Smolin Service AreasPlanning opportunities for you and your business

For many people, paying 2020 taxes is more pressing right now than figuring out their 2021 tax situation. That makes sense! Your 2020 return is due in April—and the 2021 review is still a long way off.  If you want to be ahead of the game, however, it’s still smart to get familiar with the

Many tax-related limits affecting businesses are changed annually to account for inflation, and many have increased for 2021. Some, however, have stayed low, and there’s more good news: the deduction for business meals doubled for this year. Here’s what you need to know.  Social Security changes There was a change in the amount of earnings

The small print on your company’s financial statements give investors and lenders insight into knowledge that’s vital to business and investment decisions. These footnotes include account balances, accounting practices and potential risk factors. Make sure your footnote disclosures cover these areas.  1. Transactions with related parties If companies may employ friends or relatives (or give

It might not sound that exciting, but in estate-planning terms, “tangible personal property” contains jewelry, antiques, photographs and collectibles. Sentimental value can make these difficult to plan for. If you’re not careful, arguing among your family members over these items can lead to hurt feelings, and even litigation. Clear communication You shouldn’t have to guess