Run The Numbers Before Donating Appreciated Assets To Charity

Are you charitably inclined? If so, you probably know that donations of long-term appreciated assets, such as stocks, have an advantage over cash donations. But in some cases, selling appreciated assets and donating the proceeds may be a better strategy. That’s because adjusted gross income (AGI) li..........

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Scott Henvey
Scott Henvey

16 January, 2023

Maurice La Verdure

Maurice La Verdure
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Recent Posts

SECURE 2.0 Law May Make You More Secure In Retirement

A new law was recently signed to help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2...........

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Maurice La Verdure
Maurice La Verdure

16 January, 2023

Selling stock by year-end? Watch out for the wash sale rule.

If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash sale” rule.

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Maurice La Verdure
Maurice La Verdure

16 December, 2022

Business Owners

Choosing a business entity? Here are the pros and cons of a C corporation.

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C&n..........

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Maurice La Verdure
Maurice La Verdure

5 December, 2022

Taxes, Planning

How Inflation Will Affect Your 2022 And 2023 Tax Bills

The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation will affect your fed..........

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Maurice La Verdure
Maurice La Verdure

17 November, 2022

Investing, Retirement Planning, Taxes

How Savings Bonds Are Taxed

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is t..........

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Maurice La Verdure
Maurice La Verdure

17 November, 2022

Trusting A Trust To Keep Your Assets Secure

Whether the economic climate is stable or volatile, one thing never changes: the need to protect your assets from risk. Hazards may occur as a result of factors entirely outside of your control, su..........

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Maurice La Verdure
Maurice La Verdure

10 October, 2022

The Inflation Reduction Act: what’s in it for you?

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, e..........

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Maurice La Verdure
Maurice La Verdure

6 September, 2022

Estate Planning

Does your trust provide for the removal of a trustee?

To ensure that a trust operates as intended, it’s critical to appoint a trustee that you can count on to carry out your wishes. But to avoid protracted court battles in the event that the trustee i..........

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Maurice La Verdure
Maurice La Verdure

6 September, 2022

How to avoid the early withdrawal tax penalty on IRA distributions

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals depending on how old you are when you take them and ..........

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Maurice La Verdure
Maurice La Verdure

9 August, 2022

How to treat business website costs for tax purposes

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted.

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Maurice La Verdure
Maurice La Verdure

9 August, 2022

The tax obligations if your business closes its doors

The tax obligations if your business closes its doors

Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can ..........

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Maurice La Verdure
Maurice La Verdure

11 July, 2022

Business Owners & Entrepreneurs

How do taxes factor into an M&A transaction?

How do taxes factor into an M&A transaction?

Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and s..........

Read More
Maurice La Verdure
Maurice La Verdure

11 July, 2022

Your estate plan: Don’t forget about income tax planning

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with the federal estate tax. Before 2011, a much smaller amount res..........

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Maurice La Verdure
Maurice La Verdure

21 June, 2022

4 estate planning documents your college-aged child should have

Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good news is that the summer months are the perfect time to enlist the help of an estate..........

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Maurice La Verdure
Maurice La Verdure

21 June, 2022

Want to turn a hobby into a business? Watch out for the tax rules

Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is pr..........

Read More
Maurice La Verdure
Maurice La Verdure

9 May, 2022

smallbusiness

Tax considerations when adding a new partner at your business

Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a ne..........

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Maurice La Verdure
Maurice La Verdure

9 May, 2022

Fully deduct business meals this year

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the..........

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Maurice La Verdure
Maurice La Verdure

11 April, 2022

Taxes

The tax rules of renting out a vacation property

Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for p..........

Read More
Maurice La Verdure
Maurice La Verdure

11 April, 2022

Estate Planning, Tax Reform, Retirees, Investment Advisory & Wealth Mangement

Defined-value gifts: Plan carefully to avoid unpleasant tax surprises

For 2022, the federal gift and estate tax exemption has reached its highest level ever. In fact, you can transfer up to $12.06 million by gift..........

