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In late 2017, the sweeping tax reform was passed in the United States and created incredible opportunities for estate planning for high-net-worth families. It also served as a good reminder to review your estate plan to be sure that it is consistent with your current goals and is flexible to promote tax efficiency under today’s tax laws&mdash...

The purpose of the New Markets Tax Credit (NMTC) program is to attract private investment to communities lacking adequate access to capital and experiencing vacant commercial properties, outdated manufacturing facilities and/or inadequate access to education, health care, healthy food and other basic social services. Different Community Development...

Life is more complicated for families who have a loved one with a disability. The process of developing an estate plan requires the ability to navigate the confusing and often counter-intuitive rules of government benefit eligibility, and being intimately familiar with the circle of doctors, diagnoses, therapies, and services that will be available...

The Tax Cuts and Jobs Act of 2017 is sweeping in its reach, and divorce situations are not immune from its influence. The new tax law changes the tax treatment of alimony for both the payer and the recipient. For divorces finalized prior to January 1, 2019, this new tax treatment will not apply and will be grandfathered under the rules of the prior...

As part of federal tax reform, Congress created a new “Qualified Opportunity Zone” program to encourage investment in businesses that are located in low-income communities. Under this program, a taxpayer who recognizes gain on the sale of property (including, for example, investment assets such as stock or other security interests, and ...

While laws in the United States generally allow trust property to be protected from the creditors of beneficiaries, there has traditionally been an exception to these protections where property in a trust is derived from a beneficiary’s own contributions to the trust. In rejecting this traditional rule, some states have modernized their laws,...

Families of wealth and business-owning families face security risks in their everyday lives, where personal and business risks are often blended and are typically managed by different people and processes. This creates a gap in identifying risks and solutions that can be addressed through a holistic and collaborative risk management approach. With ...

In today’s hyperconnected world, news headlines are filled with stories about identity exposure, data breaches and other major threats to your personal information and financial assets. This guide provides best practices, resources, and actionable advice to help you protect yourself or recover from a cyberattack.

Federal tax reform has potentially and perhaps unexpectedly increased the tax liability for families by destroying the deduction for investment expenses. However, the recent United States Tax Court decision on the Lender Management case may provide an opportunity for family offices to maintain deductibility for legitimate business expenses under th...

Many employers and family offices find performance reviews can be a challenging task. But with a new take—one that turns a performance review into a career conversation—it can become an opportunity to establish a healthy dialogue that provides space to exchange feedback, assess performance, and “take the temperature” of the ...

With the passage of the Tax Cuts and Jobs Act in late 2017, virtually all areas of federal tax law saw sweeping changes. As a business owner, it’s particularly important to understand how these changes can work to your advantage as you consider your tax planning under today’s new laws. Five strategies—including restructuring your ...

Are you maximizing protection when it comes to your online activity? Or do you open yourself to cyberattacks by clicking on links in promotional emails and allowing third-party applications to access your contacts and other personal information? To help identify areas where you might be at risk, follow the experts’ checklist of best practices...

Tax reform has created major changes and opportunities for high-net-worth taxpayers, particularly those who are real estate investors and developers. The creation of the Internal Revenue Code section 199A brings a new, advantageous deduction to those in the real estate business. For real estate owners, investors, and developers, the impacts are sig...

The Massachusetts Supreme Judicial Court recently ruled that a ballot initiative that would have had Bay Staters vote this November to raise the state income on its wealthiest residents is unconstitutional. The Fair Share Amendment proposal, dubbed by some the “Millionaire's Tax,” will no longer appear on the November ballot. For la...

1031 Exchange, commonly known as like-kind exchange, can be a smart tax strategy for business owners who also own or invest in real estate. Understanding seven basic fundamentals of a 1031 exchange will make you more informed to know if a 1031 strategy will fit into your overall tax and real estate plans. Watch the short video and learn the fundame...