Here’s a sampling of some significant tax law changes going into effect this year: Increase of the Section 179 expensing limit to $2.56 million and the phaseout threshold to $4.09 million (up from $2.5 million and $4 million, respectively, for 2025). Expansion of the income ranges over which the Section 199A qualified business income deduction […]
Until recently, much tax uncertainty surrounded estate planning. The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption to an inflation-adjusted $10 million, but only for 2018 through 2025. Fortunately for those with larger estates, in 2025, legislation was signed into law that increases the exemption to $15 million for 2026, […]
You have until April 15, 2026, the tax filing deadline, to make 2025 contributions to an IRA. If you’re seeking more than the traditional mix of stocks, bonds and mutual funds, a self-directed IRA offers greater autonomy and diversification. But it also introduces added complexity. Put investment decisions in your hands A self-directed IRA is […]
Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met. But if you can qualify for the real estate professional exception, you may be able to turn otherwise suspended losses into immediate tax savings. The […]
Sasserath & Co. Managing Partner Alan R. Sasserath is a recognized leader in taking both Long Island and international businesses to the next level. Sasserath’s technical experience includes working with high-net-worth individuals and closely held businesses, dealing with matters related to both domestic and international tax. His industry experience includes working with companies in the technology, […]
While the One Big Beautiful Bill Act (OBBBA) extends or enhances many tax breaks for businesses, it ends some clean energy tax incentives. Fortunately, your business may still benefit from certain clean energy breaks if it acts in the first half of 2026. Make building improvements The Section 179D deduction allows owners of new or […]