Drastic proposed changes to our current estate and gift tax system may have a dramatic impact on wealth transfer planning. On March 25, 2021, Senator Bernie Sanders released his proposed estate and gift tax reform legislation, which includes lowering the federal estate tax exemption to $3.5 million and the federal gift tax exemption to $1 million. On March 29, 2021, several senators introduced a discussion draft of the Sensible Taxation and Equity Promotion (STEP) Act,…
In the news and in banner ads all over your social media pages we are inundated with the ups and downs of cryptocurrency. From Bitcoin to Dogecoin to Ethereum to XRP and NFTs the number of options to expose yourself to are many. But the real story is where blockchain technology (the engine that drives cryptocurrency) will be utilized in things we do every day and how that will disrupt many professions and change the…
The phrase cancel culture has become ubiquitous over the last couple years. It strikes fear in the hearts of social media influencers and public figures everywhere. One post in poor taste or the unearthing of a years-old Tweet can bring a screeching halt to a politician’s campaign or rising artist’s rise to fame. So, what is an employer to do when an employee likes or shares an inflammatory article on Facebook or posts a Tik…
With the election of a new administration and a change in control of the United States Senate, there are expected to be changes to United States tax provisions for businesses and individuals. The changes that will be enacted and when they will be effective are the subject of great debate. However, looking at the proposals from the campaign trail, we are advising businesses and individuals to look at opportunities to position themselves to be agile…
On Sunday, December 27 President Trump signed a massive coronavirus relief package into law. The legislation was part of a bigger Omnibus bill that also ensured the federal government continued to be adequately funded through September 30, 2021. The relief bill helps to inject much needed stimulus into the economy and to individuals as a response to the continued distress caused by the COVID-19 pandemic.…
As the end of the year draws near there is newfound hope and optimism that 2021 will be better for individuals and businesses alike. Two different COVID-19 vaccines have already been approved by the Federal Drug Administration and are making their way to our health care workers and others deemed at high risk.…