The Importance of Maintaining Corporate Minute Books

Corporations are legally required to hold an annual shareholder meeting and board of directors meeting. These meetings need to be documented in a minute book, which acts as a formal record of the corporation’s governance and decisions. While maintaining minute books might seem like an insignificant task, they are one of the most critical pieces...

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2025 Gift Tax Changes: What You Need to Know About New Limits 

Annually, the IRS updates the amount one can give free of federal gift and generation-skipping transfer (GST) tax to account for inflation. These adjustments impact the lifetime exclusion, which is the amount that one can give free of federal estate and generation-skipping transfer (GST) tax, either at lifetime or at death. The annual gift tax...

Charitable Planning: Choosing the Right Option for You

Charitable planning can take various forms, and the right approach depends on your goals and financial situation. Each option offers unique advantages, so selecting the best one is key to aligning with your philanthropic vision. Private Foundations A private foundation is a legal entity created by an individual, family or corporation to support charitable causes....

2024 Changes to Gifting Limits

Author – Peggy Lennon Each year, the IRS sets the amounts that one can give free of federal gift and generation-skipping transfer (GST) tax, to account for inflation. These adjustments impact the lifetime exclusion, which is the amount that one can give free of federal gift and generation-skipping transfer (GST) tax, either at lifetime or...

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