Read More
Maurice La Verdure
Maurice La Verdure

11 March, 2022

Executives, Accounting Services, Business Owners, smallbusiness

The election to apply the research tax credit against payroll taxes

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break ava..........

Read More
Maurice La Verdure
Maurice La Verdure

9 March, 2022

Taxes, Tax Reform, Business Owners, smallbusiness

Important tax aspects of operating your business as a sole proprietor

If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of you..........

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Maurice La Verdure
Maurice La Verdure

16 February, 2022

Taxes, Estate Planning, Planning, Business Consulting

The donor-advised fund: A powerful vehicle for charitable giving

If charitable giving is important to you, consider a donor-advised fund (DAF). A DAF — typically sponsored and managed by a community foundati..........

Read More
Maurice La Verdure
Maurice La Verdure

16 February, 2022

Taxes, Planning, Business Consulting, Advance Child Tax Credit, Tax Audit

Married couples filing separate tax returns: Why would they do it?

If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation.<..........

Read More
Maurice La Verdure
Maurice La Verdure

21 February, 2022

Retirement Planning, Taxes, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement

Avoiding undue influence claims

A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family memb..........

Read More
Maurice La Verdure
Maurice La Verdure

18 January, 2022

Investing, Taxes, Executives, Tax Reform, Planning, Investment Advisory & Wealth Mangement

With proper planning, a charitable remainder trust can replicate a “stretch” IRA

The “stretch” IRA generally no longer exists. But if you have a substantial balance in a traditional IRA, a properly designed charitable remai..........

Read More
Maurice La Verdure
Maurice La Verdure

12 January, 2022

Taxes, Executives, Tax Reform, Planning, Retirees, Divorcees and Widows

How will revised tax limits affect your 2022 taxes?

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. Th..........

Read More
Maurice La Verdure
Maurice La Verdure

12 January, 2022

Business Owners & Entrepreneurs, Taxes, Tax Reform, Planning, Business Owners, smallbusiness

Providing a company car? Here’s how taxes are handled

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions fo..........

Read More
Maurice La Verdure
Maurice La Verdure

13 December, 2021

Taxes, Estate Planning, Tax Reform, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement

With year-end approaching, 3 ideas that may help cut your tax bill

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three qui..........

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Maurice La Verdure
Maurice La Verdure

13 December, 2021

Taxes, Estate Planning, Tax Reform, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement

Do you have a will?

The need for a will as a key component of your estate plan may seem obvious, but you’d be surprised by the number of people — even affluent in..........

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Maurice La Verdure
Maurice La Verdure

15 November, 2021

Business Owners & Entrepreneurs, Taxes, Tax Reform, Business Owners, smallbusiness

Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties

With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its grati..........

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Maurice La Verdure
Maurice La Verdure

15 November, 2021

Taxes, Tax Reform, Planning

The tax score of winning

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more trad..........

Read More
Maurice La Verdure
Maurice La Verdure

5 October, 2021

Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, ..........

Read More
Maurice La Verdure
Maurice La Verdure

27 September, 2021

Taxes, Tax Reform, Planning, Divorcees and Widows, Gift Tax

Planning for year-end gifts with the gift tax annual exclusion

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly usin..........

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Maurice La Verdure
Maurice La Verdure

21 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Planning, Business Owners, smallbusiness

Tax breaks to consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here..........

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Maurice La Verdure
Maurice La Verdure

14 September, 2021

Retirement Planning, Taxes, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement, Education

Estate planning in a socially distanced environment

As many states continue to struggle with the current surge in COVID-19 cases, the “new normal” demands continued social distancing in many are..........

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Maurice La Verdure
Maurice La Verdure

7 September, 2021

Retirement Planning, Taxes, Estate Planning, Planning, Retirees, Divorcees and Widows

Is recording my will signing on video a good idea?

Some people make video recordings of their will signings in an effort to create evidence that they possess the requisite testamentary capacity..........

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Maurice La Verdure
Maurice La Verdure

1 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Business Owners, smallbusiness, Tax Audit

Does your employer provide life insurance? See the tax consequences

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the c..........

