Tax Planning Tips & Resources

Equity compensation can be a powerful wealth-building tool, but it also comes with some of the most common and costly tax surprises we see each year. As December approaches, employees with RSUs, stock options, and ESPPs often find themselves blindsided by unexpected tax bills, underpayment penalties, or missed planning opportunities. If you’ve received equity this year or exercised options, sold company stock, or had a big vesting event, this is your chance to get ahead of the year-end crunch.

IRC Section 1202 provides one of the most powerful tax benefits in the U.S. Internal Revenue Code (IRC) to entrepreneurs and investors. Section 1202 provides an exclusion from taxation to a qualified investor of up to $10-15 million of capital gain or 10 times the stockholder’s adjusted cost basis, whichever is greater, upon the sale of Qualified Small Business Stock (QSBS). Why is the range of potentially excluded capital gain between $10-15 million? A look back at past and more recent legisla

On July 4th, 2025, President Trump signed the "One, Big, Beautiful Tax Bill" into law, following passage by both the House and the Senate. The Senate passed the bill on Tuesday, July 1st, 2025, by the narrowest possible margin—51-50—with Vice President J.D. Vance casting the tie-breaking vote. The House subsequently approved the Senate version without amendment, sending the bill to the President just in time for his self-imposed July 4th deadline. We have prepared a comprehensive chart below th

For high-net-worth families with significantly appreciated art collections, estate planning can fall short of optimizing both legacy and tax efficiency. Enter upstream planning, a lesser known but highly effective strategy that leverages a senior family member’s unused estate tax exemption to minimize capital gains tax on appreciated artwork (or other low basis assets). When executed properly, this approach can result in a full basis step-up, effectively eliminating capital gains tax exposure o

Donating significant works of art to museums is a commendable act, enriching public access to culture and often forming a key part of a family’s philanthropic legacy. For many collectors, the available income tax deduction is also an important consideration. However, the path to securing that deduction is paved with complex IRS rules, particularly concerning valuations and appraisals. A recent U.S. Tax Court decision, WT Art Partnership LP v. Commissioner, T.C. Memo. 2025-30, highlights just ho

Many people don’t think about art as a traditional asset such as cash, securities, or real estate. However, art collections are often quite valuable and can make up a significant portion of your entire estate. Art collectors may own art for many reasons – some have a passion and love for art, some own an art collection to decorate their homes, and others own art strictly as an investment. Some art collectors may be artists themselves, creating works as a source of income. They also may create a

As a couple in your mid-30s, reviewing your tax return is more than just a yearly chore. It’s an opportunity to take control of your finances, identify savings opportunities, and plan for future goals. Here are key areas to focus on to ensure you're optimizing your return while staying compliant with tax laws. 1. Filing Status Your filing status significantly impacts your tax liability. Married couples can choose between Married Filing Jointly (MFJ) or Married Filing Separately (MFS). MFJ: Thi

With the tax season fast approaching, you may have questions about how your trust is taxed, who is responsible for tax filings, or how trust income taxes get paid.

As you begin to think about selling your business, excitement about what your life will look like after the sale may be tempered by the reality of a significant capital gain recognition event. One way to manage some portion of the potential income tax consequences of a sale is through philanthropy. Thoughtful charitable planning may provide both meaningful capital gain management and an opportunity to give back to the community that allowed you and your business to thrive. You may make a charit