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by Edward R. Jenkins When you are “in the zone,” you are hyper-focused and at peak performance. For investors, “the zone” means owning an optimal mix of investments with your desired risk and return profile. That zone is better when an investor takes advantage of lucrative new federal tax benefits while creating jobs and injecting […]

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by Brian J. Kutz Employers that provide parking to their employees may be in for a nasty surprise this tax season. A provision of the Tax Cuts and Jobs Act of 2017 (TCJA) disallows parking expenses incurred by employers that provide parking to their employees. On the nonprofit side, organizations are required to increase their […]

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by Thomas J. Taricani New estate planning opportunities created by the Tax Cuts and Jobs Act of 2017 (TCJA) makes now the perfect time to consider a lifetime transfer of wealth to your heirs. Even if you’ve recently updated your estate plan, you probably have to look at some updates to ensure you’re taking full […]

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By David J. Manbeck and Donna M. Mullin For years, nonprofits have operated under relatively stable financial reporting and taxability rules. Then came an upheaval. Accounting standards changed. So did tax laws. In this new age, nonprofits can seize the opportunity to align financial policies with their missions. Leveraging the changes precipitated by The Financial […]

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Got deductions? TCJA and the 20% deduction for qualified business income

11-27-2018

by Jay A. Goldman One major component of the new federal tax law that impacts most pass-through entities – such as S Corporations and LLCs – is the 20 percent deduction for qualified business income (QBI). Also known as Section 199A, this provision in the Tax Cuts and Jobs Act was an attempt to level […]

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by Edward R. Jenkins With the ending in September of an IRS program that allowed individuals with unreported offshore assets to report the holdings in return for reduced penalties, pressure is mounting on taxpayers with undisclosed foreign accounts. For those who can prove they were not willfully noncompliant in not reporting, the IRS still offers […]

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by Theresa A. Kane, Director of Insurance Services Unfortunately, news reports about employee theft and embezzlement are becoming more common. Making matters worse, in many cases, the culprits are long-time employees, who’s equally long-standing pilferage is discovered by accident. In one case, an employee opens the mail because the office manager is busy and sees […]

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