The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

Tax Cheer for Holiday Gifts to Employees

Many business owners give gifts and achievement awards to show their appreciation for employee contributions throughout the year. But some gifts could trigger unexpected adverse tax consequences. Here’s what you need to know before making year-end gifts to employees, customers and other business contacts, including how the rules have been clarified under the Tax Cuts and Jobs Act.

Read on CBD Spotlight >

Estate Tax Planning Tips for Married Couples

The Tax Cuts and Jobs Act significantly increased the unified federal estate and gift tax exemption and the generation-skipping transfer tax exemption. As a result, fewer estates will be subject to the 40% estate and gift tax rate. But for many people, there are still good reasons to draft or review their estate plan before year end. Here are some proactive planning moves for married people to consider.

Read on CBD Spotlight >

IRS Ups the Ante on Retirement Contributions

Did you know that you will be able to contribute more to your 401(k), IRA and other types of qualified retirement accounts in 2019? The IRS recently published annual cost-of-living adjustments to these accounts. Many limits have increased, including the amount you’re allowed to contribute to a traditional IRA account, which last increased in 2013. Here’s what you should know.

Read on CBD Spotlight >

4 Year-End Strategies to Lower Your Personal Tax Bill

Have you thought about your personal tax situation for 2018? In addition to reviewing the adequacy of your payroll withholdings and estimated tax payments, there’s still time to employ some tax-savvy moves that could potentially decrease this year’s tax bill. Tax reform legislation has changed the rules of the game, so it’s important to discuss end-of-year strategies with your tax advisor as soon as possible.

Read on CBD Spotlight >

Are You Eligible for the New Dependent Credit and HOH Filing Status?

The IRS recently clarified who’s eligible for the new $500 tax credit for dependents who aren’t qualifying children under age 17, as well as how much income those individuals can earn each year without negating the credit. The income test is also relevant if you’re unmarried and want to use the beneficial head of household (HOH) filing status. Here are the details.

Read on CBD Spotlight >

Small Employers: Should You Jump on the MEP Bandwagon?

Congress and the U.S. Department of Labor are working on rules that would make it easier for small employers to join multiple employer plans (MEPs). These defined contribution plans are designed to help American workers save for retirement. MEPs are expected to lower administrative costs, but do they offer the simplicity that employers want? Here are some issues to consider.

Read on CBD Spotlight >

Can You Have Too Much Tax Deferral?

Deferring income is a conventional tax planning strategy for businesses and individuals alike. It’s especially effective when your tax bracket is expected to remain the same or decrease in future years. But under the Tax Cuts and Jobs Act, deferring too much income might be inadvisable. Here’s why it’s important to think twice before you defer income under today’s tax law.

Read on CBD Spotlight >

5 Ways to Boost Deductions for Charitable Giving

Are you feeling generous? The holiday season is a popular time to donate to charities. But many people are uncertain about whether they’ll be allowed to deduct charitable contributions on their 2018 federal income tax return. This article reviews the provisions of the Tax Cuts and Jobs Act that may affect charitable giving and provides strategies to maximize the tax benefits.

Read on CBD Spotlight >