News & Resources

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about one common situation. Working from home. Many employees have been told not to come

On August 28, the IRS issued guidance that provides some explanation of how employers can defer withholding and remitting an employee’s share of Social Security tax when wages are below a certain amount. The guidance

Under ordinary circumstances you may become a statutory resident of a state if you are physically present in that state for 183 days or more. Meanwhile, your state of permanent domicile may not change, thereby

Last week, Tax Partner, Kate Rooney, shared an example of a taxable 529 Plan distribution. Now that we have answered some FAQs and provided an example, let’s see what a 529 Plan looks like in

What does the executive action deferring payroll taxes mean for employers and employees? On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from

Last week, Tax Partner, Kate Rooney, answered “What are some cautionary flags to be aware of with 529 Plans?”. Today she’ll share an example of a taxable 529 Plan distribution. With today’s circumstances, you may

In February, Tax Partner,  Kate Rooney started sharing insights from one of her presentations on 529 Plans. Previously, Kate had answered, “Should high net-worth individuals consider 529 Plans even if they can afford to cash

COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills. If

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. Fair market value rules Under the fair market value basis rules (also known

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify? In