Topel Forman Blog

Is an LLC the right choice for your small business? (September 10, 2021)

An LLC that’s taxable as a partnership can provide special allocations of tax benefits to specific partners. This can be an important reason for using an LLC over an S corporation

Topel Forman LLC Ranked Among INSIDE Public Accounting’s Top 200 Firms in the U.S.

Topel Forman LLC was recently named one of the country’s top 200 accounting firms by INSIDE Public Accounting (IPA). The publication ranked Topel Forman as the 172nd largest accounting firm in the U.S., and a 2021 Fastest-Growing Firm

ABLE accounts may help disabled or blind family members (August 31, 2021)

Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many unanswered questions.

With A Self-Directed IRA, You Choose Your Own Investments (August 19 2021)

If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the likelihood that you’ll incur a penalty under the Affordable Care Act.

IRS issues ERC guidance as Congress mulls early termination (August 12, 2021)

If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the likelihood that you’ll incur a penalty under the Affordable Care Act.

Topel Forman Announces Department Heads of Tax and Audit

The Tax and Audit departments have new leadership by two of the partners, Jessica Schulman and John Rozek. Jessica explained that the formal creation of these department heads has been implemented to help the teams run efficiently and effectively and to make strategic decisions as the firm continues to grow. She expects that organizing the team of managers and partners will improve efficiency in the department’s administrative work and in the quality of service for clients.

There’s currently a “stepped-up basis” if you inherit property — but will it last? (August 3, 2021)

If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the likelihood that you’ll incur a penalty under the Affordable Care Act.

Topel Forman Hires New Senior Manager, Expanding Denver Office

Denver, CO – (July 2021) – Topel Forman, LLC, is pleased to announce that Christine Ludwig, CPA, has joined their Denver office as a new Senior Tax Manager. Christine’s addition is another step toward increasing the firm’s Denver presence. Topel Forman has had an...

Traveling for Business Again? What Can You Deduct? (July 21, 2021)

Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. Under the Tax Cuts and Jobs Act, employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. Self-employed individuals can continue to deduct business expenses, including away-from-home travel expenses.

Heading across state lines with your trust requires planning (July 15, 2021)

In some cases, it may be desirable to move a trust to a more favorable jurisdiction. But moving a trust from one state to another can present significant risks, so don’t attempt to do so without considering all the benefits, limitations and risks, and obtaining professional advice. There are many reasons for moving a trust to another jurisdiction.