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Your estate plan may include several different trusts. The reason is that various types of trusts can accomplish a myriad of estate planning goals. Thus, it’s critical to understand the role of a trustee. The trustee’s duties The trustee is the person who has legal responsibility for administering the trust on behalf of the interested parties. Depending on the trust terms, this authority may be broad or limited. Generally, a...

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January 29, 2021

The massive economic stimulus and government spending law, which was signed on December 27, 2020, extends several energy-related tax breaks. Before the Consolidated Appropriations Act (CAA) was signed, these federal income tax breaks (often called “extenders”) were set to expire on December 31, 2020. Extenders are tax breaks that Congress has repeatedly allowed to expire before generally restoring them — often retroactively. Here are some of the tax credits extended in...

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January 05, 2021

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January 15 Pay the final installment of 2020 estimated tax. Farmers and fishermen: Pay estimated tax...

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January 04, 2021

Have you made any New Year’s resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter around the house. But you can also make New Year’s resolutions for your small business. Here are a dozen resolutions for small business owners to consider implementing to succeed in the future. 1. Be Realistic About Your Goals The start of a new year is often...

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January 01, 2021