For business owners, particularly those operating sole proprietorships or closely held businesses, employing a spouse is sometimes considered as part of broader financial and tax planning discussions. While this approach can offer certain planning opportunities, it also introduces compliance requirements and potential risks that should be carefully evaluated. Understanding how the rules apply and when the strategy may or may not be appropriate, can help provide clarity when c

Federal Estate tax rules currently provide historically high exemption amounts, which may lead many families to assume estate tax planning is no longer necessary. However, Certain elections made after a spouse's death can still have significant implications for long-term estate planning. One such rule involves the portability of the federal estate tax exemption , which may allow a surviving spouse to use a deceased spouse's unused exemption amount. Understanding how portabili