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How to Plan Ahead for the 2026 Estate Tax Changes

The current federal estate and gift tax exemption is $12.92 million per person and $25.84 million per married couple for 2023. This means that you can transfer this amount of wealth to your heirs or beneficiaries without paying any federal estate or gift tax. However, this generous exemption is set…

December 8, 2023

The Corporate Transparency Act: Update II

We continue to monitor Corporate Transparency Act (CTA) developments. Two recent regulatory actions were announced by the Financial Crimes Enforcement Network (FinCEN), the bureau responsible for enforcing CTA provisions. Both regulatory actions are intended to help ease the reporting burden on affected reporting companies. For a general background of the…

November 22, 2023

Utilizing AI for your HR Needs

Over the past few months, I have enjoyed experimenting with the free version of ChatGPT. This artificial intelligence (AI) tool provides an efficient way to generate content for routine human resources (HR) tasks applicable to any employer. My first use was to generate new interview questions for an entry-level…

November 2, 2023

Subscription Based IT Arrangements for Government Entities

This article is relevant to entities following generally accepted accounting principles as issued by the Government Accounting Standards Board (GASB). In general, this article does not apply to for-profit or non-profit entities. Most governments have put the final polishing touches on their implementation of GASB 87 – Leases. So, it’s…

October 16, 2023

The Corporate Transparency Act: An Update

As promised in my earlier newsletter article “Making Translucency Out of Transparency: Our Take on the Corporate Transparency Act” (June 20, 2023), we are continuing to monitor developments on this new significant reporting law.  As we rapidly approach 2024, which ushers in the first filing requirements under this law,…

October 9, 2023

Why Should I Care How I Log In?

Do you work with sensitive or confidential information? I am sure you do and as you continue reading, you will learn more about two security models that are worth investigating and implementing in your business environment. This article briefly focusses on Multi-Factor Authentication and Single Sign-On while defining two additional…

October 9, 2023

There Are No Credits Like Energy Credits

With the signing of the Inflation Reduction Act of 2022, the Energy Efficient Home Improvement Credit, previously known as the Nonbusiness Energy Property credit, and the Residential Clean Energy Credit were revived and expanded. Energy Efficient Home Improvement Credit The Energy Efficient Home Improvement Credit is applicable only to your…

October 9, 2023

Estate Tax Exemption to Sunset

We’re all familiar with the age-old saying that only two things are certain in life: death and taxes. It’s safe to say that for most, discussing either topic isn’t exactly a delightful dinner conversation with your family. However, when these two inevitabilities in life intersect, the result can be financially…

October 9, 2023