Insightsstream of knowledge
The Anchin Construction & Development Forum is a premium conference that brings together the Tri-state area’s senior development and construction executives to translate key challenges into profitable opportunities, as well as explore emerging trends influencing and disrupting the industry. Read More
Anchin is proud to present another installment of our semi-annual CPE for CFOs sessions. Read More
If any of these items apply to your company, please provide a copy to the person responsible for overseeing your payroll tax operations. Please don't hesitate to call us if you have any questions. Read More
- Decanting an Irrevocable Trust in Need of Change10/31/2018
Over time, the terms of an irrevocable trust may no longer be applicable to an individual or family’s current situation. While irrevocable trusts are typically created with the intent of remaining unchanged, trustees may also have the option of decanting a trust when it makes sense. To decant a trust, a trustee distributes assets from one irrevocable trust into a new irrevocable trust that contains modified terms. This may be beneficial for when the terms of a trust have become outdated.
- Key Considerations for Settling a Loved One’s Estate10/31/2018
The loss of a loved one is an emotionally taxing event. While family and friends come together to grieve and support one another, a death also prompts action for settling of the estate. A family member may end up as the executor or executrix but not have the professional background that would lend itself to the role. Considering the following items will help alleviate some of the difficulties that may arise when executing an estate.
- Use the Proper Tools to Fix a Broken Trust10/31/2018
An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves its original purpose? Is it too late to change it? Depending on applicable state law, there may be options to fix a broken trust.
- Opportunity Zone Proposed Regulations Issued: What Was Answered10/22/2018
On October 19, 2018, the Treasury released proposed regulations relating to the Opportunity Zones. These regulations may be relied upon by taxpayers until final regulations are published. The proposed regulations help clarify some of the ambiguities/questions that were inherent in the TCJA with respect to Opportunity Zones. Taxpayers now have guidance to rely on to help start investing in Opportunity Zones.
- Avoiding Double Taxation from Selling a C-Corp – Not Easy but Possible10/15/2018
When the owner of a C-Corporation sells their business for a profit, the profits will be taxed twice: once at the corporate level and again when money is distributed to the owner/shareholders as a dividend. However, in some circumstances there may be a way to avoid the double taxation. It’s a difficult strategy to pull off but could be possible under the right conditions.
- Finally Some Digestible Meal and Entertainment Guidance10/3/2018
On October 3rd, the Internal Revenue Service released Notice 2018-76 providing transitional guidance on how the Tax Cuts & Jobs Act changes to the deductibility of Entertainment expense affects the 50% deductibility of business Meals that taxpayers and professionals had been hungering for. While the guidance is transitional, it provides clarity on some of the issues we had previously provided comments on:
- Industry Experts Address NYC Transportation and Infrastructure at Anchin’s 13th Annual State of the Construction Industry Event 10/2/2018
On Friday, September 28, leading New York City based construction accounting, tax and consulting firm Anchin hosted its 13th annual State of the Construction Industry Conference, “Building the Future: The Evolution and Impact of Transportation and Beyond,” at the Yale Club in midtown Manhattan.
- More than Historians10/1/2018
Almost by definition, most accounting firms are historians, simply reporting the results of a client’s recent past. But that’s not even half the job, according to Marc Federbush, leader of the Fashion Group at New York City-based accounting and advisory firm Anchin.
- State of the Construction Industry Event 20189/28/2018
Photo Gallery for the State of the Construction Industry Event 2018 held at The Yale Club
- Philanthropy and Tax Reform: Is it Advantageous to Accelerate Contributions?9/27/2018
The Tax Cuts and Jobs Act, signed in December 2017, raised questions about how charitable gifts can be deducted. With the standard deduction limits for individuals and married couples nearly doubled under the new law, the financial incentive to donate has largely disappeared for most families.