…per taxpayer starting in 2026, indexed annually for inflation. Portability still applies and trusts continue to offer liability protection. Many taxpayers will no longer face estate tax, but estate planning…
…rate is $0.25 per $100 (0.25%) of the tax base, and there is a $100 minimum tax. This tax can be higher for in-state businesses versus out-of-state businesses. Is your…
Tax Filing Reminders and COVID-19 Related Tax Deadline Extensions Virginia tax deadline information updated April 12, 2021 In 2020, the IRS and the Virginia Department of Taxation extended numerous tax…
…contributions to high income tax years for tax planning purposes and then let the funds grow and appreciate in the DAF indefinitely before being distributed to charities, ACE would require…
…tax compliance. For CARF-accredited agencies, maintaining compliance with tax regulations is essential for both operational success and maintaining accreditation. Tax compliance challenges Maintaining tax-exempt status Many healthcare organizations, particularly non-profits,…
…Hampshire does not impose an income tax on non-grantor trusts. Virginia Residency Definition for Estates and Trusts On November 22, 2019, the Virginia Department of Taxation issued Tax Bulletin 19-7…
…Tax Resources Tax Extenders Deal Renewing Expired Tax Breaks Through 2020 Approved 2019 Tax Planning for Virginia Entrepreneurs and Executives Tax Residency of Estates and Trusts 2019/2020 Tax Planning Guide…
…of tax returns. Highlights of proposed business tax provisions The proposed Bill extends some of the Tax Cuts and Jobs Act of 2017 (TCJA) provisions that are now expired, delays…
Using the Updated IRS Tax Withholding Estimator (TWE) Numerous taxpayers filed their 2018 tax returns last spring only to find themselves with an unexpectedly large tax bill when for years…
…effective for tax years beginning after December 31, 2021. PLANNING NOTE: This new graduated tax rate structure coupled with the increases in the top individual income tax rate, imposition of…
…Security taxes, Medicare taxes, and FUTA taxes regardless of age. Retirement Planning Insight: If you employ your child, the child can establish a ROTH IRA and contribute up to the…