3 essential estate planning strategies not to be ignored

Newburg | CPA Tax Brief (9/9/21) With most tax planning, there are certain strategies that are generally effective and shouldn’t be ignored. The same holds true for estate planning. Here are three essential estate planning strategies to consider that may help you achieve your goals. 1. Use an ILIT [...]

2021-09-13T12:46:28-04:00September 13, 2021|

Small Business Grants – City of Boston

Newburg | CPA (9/9/21) The City of Boston launched two Small Business grants for small businesses in the City of Boston to aid and support business owners and workers in their reopening and recovery from COVID-19. The Small Business grants include the following: Small Business Relief Fund 2.0 The [...]

2021-09-11T06:39:14-04:00September 11, 2021|

A tenancy-in-common interest can ease distribution of real estate

  Newburg | CPA Tax Brief (8/26/21) If your estate includes significant real estate investments, the manner in which you own these assets can have a dramatic effect on your estate plan. One versatile estate planning option to consider is tenancy-in-common (TIC) ownership. What is tenancy-in-common? A TIC interest [...]

2021-08-30T07:42:30-04:00August 30, 2021|

Scholarships are usually tax free but they may result in taxable income

Newburg Staff Writers (8/10/21) If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships) are generally tax free for students at elementary, middle and high schools, as well as those attending college, graduate school or accredited vocational [...]

2021-08-16T09:25:57-04:00August 16, 2021|

5 possible tax aspects of a parent moving into a nursing home

Newburg Staff Writers (8/3/21) If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical [...]

2021-08-12T15:01:39-04:00August 10, 2021|

New Massachusetts Legislation to Remedy SALT Limitations

Newburg Staff Writers (7/27/21) This July, Governor Baker has signed legislation as part of the 2022 Fiscal Year Budget allowing certain owners of pass-through businesses such as S-Corporations or Partnerships to elect to have their pass-through business pay an excise tax on their behalf and receive a Massachusetts tax [...]

2021-08-18T17:04:05-04:00July 27, 2021|
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