The IRS has released its 2026 inflation adjustments, and they bring notable changes across the federal tax landscape. These updates affect everything from the estate and gift tax exemption to income tax brackets and standard deductions. For individuals and families focused on long-term wealth transfer, the implications are especially significant. Understanding the 2026 Estate and Gift Tax Exemption The most substantial update for 2026 is the increase in the federal estate and

Dear Clients and Colleagues, It is important to note that new reporting rules for New York LLCs take effect in 2026. Below is what business and entity owners should know to stay compliant and avoid costly penalties. Beginning January 1, 2026, the New York LLC Transparency Act (NYLTA) will take effect, introducing new reporting requirements for limited liability companies doing business in New York. The Act aims to enhance ownership transparency but will also create new compli

The One Big Beautiful Bill Act (OBBBA) , signed into law on July 4, 2025 , marks the most significant reform of Qualified Small Business...

On July 4th, President Trump signed into law what is now officially known as the “One Big Beautiful Bill Act” (OBBBA). This sweeping...

A new tax proposal backed by President Trump—informally referred to as the One Big Beautiful Bill Act —has introduced significant...

Dear Clients, Colleagues and Trusted Advisors, There have been several noteworthy estate and gift tax proposals recently introduced in...

On March 2, 2025, the U.S. Department of the Treasury announced that it is suspending enforcement of penalties and fines related to the...

The Corporate Transparency Act (CTA) is back in effect and business owners should be aware of the latest reporting requirements to ensure...

One of the most overlooked yet crucial elements of estate planning is understanding how your assets will be taxed when transferred to...

As of December 26, 2024, the Fifth Circuit Court of Appeals has reinstated the nationwide injunction against the Corporate Transparency...

Earlier this month, we shared news of a nationwide injunction that temporarily delayed the compliance deadlines for the Corporate...

As we come to the close of another incredible year, we at Lara Sass & Associates want to take a moment to express our heartfelt gratitude...

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a significant ruling in Texas Top Cop Shop, Inc.,...

As we gather with loved ones this Thanksgiving, we want to extend our deepest thanks to all of our clients and colleagues who make our...

The end of the year is fast approaching, and with it comes a crucial deadline for those with limited liability companies (LLCs) across...

Join Trusted Advisor and Corient for an exclusive breakfast event in NYC, featuring a panel discussion on the estate tax sunset. The...

As a reminder, as we near year-end and a critical presidential election, please join Lara Sass and AllianceBernstein for this important...

We’re excited to announce that Lara Sass, Esq ., Founder of Lara Sass & Associates, will be a featured speaker at the Impact Players...

As 2024 comes to a close, it's time to pause and assess your estate plan. For high-net-worth individuals, this period isn't just about...

This week, Vice President Kamala Harris endorsed tax hikes aimed at creating nearly $5 trillion in tax increases over the next decade. ...