Nolan Accounting Center ClientLine Newsletter

Nolan Accounting Center

4262 South 108th Street

Greenfield, WI 53228

Phone: 414-425-5690

Fax: 414-425-2373

April 2026

Estate Planning and Taxes

From an estate and gift tax perspective, the most significant change OBBBA made is a permanent increase to the estate, gift, and generation-skipping transfer (GST) tax exemption amounts. For 2026, these amounts are $15 million per individual or $30 million for a married couple, to be reviewed annually for inflation adjustments, up from $13.99 million per individual or $27.98 million for a married couple in 2025.

Review Your Succession Plan

Make sure to plan for what will happen to your business when you retire. Maybe your partner wants to buy you out, or you want to pass the business to your heirs. If you plan to sell your business to outside investors, you'll need to get a valuation. Include any consultation fees if the new owner requires assistance during the transition.

Building an Emergency Fund

With the holidays behind us, it's a good time to review your savings and get back on track, especially if you had to dip into your emergency fund during the holidays. Having an emergency fund is key to ensuring funds are available when unexpected financial hardships occur. Aim to save 3-6 months' worth of living expenses to give yourself peace of mind.

April 2026 Client Profile

Sarah, a florist in upstate New York, runs her boutique shop as a sole proprietorship. In 2025, her business nets $150,000 in qualified business income after expenses. Thanks to the Section 199A deduction— often called the pass-through deduction—she can deduct up to 20% of that income from her taxable amount, potentially saving her $9,000 in federal taxes, assuming she's in the 22% bracket.

Do You Have an Adequate Emergency Fund?

The 2025 Bankrate Emergency Savings Survey found that, despite lower inflation, it remains the main obstacle preventing Americans from saving for emergencies.

Basics of Estate Planning

Estate planning is a crucial process that ensures your assets are managed and distributed according to your wishes after your death. The foundation of a solid estate plan involves several key components.

April 2026 Q and A

Let's talk about the pass-through income deduction for businesses.

Control Versus Protection

When creating a trust, understanding the difference between revocable and irrevocable goes beyond just terminology. It can greatly influence asset protection and your control over those assets.

Building a Successful Partnership

A successful business partnership goes beyond shared enthusiasm—it requires careful planning, clear communication, and proactive decision-making. Partners must align on the company's structure, financing, and conflict resolution to build a strong foundation.

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