bill Act (OBBBA) earlier this year, these qualified charitable distributions (QCDs) have become an even tax-savvier way to give to charity. If
Why Estate Planning Still Matters
Given the dramatic increase in the federal gift and estate tax exemption over the last 20 years, there’s a common misconception that federal estate planning is a concern of only the wealthiest individuals. Indeed, with the exemption amount currently at $13.99 million (increasing to $15 million in 2026), most families don’t need to be concerned
Turn Your Volunteer Work into Savings
As the holiday season approaches, you may be thinking about donating your time to a favorite charity. Perhaps you’re organizing a holiday bazaar for a local animal shelter, serving Thanksgiving meals to the homeless, or transporting gifts to needy children. Or maybe you support a cause that’s important to you by volunteering year-round. However many
How USPS Postmark Change Impacts Taxpayers
Mailbox Rule The mailbox rule is a long-standing tax principle that treats certain tax documents and payments as filed or made on the date they are mailed, rather than the date they are received by the IRS. Under Internal Revenue Code Section 7502, a document is generally considered timely if it bears a U.S. postmark
Halloween at Hancock/Dana
Halloween brought plenty of fun and creativity to Hancock/Dana this year! Our team got into the spirit with festive costumes, candy-filled celebrations, and a few friendly competitions along the way. The costume contest was a big hit. Congratulations to our winners, the Teenage Mutant Ninja Turtles, for their teamwork and creativity. They definitely brought their
Will Your AMT Exposure Change Under the New Tax Rules?
Significantly fewer taxpayers have owed the alternative minimum tax (AMT) for the last several years. This is because the Tax Cuts and Jobs Act (TCJA) made the individual AMT rules more taxpayer-friendly for 2018 through 2025. The One Big Beautiful Bill Act (OBBBA) contains mixed news about individual taxpayers’ AMT exposure. Here’s an overview of
Sooner or Later? Picking the Right Start Date for Your Social Security Benefits
Deciding when to start receiving Social Security benefits can be a tough call for seniors. You can start claiming Social Security benefits as early as age 62. But if you want to receive full benefits, you’ll need to wait until you reach your full retirement age (FRA), which varies based on when you were born.
Employers: Avoid Tax Surprises When Making Holiday Gifts to Employees
As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options are plentiful. But not all gifts are treated equally by the IRS. The tax implications depend on factors such as the type and value of the