Read More
Maurice La Verdure
Maurice La Verdure

26 August, 2021

Business Owners & Entrepreneurs, Retirement Planning, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

With a self-directed IRA, you choose your own investments

If you’re the type who would rather order ala carte rather than a set entrée, you might prefer a “self-directed” IRA. With this option, you ma..........

Read More
Maurice La Verdure
Maurice La Verdure

20 August, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement

Possible tax consequences of guaranteeing a loan to your corporation

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of..........

Read More
Maurice La Verdure
Maurice La Verdure

18 August, 2021

Business Owners & Entrepreneurs, Taxes, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

Is an LLC the right choice for your small business?

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or..........

Read More
Maurice La Verdure
Maurice La Verdure

10 August, 2021

Retirement Planning, Taxes, Estate Planning, Planning, Retirees, Divorcees and Widows, Investment Advisory & Wealth Mangement

Understanding the current "step-up" basis rules

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes.

Read More
Maurice La Verdure
Maurice La Verdure

30 July, 2021

Taxes, Executives, Tax Reform, Business Owners, Business Consulting, Tax Audit

Deductibility of corporate expenses covered by officers/shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up bei..........

Read More
Maurice La Verdure
Maurice La Verdure

26 July, 2021

Retirement Planning, Taxes, Estate Planning, Tax Reform, Planning, Retirees, Business Owners, Divorcees and Widows, Investment Advisory & Wealth Mangement

Does your estate plan address your grandchildren in a fair manner?

Many people, when planning their estates, simply divide their assets equally among their children. But “equal” may not necessarily mean “fair...........

Read More
Maurice La Verdure
Maurice La Verdure

14 July, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Hiring your minor children this summer? Reap tax and nontax benefits

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-t..........

Read More
Maurice La Verdure
Maurice La Verdure

8 July, 2021

Business Owners & Entrepreneurs, Executives, Planning, Business Owners, Business Consulting, smallbusiness

Are you holding a joint title to property with a family member?

Owning assets jointly with one or more of your children or other heirs is a common estate planning “shortcut.” But like many shortcuts, it may..........

Read More
Maurice La Verdure
Maurice La Verdure

1 July, 2021

Taxes, Executives, Tax Reform, Planning, Business Owners, smallbusiness

Traveling for business again? What can you deduct?

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for d..........

Read More
Maurice La Verdure
Maurice La Verdure

24 June, 2021

Business Owners & Entrepreneurs, Estate Planning, Executives, Planning

Estate planning in the FAST lane

Traditionally, estate planning has focused on more technical objectives, such as minimizing gift and estate taxes and protecting assets against credit..........

Read More
Maurice La Verdure
Maurice La Verdure

18 June, 2021

Retirement Planning, Taxes, Estate Planning, Executives, Retirees, Investment Advisory & Wealth Mangement

Retiring soon? 4 tax issues you may face

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications...........

Read More
Maurice La Verdure
Maurice La Verdure

17 June, 2021

Estate Planning, Executives, Planning, Retirees

Members of the sandwich generation find themselves in a unique situation

The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents ..........

Read More
Maurice La Verdure
Maurice La Verdure

17 June, 2021

Business Owners & Entrepreneurs, Tax Reform, Business Owners, smallbusiness

Ensure the IRS doesn’t reclassify independent contractors as employees

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified ..........

Read More
Maurice La Verdure
Maurice La Verdure

18 May, 2021

Business Owners & Entrepreneurs, Retirement Planning, Taxes, Estate Planning, Planning, Retirees

4 Reasons to Revisit Your Powers of Attorney

Although much of estate planning deals with what happens after you die, it’s equally important to have a plan for making critical financial or..........

Read More
Maurice La Verdure
Maurice La Verdure

12 May, 2021

Business Owners & Entrepreneurs, Taxes, Tax Reform, Planning

Unemployed last year? Buying health insurance this year?

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help..........

Read More
Maurice La Verdure
Maurice La Verdure

27 April, 2021

Business Owners & Entrepreneurs, Business Owners

Need a new business vehicle? Consider a heavy SUV

Are you considering buying or replacing a vehicle that you’ll use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able..........

