Compensation may take several forms, including salary, fringe benefits and bonuses. If you’re an executive or other key employee, you might receive stock-based compensation, such as restricted stock, restricted stock units (RSUs) or stock options (either incentive or nonqualified). Nonqualified deferred compensation (NQDC) may also be included in your exec comp package. The tax consequences…

Because the TCJA has put estate, gift and generation skipping transfer (GST) tax exemptions at record-high levels, far fewer taxpayers are worrying about these taxes. But the high exemptions are only temporary, and proposed tax law changes could also increase taxes when assets are transferred. So whether or not you’d be subject to estate taxes…

Robert has an estate of $12 million. In 2021, he has already made $15,000 annual exclusion gifts to each of his chosen beneficiaries. With future inflation adjustments, the exemption might be enough to protect his entire estate. But he’s in good health and believes he’ll live beyond 2025. He also thinks that the exemption might…

This guide includes year-round strategies to make the tax laws work for you. Learn about important tax law changes and ways to minimize your income tax liability.  Table of Contents: Income & Deductions Executive Compensation Investing Real Estate Business Ownership Charitable Giving Family & Education Retirement Estate Planning Tax Rates

The House of Representatives passed H.R. 5376, the Build Back Better Act, by a vote of 220–213. The bill encompasses a wide range of budget and spending provisions and has been the focus of negotiations for the past several weeks. The vote on the bill was held after the Congressional Budget Office (CBO) released its…

For construction companies struggling to find skilled labor, a generous benefits package that includes a robust retirement plan can be a powerful recruiting tool. But providing cost-effective, high-quality retirement benefits for employees can be a challenge — especially for small businesses. One new option to consider is a pooled employer plan (PEP). This variation on…

CASE STUDY: Stock-Based Compensation This case study accompanies the blog, “Smart Tax Planning for your Executive Compensation Package is Critical.” Mario was about to receive some stock-based compensation from his employer, so he contacted his tax advisor to find out what the tax consequences would be. His advisor explained that the tax treatment would depend…

Tax treatment for investments varies dramatically based on factors such as type of investment, type of income it produces, how long you’ve held it and whether any special limitations or breaks apply. On top of that, economic uncertainty has made tax planning for investments especially challenging this year. And there are many additional factors to…

Compensation may take several forms, including salary, fringe benefits and bonuses. If you’re an executive or other key employee, you might receive stock-based compensation, such as restricted stock, restricted stock units (RSUs) or stock options (either incentive or nonqualified). Nonqualified deferred compensation (NQDC) may also be included in your exec comp package. The tax consequences…

It has become a cliché in 2020, but what word other than “unprecedented” can be used to describe the events we’ve experienced this year? During such times, tax planning is far from top of mind. But it’s still important. Smart tax planning can soften the impact of an uncertain economy and provide much-needed relief to…