Whether you’re a partner or an associate in a law firm, the IRS has rules that apply specifically to you as well as several opportunities. Following is a list of tax provisions that affect attorneys in particular. Tax Benefits for Partners The following deductions and benefits pertain to partners in a law firm: Home office… Read more

The IRS announced that they will be keeping a watchful eye on certain land donation deals that receive significant tax deductions. This pronouncement was disclosed in IRS Notice 2017-10 and later modified by IRS Notices 2017-29 and 2017-58. Taxpayers who are involved with land donation deals known as syndicated conservation easements will be under a… Read more

‘Tis the season for giving! In a recent announcement, the IRS presented the highly-anticipated final regulations on gift and estate tax exclusion amounts made between 2018-2025, confirming there will be no clawback after the exemption amount sunsets. The IRS and the Treasury Department have established that taxpayers who take advantage of the $11 million (indexed)… Read more

As we continue to expand our digital footprint, it is important to incorporate our digital lives into an estate plan so our digital legacy may be preserved. Some call these instructions a “digital will.” This set of instructions is a section of your estate plan that covers email addresses, social media accounts, passwords, website login… Read more