Wealth Advisory
NY Domicile Ruling: Lessons from Hoff for Residency and Tax Planning
New York’s Tax Appeals Tribunal recently sustained a domicile assessment in Hoff v. New York Tax Appeals Tribunal, finding that the taxpayers remained New York domiciliaries for 2018 and 2019. While this decision comes out of New York, the scrutiny outlined in detail below is not unique. Many states apply similarly rigorous analyses when evaluating […]
How Early Planning Maximizes the Value of a Business Sale
Financial outcomes from a business sale reflect the planning and decisions made long before the deal closes. Thoughtful preparation allows you to structure the transaction and manage proceeds deliberately. Starting early—think years ahead—creates space to protect what you’ve built, optimize your tax strategy, and plan the next chapter. A measured approach ensures that funds are […]
High Earners Age 50+ Face New 401(k) Tax Rule
Starting in 2026, high earners age 50 and older will face a change in how they can save for retirement. Under the SECURE 2.0 Act, participants in 401(k) and similar workplace retirement plans above the standard limit will no longer be eligible for the traditional pre-tax catch-up contributions. Instead, these contributions will be treated as […]
AAF Wealth Management Q3 2025 Market Insights
In an ongoing commitment to keep you abreast on a range of issues that might affect your business, AAFCPAs is pleased to share Q3 2025 Market Insights published by AAF Wealth Management. This provides investors with an understanding of what’s driven performance of late. Global securities markets have maintained impressive momentum in 2025, delivering strong […]
What You Should Know Before Claiming Social Security Benefits
Andy Hammond, AAF Wealth Management, shares insights from recent client conversations. Lately, I’ve been hearing from more and more clients—especially those in their early to mid-60s—who are starting to think seriously about retirement. One of the biggest questions on their minds? When to start claiming Social Security. It’s a decision packed with financial implications, and […]
What OBBB Means for Charitable Contributions
New Rules for Charitable Deductions Starting in 2026 For years, charitable giving rules have shifted with each round of tax legislation, leaving individuals and corporations uncertain about what’s next. The One Big Beautiful Bill (OBBB) Act is the latest in this evolution, introducing new opportunities and limitations that will take effect in 2026. Some provisions […]
What OBBB Means for Estate Tax and Wealth Transfer
The One Big Beautiful Bill (OBBB) Act raises the federal estate tax exemption to $15 million per individual beginning January 1, 2026, a permanent change indexed for inflation. For many families, this eases the prospect of federal estate tax altogether. Yet planning remains as vital as ever. The increase does not replace the value of […]
New Mortgage Interest Rules Offer Opportunities for Individual Taxpayers
How the OBBB Act Changes Mortgage Interest Deductions The rules for deducting mortgage interest have shifted in ways that may prompt many individual taxpayers to rethink their year-end tax planning. The newly enacted One Big Beautiful Bill (OBBB) Act locks in a key limit on acquisition debt, adds a deduction for private mortgage insurance beginning […]
Embracing the Do-Over—A Journey in Wealth, Wellness, and Second Chances
There’s a phrase I’ve come to love: “the great redo”. It’s the idea that life, much like financial planning, sometimes gives us a second chance to get things right—or at least to do them better. I recently lived this lesson firsthand, and I want to share how it shaped my approach to both personal growth […]