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The Cavanagh Law Firm, P.A. Legal Blog

Navigating a high-asset divorce

When facing divorce as a high-net-worth individual in Arizona, you have much at stake. You’ve likely spent your entire life building your wealth, so it may seem unfair to have an unreasonable amount of that wealth given to your ex in your divorce decree. By arming...

Gift and Estate Tax Changes 2024

The amount that can pass estate tax free has increased to $13.61 million per person.  A married couple with the appropriate language in their trust can pass twice that amount. The annual gift tax exclusion has also increased and is now $18,000 per recipient per year....

5 ways to prepare for your business taxes

Businesses, just like individuals, need to pay income taxes. They file quarterly reports and then also an annual income tax return. That annual return helps reconcile prior tax contributions with the actual amount due based on end-of-year financial reports. Owners and...