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2019 adjusted penalty amounts for health and other plans
Posted on: Friday, March 15, 2019
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Companion piece: Create a “road map” for your estate plan
Posted on: Thursday, March 14, 2019
No matter how much effort you’ve invested in designing your estate plan, your will, trusts and other official documents may not be enough. Consider creating a “road map” — an informal letter or other document that guides your family in understanding and executing your plan and ensuring that your wishes are carried out. Navigating your world
» Read moreThere’s still time for small business owners to set up a SEP retirement plan for last year
Posted on: Monday, March 11, 2019
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and you can make contributions to it that you can deduct on your 2018 income tax return. Contribution deadlines
» Read moreOlder employees present a hiring opportunity and challenge
Posted on: Friday, March 8, 2019
It’s in every employer’s best interest to keep an open mind about where the right talent for an open position may lie. Of course, in some industries, minds couldn’t be more open because skilled labor shortages are driving organizations to look everywhere for new hires.
» Read moreMoving a trust over state lines can offer tax savings and other benefits
Posted on: Friday, March 8, 2019
People who live in states with high income taxes sometimes relocate to a state with a more favorable tax climate. A similar strategy can be available for trusts. If a trust is subject to high state income taxes, you may be able to change its residence — or “situs” — to a state with low or no income taxes. What can a “trust-friendly” state offer?
» Read moreUsing knowledge management to develop your succession plan
Posted on: Thursday, March 7, 2019
As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top. If that person is a company’s owner, however, great knowledge can turn into a vulnerability when he or she decides to retire or otherwise leave the business.
» Read moreWill leasing equipment or buying it be more tax efficient for your business?
Posted on: Monday, March 4, 2019
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many businesses that formerly leased assets are now deciding to buy them. Pros and cons of leasing
» Read moreBeware the Ides of March — if you own a pass-through entity
Posted on: Monday, February 25, 2019
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March 15, is the federal income tax filing deadline for these “pass-through” entities.
» Read moreBlow the dust off your employee handbook
Posted on: Friday, February 22, 2019
It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional.
» Read moreHave you properly substantiated your 2018 charitable gifts?
Posted on: Thursday, February 21, 2019
Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about.
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