The Pulse on the Economy and Capital Markets: Dec 27 – Dec 31, 2021

At a glance: Overall, the U.S. performed well as stock markets closed out 2021 strong and leading economic indicators are pointing to global growth. While stocks outperformed in 2021, bonds had a rough year due to inflation trending higher than expected. Despite continued supply chain challenges and the rise in Omicron cases, U.S. manufacturers and…

Read More

1031 Exchanges –Navigating Related Party Exchanges

At a glance: The main takeaway: With careful tax planning, 1031 exchanges offer taxpayers an opportunity for big savings on income taxes. Know the risks: Few good things ever come easy, and 1031 exchanges are no different. One of the biggest risks is structuring a transaction with a related party. Next Steps: Taxpayers can often mitigate the risks…

Read More

Double Edged Sword – International Taxation Proposals Under The Recent Build Back Better Act May Result in Increased Tax and Compliance Challenges

At a glance The main takeaway: The latest version of the Build Back Better Act (BBBA), if passed, will modify the cross-border provisions enacted with the Tax Cuts and Jobs Act in 2017 (TCJA). Some of these changes may benefit certain taxpayers with cross-border income and activities, while others will see tax increases resulting from fewer…

Read More

Before Offering Cryptocurrency as a Payment Option, There Are Pros and Cons to Consider

wooden blocks one plus, one minus

At a glance The main takeaway: Given its recent surge in popularity, businesses and banks may be considering accepting cryptocurrency as a form of payment from their customers. Impact on your business: Though there are several benefits to accepting cryptocurrency from a competition and customer satisfaction perspective, the decision also comes with risks you need to plan…

Read More

What Upcoming Tax Legislation Might Mean For You, Your Business, and Your Estate Plan

new tax laws montage

At a glance The main takeaway: House and Senate Democrats are debating and modifying President Joe Biden’s tax proposals with a view toward passing legislation as part of the budget reconciliation process. Each of the competing proposals contain tax increases, including rate changes, new or restored limitations on deductions and the likelihood of increased IRS enforcement.…

Read More