Read More
Maurice La Verdure
Maurice La Verdure

30 March, 2021

Taxes

New law tax break may make child care less expensive

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit avail..........

Read More
Maurice La Verdure
Maurice La Verdure

29 March, 2021

Business highlights in the new American Rescue Plan Act

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing rel..........

Read More
Maurice La Verdure
Maurice La Verdure

15 March, 2021

Estate Planning

Not disclosing all of your assets helps no one

People sometimes keep assets hidden without letting their families know about their location or even that they exist. Similarly, they may have life in..........

Read More
Maurice La Verdure
Maurice La Verdure

15 March, 2021

Estate Planning

Now or later: When’s the right time to transfer your wealth?

To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the federal gift and estate tax exemption — to an inflation-adj..........

Read More
Maurice La Verdure
Maurice La Verdure

12 March, 2021

Business Owners & Entrepreneurs, Business Owners

Launching a small business? Here are some tax considerations

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these peop..........

Read More
Maurice La Verdure
Maurice La Verdure

11 March, 2021

Estate Planning

Creating an education legacy using a family education trust

For many people, an important goal of estate planning is to leave a legacy for their children, grandchildren and future generations. And what better w..........

Read More
Maurice La Verdure
Maurice La Verdure

4 March, 2021

Business Owners & Entrepreneurs, Business Owners

Work Opportunity Tax Credit extended through 2025

Are you a business owner thinking about hiring? Be aware that a recent law extended a credit for hiring individuals from one or more targeted groups. ..........

Read More
Maurice La Verdure
Maurice La Verdure

2 March, 2021

Business Owners & Entrepreneurs, Business Owners

What are the tax implications of buying or selling a business?

Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes ..........

Read More
Maurice La Verdure
Maurice La Verdure

22 February, 2021

Business Owners & Entrepreneurs, Business Owners

Many tax amounts affecting businesses have increased for 2021

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business..........

Read More
Maurice La Verdure
Maurice La Verdure

9 February, 2021

Estate Planning

Getting sentimental over your tangible personal property

As a formal estate planning term, “tangible personal property” likely won’t elicit much emotion from you or your loved ones. However, the items that m..........

Read More
Maurice La Verdure
Maurice La Verdure

29 January, 2021

Business Owners & Entrepreneurs, Business Owners

The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon

There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipient..........

Read More
Maurice La Verdure
Maurice La Verdure

26 January, 2021

Business Owners & Entrepreneurs, Business Owners

PPP loans have reopened: Let’s review the tax consequences

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate..........

Read More
Maurice La Verdure
Maurice La Verdure

21 January, 2021

Estate Planning

Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses

Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes. But if you have children ..........

Read More
Maurice La Verdure
Maurice La Verdure

19 January, 2021

Business Owners & Entrepreneurs, Business Owners

New law doubles business meal deductions and makes favorable PPP loan changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. He..........

Read More
Maurice La Verdure
Maurice La Verdure

13 January, 2021

Taxes

The COVID-19 relief law: What’s in it for you?

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, whi..........

Read More
Maurice La Verdure
Maurice La Verdure

12 January, 2021

Estate Planning

Make your legacy last by educating your children about wealth management

If you’ve worked to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other mon..........

Read More
Maurice La Verdure
Maurice La Verdure

4 January, 2021

Taxes

Your taxpayer filing status: You may be eligible to use more than one

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with ..........

Read More
Maurice La Verdure
Maurice La Verdure

31 December, 2020

Taxes

The next estimated tax deadline is January 15 if you have to make a payment

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to th..........

Read More
Maurice La Verdure
Maurice La Verdure

22 December, 2020

Estate Planning

With a flick of the switch: Build an on-off mechanism into your estate plan

When planning your estate, it’s critical to balance estate tax planning and income tax planning. The rub is that, currently, strategies for reducing e..........

