Talley LLP

For individuals with highly appreciated assets seeking tax-efficient wealth transfer strategies, charitable remainder trusts (CRTs) can be a valuable tool. These trusts allow donors to support a nonprofit, provide income to a beneficiary, and benefit from tax advantages, making them a compelling addition to a well-structured estate plan.

Succession planning is crucial for ensuring the longevity and stability of any organization. Yet, many businesses fail to prepare adequately for leadership transitions, leading to disruptions, loss of revenue, and damaged reputations. By studying real-life failures in succession planning, organizations can identify common pitfalls and take proactive measures to avoid them. Here are the key lessons learned from notable missteps in succession planning.

Scalability is the holy grail of entrepreneurship. A scalable business model enables your company to grow without proportional increases in costs, allowing you to expand efficiently and maximize profits. Building a scalable business requires careful planning, strategic execution, and a forward-thinking mindset. Here’s how entrepreneurs can develop a business model designed for long-term growth and success.

In today’s fast-paced business environment, staying on top of your finances is more critical than ever. Real-time accounting, which involves continuously updating and accessing financial data, has revolutionized the way small businesses manage their finances. Unlike traditional accounting methods that rely on periodic updates, real-time accounting provides up-to-the-minute financial insights. Here’s how this modern approach can benefit small businesses and help them stay competitive.

Estate planning is an essential part of securing your legacy, protecting your loved ones, and ensuring that your wishes are honored. Yet, many people delay this critical process or overlook key components, leading to costly mistakes that can create unnecessary stress for family members. A well-structured estate plan provides peace of mind and financial security. To help you navigate the process, here’s the ultimate estate planning checklist to avoid common pitfalls.

President Donald Trump recently met with Republican lawmakers to outline his tax policy goals for the year, including potential changes to deductions, tax breaks, and business taxation. Among the priorities discussed were adjustments to the carried interest tax treatment, changes to the state and local tax (SALT) deduction, and various tax relief measures aimed at workers and businesses.

The capital gains tax has long been a topic of debate due to its potential to stifle innovation, economic progress, and retirement savings. By reducing the rewards for successful risk-taking—an essential driver of growth—this tax hinders capital formation and reduces incentives for investment.

A succession plan is one of the most critical, yet often overlooked, components of long-term business strategy. Whether you’re running a small family business or managing a large corporation, having a well-thought-out plan for leadership transition is essential. Without one, your business risks disruption, loss of talent, and even potential failure. Here’s why every business needs a succession plan and how you can start building one today.

House Republicans are actively discussing raising the state and local tax (SALT) deduction cap, with support from President Donald Trump and congressional leaders, as part of broader negotiations for a must-pass tax bill this year. Currently capped at $10,000, the SALT deduction limits the amount taxpayers can deduct for local income and property taxes from their federal tax returns. Representatives from high-tax states like New York, New Jersey, and California are pushing to increase the cap to provide relief for constituents burdened by higher property values and tax rates.

House Republicans from high-tax states such as New York, California, and New Jersey are urging adjustments to the state and local tax (SALT) deduction cap, describing recent discussions with President-elect Donald Trump as “positive” but without firm commitments. The $10,000 cap, part of the 2017 Tax Cuts and Jobs Act, has been a point of contention for representatives from states with high property values and tax rates.