Self-dealing is one of the most important IRS rules for family foundations. Learn what it means, who qualifies as a disqualified person, and how to stay compliant while managing your foundation responsibly.

Are family foundations only for the ultra-wealthy? Not necessarily. Many high-income individuals and families can benefit from establishing a Family Foundation — both to maximize tax savings and to give back to their communities in a meaningful way. In this post, we’ll outline who qualifies to start a Family Foundation, how your income and assets factor into the decision, and the key tax advantages that make it worthwhile.

Starting a family foundation is an exciting step toward making a meaningful impact through charitable giving. In this post, we’ll walk you through the key steps required to establish a foundation and obtain 501(c)(3) tax-exempt status. Whether you're planning to go the DIY route or enlist professional help, this guide will give you a clear understanding of the process ahead.

In the world of philanthropy and wealth management, family foundations stand out as powerful tools for making a lasting impact while enjoying significant tax benefits. As a tax accountant specializing in strategies for high-net-worth individuals, I've seen firsthand how these foundations can transform charitable giving into a multi-generational legacy. Let's dive into the world of family foundations and explore how they can benefit you and your family.

In the world of philanthropy and wealth management, family foundations stand out as powerful tools for making a lasting impact while enjoying significant tax benefits. As a tax accountant specializing in strategies for high-net-worth individuals, I've seen firsthand how these foundations can transform charitable giving into a multi-generational legacy. Let's dive into the world of family foundations and explore how they can benefit you and your family.

In today’s litigious society, professionals such as Certified Public Accountants (CPAs), lawyers, and doctors face significant risks every time they offer their expertise. Whether it’s a tax consultation, legal advice, or medical treatment, the stakes are high, and even the most competent professionals can make mistakes or face accusations of negligence. This is where professional liability insurance becomes indispensable. Also known as errors and omissions (E&O) insurance or malpractice insurance (in the case of healthcare providers), this coverage is essential for protecting your practice, reputation, and financial stability of the company or individual.

Permanent Life Insurance, however, is a powerful and often overlooked tax-saving tool that has the potential to act as an "Unlimited Roth IRA."

Tax filing in general has a very strict set of rules. However, those rules could be more complicated for foreign nationals.

In the investors’ world, “Cash is the King” is not only a slogan. It is a revered universal rule. Warrant Buffet, the ultimate investment guru and unarguably the most successful investor of the last century, is known to keep cash positions when he does not see a good buy. In the real estate investment world, the rule of the game is the same.

1031 Exchange is one of the most powerful tools a Real Estate Investor can use to defer taxes on Capital Gain. If used together with Step-Up basis tax code, you never have to pay taxes on any of the capital gains from real estate investment.

Bonus Depreciation and Cost Segregation has become the buzz words in the last few years, especially among real estate investors. What are they and what does it mean to you?

There is a well-kept secret among high earning professionals. Traditional high earners such as doctors and professors often have side businesses that not only generate extra income, but also serve as powerful vehicles for expense deductions, retirement savings and wealth transfer.

As a financial professional who has 30 years of practice in both tax & real estate businesses, I always tell my clients “Real Estate is the best investment under the current tax code”.

Tax filing in general has a very strict set of rules. However, those rules could be more complicated for foreign nationals.