Tax planning options are varied and complex — almost as if they were designed with some sort of mischievous intent. The Internal Revenue Code is a labyrinth of hard-to-decipher regulations intended to minimize tax sheltering and avoidance. Books could be written about the complexities — if it weren’t that those books would be out of [...]
This was a year that challenged us in ways we never could have imagined. At Cherrytree we’re hardly alone in that assessment, yet all of us feel fortunate to have remained healthy and productive throughout a year that will be fondly remembered by…almost no one. Here’s how 2020 played out for us: In order to [...]
As we all work quickly through our business day, there’s a tendency to use shorthand to describe various financial instruments, initiatives and strategies. We all do it. But sometimes the meanings can become lost. In recent interactions with our clients, I have noticed some confusion between the phrases: “tax credit investment,” “working capital needs” and [...]
At the Cherrytree Group, we understand tax credits are a bit of a “dense” topic. And we also understand that many real estate developers and investors don't always know where to begin to find out if they might be a candidate to take advantage of the various Federal and state tax credit programs. That’s why [...]
Brand identity is a big part of effectively doing business today. More than ever, customers are interested in what your brand says, what your values are, how you communicate your product and how you want people to feel when they interact with it. When it came time for the Cherrytree Group to find a larger [...]
As a result of the Covid-19 pandemic the IRS extended the deadline to file tax returns and make tax payments from April 15, 2020 to July 15, 2020. IRS added to those earlier Notices by issuing Notice 2020-23, which allows for certain taxpayers to have more time to invest "eligible gain" into a Qualified [...]
There are a number of provisions in the new Coronavirus Stimulus package that affect the methods for depreciation of real estate assets for tax purposes — and these changes are likely to be significant for our industry.
These are scary and uncertain circumstances that we are living through. The speed with which the Coronavirus took over our lives is truly transcendent and unparalleled, causing us to face overwhelming challenges. However, on a day when there was snow on the ground in March and Tom Brady announced that he is leaving the Patriots, you wonder how we could extract some positives from our current lives.
First and foremost, our hearts go out to everyone who has been affected by the coronavirus (COVID-19) pandemic. It is important to us that we maintain a healthy environment for our employees, clients, colleagues, family and loved ones. We need to work as a team to do our part to "flatten the curve" thus leading us to [...]
Unless you happen to earn your living in the financial planning field, you maybe be only slightly aware of the monumental nature of the changes to the IRS’s tax reform passed by Congress in 2017. How big were those changes? It was the first time in over 30 years that truly significant tax relief could be contemplated by [...]