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Taking affirmative steps to move one’s property and connections out of their old home is critical to avoiding undesired consequences, such as dual domicile treatment or taxation by another state. This checklist identifies primary and secondary factors that should be considered when establishing domicile in a new state for income tax purposes.

While there are many items family offices should look for in technology solutions, one vital component is reporting capabilities. For family offices considering a move to Sage Intacct, there are five reporting advantages you can count on to help deliver the data and transparency that are important to the family members.

From Australia to United States and many places in between, this Global Employer Guide reflects an easy-to-read summary of employment law that changed in each country over the past year, including pandemic-related changes where applicable. Visa processes, employee rights, contract requirements, transfer of business considerations, privacy standards...

While the concept of estimated taxes is not overly complicated, there can be confusion around the actual tax payments and how it works. According to the IRS, “the U.S. tax system operates on a pay-as-you-go basis.” But what does that actually mean for American taxpayers? With the breakdown of the basics of estimated taxes, learn how it applies to a...

Families hire family office staff with the expectation that the office keeps their information, assets, and reputation protected. To safeguard the families’ interests, it’s critical for family offices to ensure that internal controls take the pragmatic approach, starting with four main areas: segregation of duties, transaction volume, managing comp...

Cyber security is a subject that continues to make headlining news. Because every business is at risk of a cyberattack, it’s important to know what types of threats your business could be subject to and understand the techniques you can implement to help prevent attacks from happening.

Over the past 15 years, the IRS has attempted to ramp up its scrutiny of wealthy individuals. With billions in new funding promised under the Inflation Reduction Act, the IRS has announced additional tax enforcement efforts focused on the wealthiest filers, including high-income individuals, partnerships, and large corporations. Attorney Erin Lasen...

U.S. tax and information reporting obligations have become an increasing concern for international families and their succession planning structures. Missed or late filings can result in steep penalties, even when no tax is due. The Foreign Account Tax Compliance Act (FATCA) is alerting the Internal Revenue Service (IRS) to income and accounts held...

Being a fiduciary for your organization’s retirement plan doesn’t have to be complicated or overwhelming. However, it does require careful oversight to mitigate risk and help participants meet their retirement goals. With the use of this checklist that should be reviewed on an annual basis, employers can better manage their retirement plan responsi...

Cryptocurrency has revolutionized the financial markets but also created tax traps for the unwary investor. Building on proposed regulations issued in 2023, the IRS has increased its oversight of cryptocurrency transactions by requiring brokers, beginning in 2025, to report investor sales and exchanges in connection with such transactions. Taxpayer...

When considering the various aspects of managing family wealth from a tax perspective, it’s useful to have a list of “tax Do’s and Don’t’s” on hand to help ensure that no tax planning opportunities nor implications are missed. In this summary of tax items that are commonly overlooked or misunderstood, it can serve as your checklist and a good start...

The IRS has released the 2025 cost-of-living adjustments for pension and 401(k) plan limitations. The indexed amounts for 2022 to 2025, and other commonly used limits are listed in this summary. The highlights for 2025 include: (1) the Internal Revenue Code (IRC) Section 415(c) contribution limit applicable to defined contribution retirement pla...

More than six years have passed since the Tax Cuts and Jobs Act of 2017 (TCJA) brought sweeping changes to the U.S. international tax landscape. Congress continues to balance taxpayer demands for long-overdue guidance on how to address the Pillar Two initiative of the Organization for Co-operation Development. Moreover, taxpayers continue to ...

State legislatures faced a growing number of budget shortfalls to begin fiscal year 2025 as lower tax collections and a slowing economy curtailed the pandemic-era revenue boom. However, tax increases were rarely in the discussion. Budgets were balanced, and some states still have managed to cut taxes. Regardless of what occurs in statehouses, taxpa...

This tax planning guide was developed to help you think through opportunities and other considerations for you and your family during the remainder of 2024 and into 2025. The guide will help you evaluate and optimize the tax impact of changing market conditions and new policy developments. For additional tax planning guidance and insights,...