Christopher Sternau CFP® CPA @CSternauCFPCPA

Forward thinking tax advisor. I specialize in working with entrepreneurs, investors, and UHNW. Tweets are not tax or investment advice linktr.ee/csternaucfpcpa Houston, TX Joined April 2022

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

Large standard deduction + limit on property/income tax, pass though entity tax elections become more valuable to get benefit for state income tax deductions

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

Check out the latest article in my newsletter: Unlocking the Full Potential of Inherited Wealth: A Comprehensive Guide to Basis Step-Up at Death linkedin.com/pulse/unlockin… via @LinkedIn

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

"Maximizing the Power of Annual Gifting: Long-Term Growth and Strategic Uses"linkedin.com/pulse/maximizi… on @LinkedIn

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

Excited to announce my recent quote in an insightful article for Yahoo Finance! linkedin.com/posts/christop…

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

@"Weighing the Benefits: When Electing Out of Bonus Depreciation Can Be Effective"linkedin.com/pulse/weighing… on @LinkedIn

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Christopher Sternau CFP® CPA @CSternauCFPCPA

2 years ago

I really think the new beneficial ownership information reporting requirements of the Corporate Transparency Act is going to catch many business owners off guard. Goes into effect 1/1/2024. Another compliance requirement for small business owners. fincen.gov/boi

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Evans Sternau CPA @EvansSternauCPA

3 years ago

It's that time of the week... #businessowners #taxlaws #smb #cpa

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Christopher Sternau CFP® CPA @CSternauCFPCPA

3 years ago

Taxpayers filing Form 1040-X, Amended Individual Tax Return, may now request their refund be direct deposited. This should add some efficiency to a typically slow filing process . Current processing time is still more than 20 weeks. #tax irs.gov/newsroom/new-i…

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Christopher Sternau CFP® CPA @CSternauCFPCPA

3 years ago

Private Foundations 1) Charitable organization founded by an individual/family to support the philanthropic intentions of the family 2) Can be used to "supercharge" donations (accelerate several years of donations into a single year). Good idea in a high income year

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Christopher Sternau CFP® CPA @CSternauCFPCPA

3 years ago

Trusts owning S Corporations S corps must only have allowable shareholders (individuals, certain trusts, estates) - no partnerships, corporations, or nonresidents Eligible trusts are subchapter s trusts (QSST) and electing small business trusts (ESBT)

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Christopher Sternau CFP® CPA @CSternauCFPCPA

3 years ago

Family business planning Absolutely critical to have a plan in place to transition wealth from one generation to the next. The transition could be planned or unplanned (death, disability, etc) Need to consider financial and non-financial aspects of the transition

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Ed Zollars, CPA @edzollars

3 years ago

Well, the IRS has decided to modify the change of accounting method revenue procedure for §174 expenses very shortly after issuing it. New Revenue Procedure 2023-11 now governs these changes. 1/2 #TaxTwitter

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Christopher Sternau CFP® CPA @CSternauCFPCPA

3 years ago

Tax changes for research or experimental expenditures under section 174 for 2022. Expenses (including software development) will be required to be capitalized and amortized over 5 or 15 years.