March Newsletter

Opportunity Zones offer substantial tax incentives to investors willing to allocate capital in designated low-income areas.

The U.S. Department of Labor recently issued a new final rule related to employment status under the Fair Labor Standards Act. Essentially, it replaces a 2021 rule and reinstates the six key factors set forth by the U.S. Supreme Court in 1947 — with some modifications based on court rulings over the years. Here’s what businesses and workers should know about the changes.

After tying the knot, you have an important decision when it’s time to file your federal income tax return. Married taxpayers can choose to file either a joint return or separate returns. There are pros and cons to both tax filing statuses. Here’s what married couples should know before they file their 2023 returns.

With the many types of loans available to borrowers, nonrecourse loans remain popular because they can shield borrowers from personal liability. But lenders will try to add “carveouts” to minimize that protection. If borrowers violate carveouts in the loan document, they may be left with full liability. This article highlights why both lenders and borrowers will negotiate nonrecourse loan carveouts, with borrowers looking to minimize personal liability.

1. Little Bits of Income Still Count

2. Can you Split the Mortgage Interest Deduction?

3. Health Insurance Premium Tax Credits

4. Don’t Miss Your Refund Due to an Address Change!

5. Bunching Your Medical Expenses for a Higher Deduction

For 2024, the unified federal gift and estate tax exemption is $13.61 million (effectively $27.22 million for married couples). If you’re like most people, your estate is below this threshold. But you should still consider installing a basic estate plan that includes such elements as a written will and a living trust to protect your assets and your intended beneficiaries.