Remember that rollercoaster ride we all thought was over? Well, buckle up—because the Beneficial Ownership Information (BOI) saga just took another wild turn. An appeals court recently reinstated an injunction that halts BOI enforcement (yes, again). If your head is spinning trying to keep track, you’re not alone. The Headline Drama, in Plain English A...
Dear Clients, On December 23, 2024, the United States 5th Circuit Court of Appeals granted FinCEN’s appeal to lift the injunction placed by the United States District Court for the Eastern District of Texas earlier this month. As a result, the Beneficial Ownership Information (“BOI”) reporting requirement under the Corporate Transparency Act (“CTA”) is...
As Abeles & Hoffman, P.C. marks another milestone, we are thrilled to celebrate the remarkable 45-year careers of two of our founding partners, Ronald G. Abeles and Stuart Z. Hoffman. Their journey together, rooted in vision, dedication, and an unwavering commitment to excellence, has shaped not only our firm but the careers of countless professionals...
Tax season can be stressful, especially if you’re worried about penalties. Whether you’re an individual or a small business owner, IRS penalties can add up quickly, turning a simple oversight into a costly mistake. Understanding what triggers these penalties—and how to avoid or reduce them—can save you time, money, and frustration. In this article, we’ll...
What do you get the wealthy client who has everything? The answer, according to savvy money managers, might surprise you: a loss-making investment. This seemingly counterintuitive strategy is the basis for Wall Street’s latest tax-saving innovation—tax-aware long-short strategies. These approaches are gaining traction among the ultra-wealthy, combining hedge fund tactics with personalized portfolio management to...
Retirement is your reward for a lifetime of hard work, but keeping more of your savings in retirement requires strategy. Many Baby Boomers unknowingly leave tax dollars on the table by missing out on tax-savvy moves. You’ve built up a lifetime of savings—now it’s time to make sure they work for you. Let’s break down...
As tax professionals, we know that changes in leadership often bring shifts in tax policy, affecting everything from deductions and exemptions to estate taxes and business regulations. With President Donald Trump’s recent re-election, we may see updates to tax policy based on his prior administration’s actions and new proposals. For individuals and businesses alike, understanding...
As the year draws to a close, it’s crucial to take stock of your financial situation and make strategic moves to minimize your tax liability. With a little planning and foresight, you can take advantage of various tax-saving opportunities. Here are some last-minute strategies to consider before the year ends. Itemizing Deductions and Medical Expenses...
As the year draws to a close, small business owners have a unique opportunity to implement strategies that can significantly reduce their tax liability for the upcoming year. By taking proactive steps in the final months, businesses can not only minimize their tax burden but also streamline their financial operations. Here’s a comprehensive guide on...
Dear Valued Clients and Friends of the Firm, We want to share and remind you of a valuable opportunity available for St. Louis County residents aged 62 and older—a real estate tax freeze on your 2025 real property bill and beyond! If you or someone you know qualifies, this program can help lock in your annual...