My CPA, PA

📢 Important news regarding estate planning! The estate tax exemption is set to change in 2026 because of the sunsetting provisions in the Tax Cuts and Jobs Act (TCJA).

Though 2026 might feel like it's in the distant future, it's crucial to start planning now. These changes are significant, and even if Congress ultimately steps in to tweak or extend the current rules, preparing now is key.

Swipe through for the details on how this could affect you ↩️ Have questions? Feel free to reach out to our office. That’s what we’re here for.

Whether you're going out with loved ones or cozying up for an early night, we’re wishing you a wonderful end to 2023 and a spectacular start to 2024! 🥳

How do you plan to spend the last day of 2023? Party 🎉 or couch 🛋️? Let us know below with an emoji!

🗓️ Mark your calendars: The due date for fourth quarter federal and state (if applicable) estimated tax payments is January 16, 2024. Don't let it slip your mind! 💸

💡 Remember, these estimated tax payments are calculated based on your projected income for the year. If your income or tax situation has changed throughout the year, it may be necessary to update your estimated tax payment to avoid any underpayment penalties.

As the holiday season draws near, we wanted to share a friendly reminder: December 31st is the charitable giving tax deadline! 🗓️

If you've got plans to make donations this season, and would like to potentially write them off on your taxes, make sure you do so before the end of the year.

Don't forget: keeping tabs on your donations and large gifts (receipts and all) will help us with your tax deductions for 2023.

Share this post to send your network a helpful reminder. And if you have questions, feel free to call our office. Happy holidays!