Read More
Maurice La Verdure
Maurice La Verdure

18 December, 2020

Business Owners & Entrepreneurs, Business Owners

Drive more savings to your business with the heavy SUV tax break

Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind.

Read More
Maurice La Verdure
Maurice La Verdure

15 December, 2020

Taxes

Maximize your 401(k) plan to save for retirement

Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a smart way to build ..........

Read More
Maurice La Verdure
Maurice La Verdure

8 December, 2020

Estate Planning

Review your estate plan in light of a new presidential administration

As President-elect Joe Biden moves forward with the transition and prepares for the inau..........

Read More
Maurice La Verdure
Maurice La Verdure

7 December, 2020

Estate Planning

Avoid these four estate planning deadly sins

According to literature, the “seven deadly sins” are lust, gluttony, greed, laziness, wrath, envy and pride. Although individuals may be guilty of the..........

Read More
Maurice La Verdure
Maurice La Verdure

1 December, 2020

Taxes

The importance of S corporation basis and distribution elections

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will in..........

Read More
Maurice La Verdure
Maurice La Verdure

24 November, 2020

Taxes

Taking distributions from a traditional IRA

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more..........

Read More
Maurice La Verdure
Maurice La Verdure

17 November, 2020

Estate Planning

Name the right person as executor to help ensure your planning objectives are carried through

The executor’s role is critical to the administration of your estate and the achievement of your estate planning objectives. So your first instinct ..........

Read More
Maurice La Verdure
Maurice La Verdure

16 November, 2020

Estate Planning

Estate planning and your art collection

If you’re an art collector, it’s critical for your estate plan to address your collection separately from other types of assets. Investments in artw..........

Read More
Maurice La Verdure
Maurice La Verdure

5 November, 2020

Business Owners & Entrepreneurs, Business Owners

Tax responsibilities if your business is closing amid the pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can,..........

Read More
Maurice La Verdure
Maurice La Verdure

3 November, 2020

Taxes

Divorcing couples should understand these 4 tax issues

When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find d..........

Read More
Maurice La Verdure
Maurice La Verdure

28 October, 2020

Business Owners & Entrepreneurs, Business Owners

New business? It’s a good time to start a retirement plan

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types o..........

Read More
Maurice La Verdure
Maurice La Verdure

27 October, 2020

Taxes

Buying and selling mutual fund shares: Avoid these tax pitfalls

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares.

Read More
Maurice La Verdure
Maurice La Verdure

20 October, 2020

Taxes

What tax records can you throw away?

October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this ye..........

Read More
Maurice La Verdure
Maurice La Verdure

15 October, 2020

Estate Planning

Is a noncharitable purpose trust right for you?

There are two trust types that don’t require one or more human beneficiaries: charitable trusts and noncharitable purpose (NCP) trusts. A charitable..........

Read More
Maurice La Verdure
Maurice La Verdure

8 October, 2020

Taxes

Why it’s important to plan for income taxes as part of your estate plan

As a result of the current estate tax exemption amount ($11.58 million in 2020), many estates no longer need to be concerned with federal estate tax..........

Read More
Maurice La Verdure
Maurice La Verdure

30 September, 2020

Taxes

Can investors who manage their own portfolios deduct related expenses?

In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical expenses. Are th..........

Read More
Maurice La Verdure
Maurice La Verdure

23 September, 2020

Estate Planning

A health care power of attorney is an essential element of any estate plan

What happens if illness, injury or age-related dementia renders you unable to make decisions or communicate your wishes regarding your health care o..........

Read More
Maurice La Verdure
Maurice La Verdure

17 September, 2020

Business Owners & Entrepreneurs, Business Owners

2020 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this li..........

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Maurice La Verdure
Maurice La Verdure

14 September, 2020

Business Owners & Entrepreneurs, Business Owners

Employers have questions and concerns about deferring employees’ Social Security taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment..........

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Maurice La Verdure
Maurice La Verdure

9 September, 2020

Estate Planning

Making lifetime gifts continues to be a smart estate planning strategy

With the federal gift and estate tax exemption now at a record high $11.58 million for 2020, most estates aren’t taxable. But that doesn’t mean making lifetime gifts isn’t without significant benef..........

