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Section 1061 of the Tax Cuts and Jobs Act imposes a new three-year holding period for gains derived by a partnership that are passed through to the holder of a carried interest to qualify as long-term gains. This change is effective for any allocations of income or sales of carried interests on or after January 1, 2018, and it applies to newly-gran...

Much has been written comparing the administrative, financial, and programmatic criteria of private foundations and donor advised funds. It is often presented as an “either/or” choice. It’s important to know that the two can be used in tandem to achieve complementary goals of families and other donors. Some examples are illustrate...

Every year during tax season the Internal Revenue Service (IRS) releases the “Dirty Dozen” list of tax scams. With the increased number of data breaches, it is important to remain vigilant when sharing your personal data and responding to demands for tax payments. Here are some tips to help you avoid tax scams and identity theft.

The Tax Cuts and Jobs Act was signed into law in December and made sweeping changes to many laws affecting tax-exempt organizations. Several changes combined to eliminate the tax incentive for many taxpayers to make charitable contributions. With anticipated declines in contributions, charities may be looking for more creative sources of fundraisin...

The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years. She has lots of wisdom for parents an...

Have you ever been asked to manage another person’s property and finances? Perhaps a family member named you as agent under a durable power of attorney, so that you can manage his finances if he becomes disabled. Maybe an elderly neighbor added your name to her bank accounts because physical limitations prevent her from leaving the house and ...

The purpose of the New Markets Tax Credit (NMTC) program is to attract private investment to communities lacking adequate access to capital and experiencing vacant commercial properties, outdated manufacturing facilities and/or inadequate access to education, health care, healthy food and other basic social services. Different Community Development...

Life is more complicated for families who have a loved one with a disability. The process of developing an estate plan requires the ability to navigate the confusing and often counter-intuitive rules of government benefit eligibility, and being intimately familiar with the circle of doctors, diagnoses, therapies, and services that will be available...

It's a pivotal time for Single Family Offices, with more and more reviewing their structure and operations to minimize risks. In this roundtable discussion, experts share how Single Family Offices are evolving and addressing new risks and risk mitigation strategies.

The Tax Cuts and Jobs Act of 2017 is sweeping in its reach, and divorce situations are not immune from its influence. The new tax law changes the tax treatment of alimony for both the payer and the recipient. For divorces finalized prior to January 1, 2019, this new tax treatment will not apply and will be grandfathered under the rules of the prior...

Over the past year, the improved picture of the financial services community has been predicated on rising interest rates, strong financial conditions, modest inflation and an overall improving economy. Recently, a flattening yield curve has fostered concern about a premature end to the positive business cycle. However, things are not quite what th...

As part of federal tax reform, Congress created a new “Qualified Opportunity Zone” program to encourage investment in businesses that are located in low-income communities. Under this program, a taxpayer who recognizes gain on the sale of property (including, for example, investment assets such as stock or other security interests, and ...

While laws in the United States generally allow trust property to be protected from the creditors of beneficiaries, there has traditionally been an exception to these protections where property in a trust is derived from a beneficiary’s own contributions to the trust. In rejecting this traditional rule, some states have modernized their laws,...

Housing demand in the United States remains brisk even as issues with supply and affordability mount, particularly in the West. Solid sales and consumption are forecasted throughout the economy this year, with housing starts sustained near their current level of 1.25 million at an annualized pace. The Real Economy also offers a look at government r...

As Artificial Intelligence (AI) gets more sophisticated and weaves further into the fabric of human existence, what are the implications for work and society? How will AI, its evolution, and some of its potential future mind-bending possibilities impact investors? While the answers are beyond the reach of a single article, having a better understan...