About Topel Forman
ALERTS AND ARTICLES
Stay up to date with the most recent industry news and what’s happening at Topel Forman
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.
Benefit From The Purchase of An Electric Vehicle
The law states that additional guidance will be issued before December 31, 2022. However, the current law has several additional provisions that take effect on January 1, 2023. It includes credits for preowned electric vehicles, changes to how the credits are calculated, bifurcations between mineral and battery requirements, and other limitations.
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Best of the Best Firms
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 169th largest accounting firm in the U.S., and a 2022 Best of the Best Firm.
Crypto Currency Is Not Subject To Wash Sale Rules
However, crypto is viewed as property, and the wash sale rules do not apply. The build back better bill was going to include a provision to expressly address this and have crypto fall under these provisions (or something similar) however, the bill did not become law.
Summers At Topel Forman
At Topel Forman, we often talk about balance which can mean many things, including reconnecting, providing flexible time off, and more. In our field, by nature, we always have busy tax seasons. As a result, employee satisfaction has always been at the forefront of our strategy, and we have recently further embraced the concept of creating a work and life balance culture. We promote the well-being of our employees, both in and out of the office.
Three tax breaks for small businesses
For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But it’s not available to C corporations or their shareholders.
How to avoid the early withdrawal tax penalty on IRA distributions
When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a ...
The GST tax and your estate plan: What you need to know
The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code. So, if you’re planning to share some of your wealth with your grandchildren or great-grandchildren — or if your estate plan is likely to benefit these generations — it’s critical to consider and plan for the GST tax.
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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.
Benefit From The Purchase of An Electric Vehicle
The law states that additional guidance will be issued before December 31, 2022. However, the current law has several additional provisions that take effect on January 1, 2023. It includes credits for preowned electric vehicles, changes to how the credits are calculated, bifurcations between mineral and battery requirements, and other limitations.
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Best of the Best Firms
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 169th largest accounting firm in the U.S., and a 2022 Best of the Best Firm.
Crypto Currency Is Not Subject To Wash Sale Rules
However, crypto is viewed as property, and the wash sale rules do not apply. The build back better bill was going to include a provision to expressly address this and have crypto fall under these provisions (or something similar) however, the bill did not become law.
Summers At Topel Forman
At Topel Forman, we often talk about balance which can mean many things, including reconnecting, providing flexible time off, and more. In our field, by nature, we always have busy tax seasons. As a result, employee satisfaction has always been at the forefront of our strategy, and we have recently further embraced the concept of creating a work and life balance culture. We promote the well-being of our employees, both in and out of the office.
Three tax breaks for small businesses
For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But it’s not available to C corporations or their shareholders.
How to avoid the early withdrawal tax penalty on IRA distributions
When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a ...
The GST tax and your estate plan: What you need to know
The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code. So, if you’re planning to share some of your wealth with your grandchildren or great-grandchildren — or if your estate plan is likely to benefit these generations — it’s critical to consider and plan for the GST tax.
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