Myer and Myer

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Individuals with sizable estates can breathe a sigh of relief when it comes to the federal estate tax. Currently, the fe...
10/24/2025

Individuals with sizable estates can breathe a sigh of relief when it comes to the federal estate tax. Currently, the federal gift and estate tax exemption is $13.99 million for individuals ($27.98 million for married couples). This exemption was scheduled to revert to $5 million (plus inflation adjustments) in 2026. But under the One, Big, Beautiful Bill Act, it has been made permanent. For 2026, the exemption will rise to $15 million ($30 million for married couples) and will be adjusted annually for inflation after that. This much-needed certainty provides planning flexibility and enables affluent families to preserve their wealth across generations. Questions? Contact us at (570) 296-2889.

According to a recent Gallup poll, only 59% of Americans have saved money in an IRA, 401(k) or other work-based retireme...
10/22/2025

According to a recent Gallup poll, only 59% of Americans have saved money in an IRA, 401(k) or other work-based retirement plan. Unfortunately, most people can’t enjoy a secure retirement with Social Security benefits alone. If other priorities have prevented you from investing, contact us at {Phone%}. We can review your income, budget and goals and assist you in establishing a retirement savings plan that will help you catch up!

If you own a life insurance policy, a portion of its proceeds could be lost to estate tax if your estate exceeds the gif...
10/21/2025

If you own a life insurance policy, a portion of its proceeds could be lost to estate tax if your estate exceeds the gift and estate tax exemption amount. If you don’t own the policy, the proceeds won’t be included in your taxable estate. Using an irrevocable life insurance trust (ILIT) can keep life insurance policies out of your estate. An ILIT owns one or more policies on your life, and it manages and distributes policy proceeds according to your wishes. You aren’t allowed to retain any powers over the policy, such as the right to change the beneficiary. Contact us at (570) 296-2889 for details.

Do you owe taxes you can’t pay? Don’t assume you’re out of options. We can negotiate with the IRS on your behalf to disc...
10/20/2025

Do you owe taxes you can’t pay? Don’t assume you’re out of options. We can negotiate with the IRS on your behalf to discuss the possibilities, such as a tax payment plan that works for you. Contact us at (570) 296-2889 for help.

Being prepared for disasters is always important. But the IRS warns that you should also be on the alert for an uptick i...
10/17/2025

Being prepared for disasters is always important. But the IRS warns that you should also be on the alert for an uptick in scams aimed both at survivors and those who donate to help them. Scammers often sweep in after a disaster to solicit donations. They may pose as employees of federal agencies or legitimate charities. In many cases, they ask for donations by gift cards, cash or wire transfers. Scammers may also set up bogus websites with names similar to real charities and make false claims that your donations are tax-deductible. Contact us at (570) 296-2889 with questions about charitable gifts. Use the IRS's Tax Exempt Organization Search tool to verify a charity’s status and learn more details here: https://bit.ly/4pgYYiS

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly ...
10/15/2025

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly journal entries, reconcile accounts, prepare internal financial statements and investigate variances, the harder it is to identify and respond to red flags and new business opportunities. These tips can help you close the month quickly. For more ideas on how to streamline your closing process without compromising financial accuracy, call us at (570) 296-2889.

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your compa...
10/14/2025

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your company might experience a seasonal upswing in workload or require specialized skills for a short period. However, there can be negative tax consequences if you inadvertently mishandle the relationship and the IRS can recharacterize an independent contractor as an employee. Please contact us at (570) 296-2889 for help understanding the tax implications and staying in compliance.

You may want to offer employees a retirement savings plan, but they can be expensive and complex. What’s a small busines...
10/13/2025

You may want to offer employees a retirement savings plan, but they can be expensive and complex. What’s a small business owner to do? Consider a simplified employee pension (SEP). They’re easy to set up and administer. Requirements are minimal: All workers must be eligible to participate, and your contributions can’t discriminate in favor of highly compensated employees. In 2025, you can contribute up to $70,000 (or up to 25% of compensation) to a worker’s SEP account and deduct the contributions. Contact us at (570) 296-2889 for details about this and other retirement plan options.

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the O...
10/10/2025

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, the credit was nonrefundable, meaning that it was limited to the taxpayer’s federal tax liability. However, under the OBBBA, up to $5,000 of the adoption credit is refundable, starting in 2025. After 2025, the refundable amount will be indexed for inflation. Any nonrefundable amount can be carried forward. There may also be state tax benefits. Questions? Contact us at (570) 296-2889.

A revocable trust (sometimes known as a “living trust”) can provide significant benefits. They include the ability to av...
10/08/2025

A revocable trust (sometimes known as a “living trust”) can provide significant benefits. They include the ability to avoid probate for the assets the trust holds and to facilitate the management of your assets in the event you become incapacitated. To obtain these benefits, you must fund the trust by transferring the title of assets to it. Assets not held by your revocable trust may be subject to probate and will be beyond the trustee’s control in the event you become incapacitated. Contact us at (570) 296-2889 with questions about the financial and tax aspects of your estate plan.

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or...
10/07/2025

Navigating tax law can be complex. But you don’t have to do it alone. Whether you’re filing as an individual taxpayer or running a business, we can provide solutions tailored to you. Contact us at (570) 296-2889 for help ensuring tax compliance and maximizing tax savings.

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accou...
10/06/2025

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accounting to tax planning and business advisory, we provide comprehensive services designed to keep your business on track and winning. Let us handle the numbers so you can focus on what matters most: operating a profitable business. Contact us at (570) 296-2889.

Address

102 Wheatfield Drive Ste A
Milford, PA
18337

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+1 570-296-2889

Website

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