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Tax Planning

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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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How to Lower Your Tax Bill With Deferred Compensation

Non-qualified deferred compensation plans are an area of increased activity, with year-end planning and tax uncertainty. Executives and key employees can take advantage of managing today’s still-low tax brackets while staging a custom payout plan in retirement at potentially lower rates. First, it’s important to understand how these plans work and what the pros and […]

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Post Election 2020 – Where Do Taxes Go From Here?

On November 17th, we hosted a virtual conversation with BDF’s income and estate tax planning experts during which we shared our insights on what the results of the election mean for estate and income tax changes in the future as well as what you need to consider before year-end given the potentially changing landscape. We […]

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3 Tips to Achieve a Tax-Smart Divorce

Divorce is expensive – time, energy, emotion, and of course, legal fees. And while transferring assets between spouses due to divorce does not generally result in a tax consequence, repositioning assets to create cash flow and a strategy to align with each spouse’s individual goals likely will. Avoiding these three mistakes will enable both spouses […]

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Good Bye 2020, Hello Taxes

Good news: The year 2020 is coming to an end. Historians will look back at 2020 as an epic year for chaos in the United States. We will not miss the Covid-19 Pandemic, the social unrest across the country, or the contentious presidential election.  Bad news: now that the election is over, and we have […]

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