The recently passed One Big Beautiful Bill Act (also known as the Big Beautiful Bill) has brought a certain level of clarity to estate planning.
Key Estate Planning Updates from the One Big Beautiful Bill Act
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Your Money, Lost Then Found: How to Reclaim Forgotten Funds
Paley & Prehn, PLC Recovers $122,000 in Cash for Client
Why Now is the Right Time to Get Back on Track with Your Taxes
Although the IRS appears to be facing internal challenges, including funding shortages and staffing cuts, this creates a quiet window of opportunity for taxpayers to get caught up with fewer obstacles.
Exit Tax Explained: What You Need to Know Before Renouncing Your U.S. Citizenship
Expatriating from the United States involves more than a visit to the embassy and a signed statement. It can also trigger a complex and costly financial obligation known as the U.S. Exit Tax.
A Significant Small Estate Administration Law Change in California
Last September, lawmakers enacted Assembly Bill 2016 (AB 2016), which allows a decedent’s primary residence—or the sole residence owned by a decedent who was residing in a care or assisted living facility at the time of death—to be transferred outside of a full probate if the property’s value does not exceed $750,000.
Employee Retention Credit Voluntary Disclosure Program Now Open through November 22, 2024
Avoid significant penalties and future audits. This blog explores the essentials of the ERC Voluntary Disclosure Program, including eligibility criteria, audit preparation, and strategies to navigate potential tax penalties. Stay informed and protect your business—read on to learn more.
Beware of ERC Refund Traps
DISCLAIMER The material on this website is provided to the general public and is for informational purposes only. Information contained herein does not reflect the opinion of Paley & Prehn, PLC and should not be relied upon as legal advice. You should consult an...
Tax Scams Targeting High-Income Filers: The IRS Dirty Dozen 2024 Edition
High-income filers are prime targets for sophisticated tax scams that can lead to severe financial and legal consequences. From improper art donation deductions to complex schemes like Charitable Remainder Annuity Trusts (CRATs) and Monetized Installment Sales, scammers are constantly finding new ways to exploit the wealthy.