Friedman + Huey is committed to keeping our clients up-to-date on the issues that impact them the most. From general accounting news, to regulatory updates that affect high net worth individuals and estates, we’ve got you covered.
Have Vacation Rental Property? Check Out These Tax Strategies
Buying property and selling after it’s appreciated is a wealth-building strategy that has been around for centuries. It’s even better if that property can make you money through rental income.
7 Tax Strategies That Save Small Businesses Money
Taxes are a constant for any business. Planning for your taxes is an important business function that allows you to make decisions to maximize your tax deductions and save your business on taxes.
Some Fear The Great Resignation; What About The Great Reconsideration?
Have you heard about The Great Reconsideration? If not, it’s a real thing, and it’s something you need to evaluate if you’re closing in on retirement or thinking about doing so early.
Reading the Tax Tea Leaves: Proposed Retirement Plan Changes in SECURE Act 2.0
The U.S. House of Representatives recently passed Securing a Strong Retirement Act, H.R. 2954, also called the SECURE (Setting Every Community Up for Retirement...
Is a Pass-through Entity Tax Election Right For You? The Deadline to Decide is Fast Approaching!
If you are a partner in a partnership or a shareholder in an S Corporation, did your entity consider a pass-through entity tax (PTET) election as part of its 2021...
How Strategic Is Your Estimated Tax Payment Game Plan?
Many people mistakenly believe tax withholding will be adequate and possibly guess at a “cushion” for estimated quarterly tax payments. A second mistake is thinking the IRS means what they say in using the term “quarterly.” If only it were that straightforward.
Lost Property: The Unintended Tax Consequences
Many people are fortunate enough to have their valuable collections (whether it be art, coins, baseball cards, etc.) covered by insurance; however, they need to consider the unintended tax consequences of how they spend their insurance proceeds.
New Pass-Through Entity Tax Legislation
Pass-Through Entity Tax A bill proposing significant changes to the Illinois tax code, including the creation of a pass-through entity tax, has been passed by Illinois...
What’s Up With Wealth Tax Legislation?
US Senator Elizabeth Warren is circling back on one of her key presidential campaign pledges that targets the wealthiest of the wealthy. Instead of...