Accounting

Estate Planning

From Super Bowl commercials to teenage NFT millionaires — and even Elon Musk’s support of the dog meme-inspired currency Dogecoin — cryptoassets have been making a play for mainstream acceptance. By the end of 2021, the global cryptocurrency market was worth more than $3 trillion, up from $14 billion just five years earlier. About 16%

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n June of 2019, the Supreme Court heard arguments in a case where the State of North Carolina levied an income tax on a trust beneficiary. The trust had no connection to the State of North Carolina except for the residence of a beneficiary. The beneficiary was not the trustee and had no power over

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We would like to share with you the final regulations regarding the exclusion amounts when computing federal gift and estate taxes. See below for a summary of the changes, and follow the link for more information. If you have any questions regarding gift and estate taxes, please contact our office! Background. Generally, gift and estate

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Limit Type 2020 2019 Maximum Employee 401(K) or 403(b) Deferral $19,500 $19,000 Employee Catch-up Contributions $6,500 $6,000 Maximum Contribution to Defined Contribution Plan $57,000 $56,000 Maximum Benefit in a Defined Benefit Limit $230,000 $225,000 Annual Limit on Compensation $285,000 $280,000 Highly Compensated Employees $130,000 $125,000 Social Security Wage Base $137,700 $132,900 Annual IRA Contributions $6,000

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Navigating retirement planning can be challenging but it is crucial especially as life expectancy in the U.S. steadily increases. To address the need for our wealth to finish the race with us, the House recently passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act. This legislation, receiving almost unanimous bipartisan support, offers the

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Limit Type 2019 2018 Maximum Employee 401(K) or 403(b) Deferral $19,000 $18,500 Employee Catch-up Contributions $6,000 $6,000 Maximum Contribution to Defined Contribution Plan $56,000 $55,000 Maximum Benefit in a Defined Benefit Limit $225,000 $220,000 Annual Limit on Compensation $280,000 $275,000 Highly Compensated Employees $125,000 $120,000 Social Security Wage Base $132,900 $128,400 Annual IRA Contributions $6,000

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