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Maurice La Verdure
Maurice La Verdure

4 September, 2020

Business Owners & Entrepreneurs, Business Owners

5 key points about bonus depreciation

You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it comes to this powerful..........

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Maurice La Verdure
Maurice La Verdure

31 August, 2020

Taxes

Will You Have to Pay Tax on Your Social Security Benefits?

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay?

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Maurice La Verdure
Maurice La Verdure

31 August, 2020

Estate Planning, Divorcees and Widows

Divorcing? Revise your estate plan

If you’re going through a divorce, you probably feel a little overwhelmed by all the legal and financial items you must attend to before the marriage termination is final. These tasks can be diffic..........

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Maurice La Verdure
Maurice La Verdure

20 August, 2020

Business Owners & Entrepreneurs, Business Owners

The President’s action to defer payroll taxes: What does it mean for your business?

On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were tak..........

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Maurice La Verdure
Maurice La Verdure

17 August, 2020

Taxes

More parents may owe “nanny tax” this year, due to COVID-19

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations.

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Maurice La Verdure
Maurice La Verdure

12 August, 2020

Estate Planning

Because of COVID-19, college-aged children need a basic estate plan

It’s August, and that means it’s time to get ready to go back to school for many students. If your child recently graduated from high school and is heading to college in the next few weeks, besides..........

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Maurice La Verdure
Maurice La Verdure

6 August, 2020

Business Owners & Entrepreneurs, Business Owners

File cash transaction reports for your business

Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions.

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Maurice La Verdure
Maurice La Verdure

4 August, 2020

Taxes

Are scholarships tax-free or taxable?

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bill..........

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Maurice La Verdure
Maurice La Verdure

28 July, 2020

Estate Planning

Fortify your assets against creditors with a trust

You may think of trusts as estate planning tools — vehicles for reducing taxes after y..........

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Maurice La Verdure
Maurice La Verdure

27 July, 2020

Taxes

Conduct a “paycheck checkup” to make sure your withholding is adequate

Did you recently file your federal tax return and were surprised to find you owed money? You might want to change your withholding so that this doesn’t happen next year. You might even want to do t..........

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Maurice La Verdure
Maurice La Verdure

22 July, 2020

Estate Planning

Zeros and ones: Estate planning for your digital assets and accounts

Nearly everyone owns at least some digital assets, such as online bank and brokerage a..........

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Maurice La Verdure
Maurice La Verdure

17 July, 2020

Business Owners & Entrepreneurs, Business Owners

Steer clear of the Trust Fund Recovery Penalty

If you own or manage a business with employees, you may be at risk for a severe tax penalty. It’s called the “Trust Fund Recovery Penalty” because it applies to the Social Security and income taxes..........

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Maurice La Verdure
Maurice La Verdure

9 July, 2020

Taxes

Some people are required to return Economic Impact Payments that were sent erroneously

The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EI..........

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Maurice La Verdure
Maurice La Verdure

1 July, 2020

Estate Planning

Avoid pitfalls when splitting gifts with your spouse

The annual gift tax exclusion allows you to transfer up to $15,000 per beneficiary gif..........

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Maurice La Verdure
Maurice La Verdure

26 June, 2020

Business Owners & Entrepreneurs, Business Owners

Launching a business? How to treat start-up expenses on your tax return

While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being lau..........

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Maurice La Verdure
Maurice La Verdure

22 June, 2020

Retirement Planning, Retirees

Seniors: Can you deduct Medicare premiums?

If you’re age 65 and older, and you have basic Medicare insurance, you may need to pay..........

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Maurice La Verdure
Maurice La Verdure

14 July, 2020

Retirement Planning, Traditional IRA

A nonworking spouse can still have an IRA

It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly pare..........

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Maurice La Verdure
Maurice La Verdure

14 July, 2020

Business Owners & Entrepreneurs, Business Owners

IRS releases 2021 amounts for Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). 

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Maurice La Verdure
Maurice La Verdure

14 July, 2020

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