UPDATES&INSIGHTS:TAX is a HoganTaylor Tax practice publication designed to help you keep up with the latest tax issues impacting your organization.
In this issue, you will learn about the increased scrutiny of defined benefit plans, estate planning tips for the “Sandwich Generation,” rules related to nonqualified deferred compensation plans, and recent changes to the home mortgage interest deduction.
In This Issue:
Sponsors of defined benefit plans — commonly known as pensions — might be facing tighter scrutiny from the DOL. Just last year, the agency’s Employee Benefits Security Administration ramped up pension audits in its Philadelphia office and later decided to do so elsewhere. This article highlights what the DOL is focusing on in its audits. Read More
The “Sandwich Generation” consists of those individuals who are currently taking care of their children and their elderly parents. This article covers some critical steps to take when incorporating an elderly parent’s needs into an adult child’s estate plan. Read More
Nonqualified deferred compensation plans pay executives at some time in the future for services currently performed. Of course, in the hectic course of the average exec’s schedule, keeping up with the details isn’t always easy. This article explains what execs and employers should know. Read More
Among the biggest tax perks of buying a home is the ability to deduct mortgage interest payments. But this deduction has undergone some changes recently, so taxpayers may need to do some catching up. This brief article explains how the tax break has changed. Read More