Brian Shoer

Brian Shoer
Brian's more than 20 years of combined experience working in public accounting, with real-world experience in the private sector, enable him to understand all facets of a client’s business. Closely-held companies and their owners, along with high-net-worth individuals and families, have relied on Brian for practical and results-oriented tax planning and reporting. They appreciate that he takes time to explain the complex tax laws and how they apply to their particular situation, and then works to find the best solution that minimizes tax liability – even in the most difficult situations.
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Recent Posts

Massachusetts Approves Millionaires Tax: What It Means for Taxpayers

During this week’s midterm election, Massachusetts voters approved Question 1 – an amendment to the state’s constitution that will increase taxes for the commonwealth’s wealthiest residents.

9 Key Impacts of the Inflation Reduction Act

In August, President Joe Biden signed the Inflation Reduction Act of 2022 into law. While the legislation is focused primarily on fighting climate change and making health care and prescription drugs more affordable, it also has some significant tax impacts.

5 Year-End Tax Planning Ideas For Your Small Business

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce the best results for most businesses, as will bunching deductible expenses into this year or next to maximize their tax value.

Massachusetts Enacts Pass-Through Entity Tax Election Effective for 2021

When the Tax Cuts and Jobs Act (TJCA) was enacted in 2017, it limited the amount of state and local taxes (SALT) that individuals can deduct for federal income tax purposes to $10,000 (or $5,000 for a married individual filing separately). This “SALT cap” has brought on a flurry of legislative action as states enact Pass-Through Entity (PTE) tax elections that allow owners of PTEs such as S-Corporations and Partnerships to bypass the SALT cap by allowing their share of taxes to be paid by the entity at the entity level, and therefore lowering the owner’s federal income tax liability.

Claiming a Theft Loss Deduction if Your Business is the Victim of Embezzlement

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that’s sometimes difficult to do.

Key Considerations for Tax Planning in Light of Biden’s Proposed Tax Plan

With the election behind us, and tax season ahead of us, tax planning is at the forefront of the minds of many. Although President Elect Joe Biden has shared his proposed tax plan, much is still up in the air as we await the January runoff elections to determine control of the US Senate.

Potential Impacts to Estate Tax as a Result of the 2020 Election

The results are in, and regardless of which side you were rooting for, now is a good time to prepare for changes ahead in the new year. While President-elect Joe Biden has not yet provided concrete details on his plans to modify estate taxes, he has indicated that he supports raising estate taxes and changing the taxation of capital assets upon death.

5 Tips for a Mid-Year Tax Check Up

If you’re one of those people who is scrambling to finish your taxes by the end of the year, you may want to change your strategy by reviewing your finances mid-year. This is typically a great time for a check-up to make sure you are receiving optimal tax benefits and minimizing tax liabilities that may arise from changes in your life. Here are some things you should focus on for your mid-year tax checkup:

Will Your Rental Real Estate Continue to Qualify for the New 20% Tax Deduction?

As you may be aware, the IRS recently provided a safe harbor to determine when a rental real estate enterprise will qualify as a trade or business, and thus able to receive the 20% Qualified Business Income (QBI) tax deduction. This IRS notice states that a rental enterprise will be treated as a qualifying trade or business if the following three requirements are met:

Does Your Paycheck Need a Check-up?

If you receive a paycheck, you have probably noticed an increase in take home pay this year. No, it's not from an unexpected raise, but rather a decrease in the amount of income tax withheld. The Tax Cuts and Jobs Act (TCJA) made sweeping changes to the tax law, not the least of which is new lower income tax withholding rates. But before you go out and spend all of that extra money, keep in mind that withholding only represents the amount of tax paid to the IRS on your behalf, not necessarily the amount you owe.