Firm News & Updates

 

One-of-a-Kind Assets Require a Unique Valuation Approach

One-of-a-Kind Assets Require a Unique Valuation Approach

Problems can arise when valuing estates that hold assets produced by the personal or artistic efforts of a decedent. The assets of two deceased celebrities, singer Michael Jackson and writer J.D. Salinger, illustrate this point. Both celebrities reportedly owned...

Update on New Retirement Account Catch-Up Contribution Rules

Update on New Retirement Account Catch-Up Contribution Rules

The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought numerous changes to the retirement and estate planning landscape in late 2019. Congress followed up with the SECURE 2.0 Act in late 2022. This law introduced some additional...

What Are the Tax Implications of the New Lease Accounting Rules?

What Are the Tax Implications of the New Lease Accounting Rules?

Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. While the tax rules for leases haven’t changed, the new accounting rules can have notable implications for how the tax rules...