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Simplifying Restricted Stock – What You Need to Know

Many companies offer restricted stock awards (RSA’s) in their executive compensation packages to drive performance and attract and retain top talent. The challenge often lies with understanding the value and opportunities of these packages. Today we’ll discuss a very important but not-so-well understood topic, the 83(b) Election. RSAs vs. RSUs First, it’s important to note […]

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Counselor Cobbler, Do Your Children Have Shoes?

There is an old (very old, I think) saying that goes something like this… “the cobbler’s children have no shoes.”  The idea, of course, is that the cobbler is so busy making shoes for other people that he doesn’t take time to make sure his children have shoes.  In my experience, lawyers can quite often […]

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How the New Stimulus Package Benefits Divorced Families

As you have likely heard by now, the $1.9 trillion American Rescue Plan Act is now enacted. The package expands relief provisions first introduced in the Coronavirus Aid, Relief and Economic Security (CARES) Act and creates new measures to provide relief to the American people. In this piece, we will specifically focus on how this […]

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Do You Need Life Insurance for Life?

Not everyone needs life insurance. Some of those that do can be handled with simple solutions. Others may be best served by more complex planning. Determining Your Need for Life Insurance Insurance of any kind is simply a transfer of risk. Premiums are payments to shift the financial risk from you to the carrier. Life […]

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Gifting of Carried Interest – A Strategy To Save Estate Taxes

One of the common pain points for financial professionals (private equity professionals, investment bankers, and asset managers) that we hear is “I pay too much in taxes.” Most professionals typically are talking about income taxes; however, estate taxes often get overlooked. If you are a private equity professional, one of the great tactics unique to […]

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Important Changes From The American Rescue Plan of 2021

President Biden recently signed the $1.9 trillion American Rescue Plan Act of 2021 (the “American Rescue Plan”). The package expands relief provisions first introduced in the Coronavirus Aid, Relief and Economic Security (CARES) Act from March 2020 and introduces new measures to help families and businesses. What does this mean specifically for you? Below is […]

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6 Tax Planning Checks That Could Save Thousands!

Now that tax time is here; you’re probably starting to load everything into your tax preparation software or send documents to your CPA.  There are many tax documents mailed to you or available online, but what about some of the items that are tougher to keep track of?  Here are six tax strategies that are […]

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Gifting Stock Options to Family Members – What You Need to Know

Stock options have long been an attractive component of executive compensation. Sometimes we are asked if it is possible to transfer employee stock options to family members as part of an estate reduction strategy. It’s an interesting question and possible under certain circumstances. For executives that know they have enough to meet other goals and […]

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Cash Balance Plans – What’s in It for Me?

Now that the political picture has come into sharper focus, many investors wonder what they should be thinking about in terms of tax planning.  While the Biden administration has yet to roll out specific tax-related priorities, most observers believe that some tax reform is forthcoming.  With that in mind, what should attorneys be thinking about […]

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Top 3 Year-End Planning Tips for Lawyers

As I’ve spoken with many lawyers throughout 2020, I’ve been impressed by how resilient most law firms have been.  Most lawyers have seen their firms hold steady, and some have even seen growth in 2020.  I consider that an amazing testament to the long-established truth that nothing of any importance gets done without the input […]

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Business Considerations for Your Start-Up

Getting a business off the ground can be stressful, and the need to decide which entity structure to use amid all the chaos can be overwhelming.  There are many different factors to consider, such as ease of administration, liability protection, legal requirements and income tax implications.  In this blog, we’ll take a high-level look at […]

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The Widow’s Tax Penalty and How to Plan for it

If you are a couple filing your taxes jointly, one of you will likely file as an individual one day. Some statistics say as much as 80% of wives will outlive their husbands. The widow’s “tax penalty” or “tax trap,” as some call it, refers to the situation many surviving spouses face with having to […]

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