News & Analysis as of

‘Tis the Season

Beginning in mid-December, the holiday season in the U.S. really starts to run on all cylinders. Whether you’re celebrating Hanukkah (beginning December 16), Winter Solstice (December 21), Festivus (December 23 – see...more

Deferral Elections for 2015 Compensation

As reported in Part 3 of our 2014 End of Year Plan Sponsor “To Do” List, employers that sponsor deferred compensation programs should take action to ensure that deferral elections that apply to compensation that will be...more

Six IRS Rules to Follow for Year-End Gifts to Charity

The holiday season is often a time for charitable gift giving. Here is a list of tax rules to follow to ensure your charitable deduction is respected by the IRS: - Qualified Charities. You can only deduct gifts to...more

'Tis the Season for Year-End Charitable Gifts

As you are making your list and checking it twice, you might want to consider whether you want to make any year-end gifts to your favorite charities. If you do, you will be in good company. According to the National...more

2014 Year-End Estate Planning Advisory

In 2014, we continued to experience a period of relative stasis in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

McNees Insights - Estate Planning - Fall 2014

In This Issue: - Year-End Tax Planning 2014 - Pennsylvania Makes Significant Changes to Power of Attorney Law - Have You Reviewed Your Estate Plan Recently? - Excerpt from Year-End Tax...more

Year-End Health and Retirement Plan Guidance Grab Bag

Following Hawaii’s enactment of legislation recognizing same-sex marriage as of and after December 2, 2013 a number of additional pieces of guidance were also issued. Internal Revenue Service’s Frequently Asked Questions...more

Year End Planning for a Prosperous New Year

As you make your holiday plans and prepare to ring in the New Year, it is also a great time to review your estate and tax plan. The following estate and tax planning tips may be useful in ensuring that your family has a...more

100 Percent Tax Exemption for Gain on Certain Qualified Small Business Stock Expiring at Year End

In January 2013, Congress enacted legislation that could provide certain investors who acquire qualified small business stock (“QSBS”) before the end of 2013 with a significant tax benefit. In effect, the gains realized from...more

Employee Benefits Alert: New Developments Impact Retirement Plans & More

Year-End Amendments - The month of December is a bit different in 2013. Typically, we mark this time scrambling to amend 401(k), profit sharing, and money purchase plans in order to maintain their tax-qualified status....more

2013 Year-End Tax Planning Strategies for Individuals and Businesses

Many of our clients have finalized their tax planning for the year. For those who have not and with only weeks remaining in 2013, there are still a number of opportunities to do some last-minute planning to save as much as...more

Year-End Checklist for California Nonprofits

As 2013 comes to a close, officers and directors are well advised to take a few moments to confirm that important year-end responsibilities have not been overlooked. Even if your organization has a fiscal year end other than...more

3 Things Small Business Owners Don't Include in Their Year-End Planning, But Should

When it comes to year-end planning, what's the one thing most small business owners don't do but should? That's the question we put to attorneys writing on JD Supra, knowing that the diversity of insights would make...more

Looking for Ways to Improve Your Business? A List of Things Every Business Owner Should Do At the End of the Year

As a business owner, all year you have likely been running around acting as manager, capital raiser, developer, business generator, marketer, human resource manager and administrative assistant. Given the numerous roles, it...more

McNees Insights - Asset Planning & Federal Taxation: Fall 2013

In This Issue: Timely Year-End Tax Planning Can Reduce Taxes; Income Tax Cost Basis Planning; and Marriage and Taxes in 2013. Excerpt from Timely Year-End Tax Planning Can Reduce Taxes - Year-end tax...more

2013 Year-End Estate Planning Advisory

In this issue - - Federal Estate, GST and Gift Tax Rates - Annual Gift Tax Exclusion - Federal Income Tax Rates - President’s Budget Proposal for Fiscal Year 2014 - Important Planning...more

2014 Annual Inflation Adjustments for Tax Provisions

The inflation adjustments for tax items for tax year 2014 of greatest interest to most taxpayers include the following dollar amounts....more

Timely Year-End Tax Planning Can Reduce Taxes

Year-end tax planning could be especially productive this year because timely action could nail down tax breaks that won’t be around next year unless Congress acts to extend them, which at the present time, looks doubtful....more

‘Tis the Season – For Year-End Charitable Giving

Most people make the bulk of their charitable contributions during the year-end holiday season. This post summarizes some of the charitable giving ideas and opportunities, as well as some planning reminders, that donors may...more

Tax-Qualified Retirement Plans: Amendments and Other Year-End Action Items - 11/21/2013

Plan sponsors should consider whether they need to make certain plan amendments or provide certain plan notices prior to the end of the year. The end of the year marks the deadline by which sponsors of qualified...more

Smarter Ways to Make Year-End Charitable Gifts

One way you can make a year-end charitable gift is to write a check to the charity and take a charitable deduction on your income tax return. The problem is that you're using “after tax dollars” to make the gift....more

Tax planning for year-end; expiration of the 100% tax exemption for gain on QSBS

Just a reminder that the temporary 100% exclusion for Federal capital gains tax on the sale of “qualified small business stock” (“QSBS”), under Section 1202 of the IRS regulations, is set to expire at the end of calendar year...more

Fully Appreciating Year-End Charitable Gifts

As year-end approaches, many of you are finalizing your charitable gifts for the year. For tax deductibility purposes, charitable contributions are governed by several rules. One of the best strategies to reduce your...more

DID YOU KNOW? News You Need Now From Perkins Coie's Family Office Services Group

Welcome to the Family Office Services Group's new update series "Did You Know?" It is an easy-to-read, timely and brief focus on legal issues and developments facing you and Family Offices throughout the year. ...more

Tips for Productive 2013 Year-End Tax Planning

Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to extend them, which, at the present time, looks...more

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