Justin Gilmartin, JD

With a divided Congress and the 2024 elections on the horizon, it is unlikely that we will see any major federal tax legislation in the immediate future. In turn, the approaching sunset of many individual tax provisions of the Tax Cuts and Jobs Act of 2017 (“TCJA”) looms large....

For the past two years we have prepared for the potential passage of major tax legislation. Due to razor-thin margins in Congress, however, the sweeping proposals of the Build Back Better Act have given way to the more modest Inflation Reduction Act (the “Act”). Now, with the midterm elections...

“Sometimes the best move is not to make any move,” says Justin Gilmartin of The Colony Group to Cheryl Winokur Munk via Barron’s. Read...

Last year at this time we were faced with uncertainty regarding potential tax-related changes, preparing for potentially massive changes to the income and estate tax rules. The proposed tax changes ultimately became part of a bill called The Build Back Better Act (“BBBA”). Throughout the summer and into fall...

The Biden Administration has proposed sweeping changes to the tax code that could affect your taxes in many areas, including personal income, employment, estate, gift, and corporate taxes. With the Senate split 50-50, are these changes likely to happen, and, if so, when? How should you prepare your family...

Last week, Congress passed a $900 billion relief bill called The Consolidated Appropriations Act, 2021 (the Act).  The legislation was signed into law by the President on Sunday, December 27, 2020.  Here are some of the key provisions. Expenses Funded by Forgiven PPP Loans Are Now Tax Deductible Ever...

The many challenges of 2020 have of course been exacerbated by the heightened uncertainty surrounding them. While the human challenges remain the most critical, from a financial-planning perspective, many were hoping that the 2020 elections would at least provide a clearer direction of where tax policy is headed. Instead,...

With the election just around the corner, we thought it would be helpful to alert you to some of the tax planning ideas we are currently considering for clients. Normally, year-end tax planning is focused on one simple concept: defer income and accelerate deductions. This year, however, the opposite...

It has now been almost two years since the Tax Cuts and Jobs Act (TCJA) passed at the end of 2017.  The stated intention of the TCJA was to simplify the tax code by lowering the base rates and eliminating many longstanding deductions. While the base rates are lower,...