Daniel LaForge

Daniel LaForge
Dan joined the firm in 2015 and has over 25 years of experience in public accounting. Dan is well versed in all areas of taxation, including: corporate, partnership, individual, trust, gift, estate, multi-state income, and sales taxation. He has worked extensively with closely held companies in a variety of industries. Dan also has spent a significant number of years in providing individual income tax planning and personal financial planning services. He represents businesses and individuals before federal and state taxing authorities.
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Recent Posts

Gift and Estate Tax Exemptions Updated for 2024

As of January 1, 2024, the federal lifetime gift and estate tax exemption amount has increased to $13.61 million per person (up from $12.92 million in 2023). This means that individuals may now transfer up to $13.61 million - tax-free - during their lifetime or at death. Married couples may now transfer up to $27.22 million with proper estate planning.

Key Federal and Massachusetts Estate Tax Thresholds for 2023

The United States has taxed the estates of decedents since 1916, and gifts since 1924, with tax rates and exemption levels that have varied greatly over the last two decades.

Massachusetts Governor Signs Tax Relief Bill

On Wednesday October 4, 2023, Massachusetts Governor Maura Healey signed a $1 billion tax package into law. This significant legislation will increase tax credits for caregivers, renters, and seniors, and provide benefits for the business community. Through this legislation, Healey hopes to make the cost of living more affordable to families.

Filing Your Gift Tax Return Late? Here's Why You Shouldn't

We all do our best to file tax returns on time. But when the deadline is approaching and we’re all so busy, we might think, “There’s no tax, so what’s the harm. I’ll just get it done when I can”. Sounds reasonable, right?

Key Thresholds in Federal Estate & Gift Tax and Massachusetts Estate Tax

The United States has taxed the estates of decedents since 1916, and gifts since 1924, with tax rates and exemption levels that have varied greatly over the last two decades. Massachusetts is one of several states in the country that has a state estate tax. Among those states, Massachusetts is one of two states with the lowest estate value that is subject to tax.

Key Thresholds in Federal Estate & Gift Tax and Massachusetts Estate Tax

The United States has taxed the estates of decedents since 1916, and gifts since 1924. With tax rates and exemption levels varying greatly over the last two decades, including recent changes with the Tax Cuts and Jobs Act (TCJA), I thought it would be helpful to outline some key forms and current thresholds relating to estate & gift tax.

Will You Be My Estate Personal Representative?

So, you were asked to be the Personal Representative (PR) of an estate. It seemed like accepting was the right thing to do at the time. How hard can dividing up your parent’s lifelong savings and assets between siblings really be? Consider the following in deciding to be a PR and navigating the estate administration process.

Estate Tax & Gifting in Massachusetts

Taxpayers often utilize gifting as part of their estate plan. However, determining the applicability of the Massachusetts estate tax can lead to some unexpected results when there are lifetime gifts.

FAQ: Massachusetts Millionaire's Tax

You may have heard that lawmakers recently voted to push forward a proposed "Millionaire's Tax" in the state of Massachusetts. Wondering what this means, and when it could possibly impact Massachusetts residents?

To shed some light on the topic, I've put together a list of frequently asked questions and answers:

Estate Tax Portability - 5 Things You Need to Know

The IRS recently released an update to its federal estate tax regulations, relaxing the rules on making a late portability election to a descendant's estate.

Currently, the federal estate tax exemption is $5.4 million, meaning that when a person dies, they will only pay federal estate tax (up to 40%) if the value of their estate exceeds $5.4 million. In 2011, the IRS introduced a concept called 'portability' to the federal estate tax exemption, and has now added an additional rule to allow for a late portability election. Here's what you should know: