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Deciding whether to make lifetime gifts or bequests at death can be a deceptively complex question
Current tax law may make that an enticing proposition, given the inflation-adjusted $12.92 million gift and estate tax exemption. However, making lifetime gifts isn’t right for everyone. Depending on your circumstances, there may be tax advantages to keeping assets in your estate and making bequests at death.
2023 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. ...
Topel Forman Promotes New Partner – Christine Ludwig
Christine Ludwig, CPA has been promoted to Partner at Topel Forman. Christine is the first partner based out of the Denver office. She provides tax and advisory services to professionals specializing in partnership taxation, manufacturing & distribution, and real estate. She also provides federal and state income taxation and advisory. services for high net worth individuals.
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 ...
What do the 2023 cost-of-living adjustment numbers mean for you?
The TCJA suspended personal exemptions through 2025. However, it nearly doubled the standard deduction, indexed annually for inflation through 2025. For 2023, the standard deduction will be $27,700 (married couples filing jointly), $20,800 (heads of households), and $13,850 (singles and married couples filing separately). After 2025, standard deduction amounts are scheduled to drop back to the amounts under pre-TCJA law unless Congress extends the current rules or revises them.
2023 limits for businesses that have HSAs — or want to establish them
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to ...
2022 Year-End Tax Planning Strategies
As the year comes to a close, there are still a few weeks to maximize your tax-saving strategies. Here are some reminders and options as you plan your year-end and look forward to 2023.
Hurricane Ian and Personal Property Losses
The recent hurricane crisis in Florida has impacted several of us and devastated some families. As we try to cope ...
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for ...
Topel Forman Awarded Top Workplace 2022
Topel Forman Named Top Workplace
Chicago, IL (November 2022) —Topel Forman is proud to announce we've been ...
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, extends, and modifies many climate and energy-related tax credits that may interest individuals.
Evaluating an ESOP from a succession planning perspective
Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way.
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Deciding whether to make lifetime gifts or bequests at death can be a deceptively complex question
Current tax law may make that an enticing proposition, given the inflation-adjusted $12.92 million gift and estate tax exemption. However, making lifetime gifts isn’t right for everyone. Depending on your circumstances, there may be tax advantages to keeping assets in your estate and making bequests at death.
2023 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. ...
Topel Forman Promotes New Partner – Christine Ludwig
Christine Ludwig, CPA has been promoted to Partner at Topel Forman. Christine is the first partner based out of the Denver office. She provides tax and advisory services to professionals specializing in partnership taxation, manufacturing & distribution, and real estate. She also provides federal and state income taxation and advisory. services for high net worth individuals.
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 ...
What do the 2023 cost-of-living adjustment numbers mean for you?
The TCJA suspended personal exemptions through 2025. However, it nearly doubled the standard deduction, indexed annually for inflation through 2025. For 2023, the standard deduction will be $27,700 (married couples filing jointly), $20,800 (heads of households), and $13,850 (singles and married couples filing separately). After 2025, standard deduction amounts are scheduled to drop back to the amounts under pre-TCJA law unless Congress extends the current rules or revises them.
2023 limits for businesses that have HSAs — or want to establish them
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to ...
2022 Year-End Tax Planning Strategies
As the year comes to a close, there are still a few weeks to maximize your tax-saving strategies. Here are some reminders and options as you plan your year-end and look forward to 2023.
Hurricane Ian and Personal Property Losses
The recent hurricane crisis in Florida has impacted several of us and devastated some families. As we try to cope ...
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for ...
Topel Forman Awarded Top Workplace 2022
Topel Forman Named Top Workplace
Chicago, IL (November 2022) —Topel Forman is proud to announce we've been ...
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, extends, and modifies many climate and energy-related tax credits that may interest individuals.
Evaluating an ESOP from a succession planning perspective
Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way.
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