Ease itemized deduction limitations using a nongrantor trust
The estate planning focus for many people has shifted from transfer taxes to income taxes. A nongrantor trust can be an effective option to reduce income taxes, and it offers a way around the itemized deduction limitations imposed by the Tax Cuts and Jobs Act (TCJA).
Donating Your Vehicle to Charity May Not Be a Taxwise Decision
You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not result in a big tax deduction — or any deduction at all.
Should you name a trust as IRA beneficiary?
An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly.
AUP Engagements: A Middle Ground Between Audits and Consulting Services
Your CPA offers a wide menu of services. An audit is a familiar type of attestation service that provides a formal opinion about whether the company’s financial statements conform to U.S. Generally Accepted Accounting Principles (GAAP).
Compete Carefully in a Fierce Job Market with Signing Bonuses
Is your organization looking to hire new employees? Join the club. The U.S. unemployment rate hit a historic low this past April, according to a Bureau of Labor Statistics household survey. It fell to 3.6%, the lowest rate since December 1969 — that’s almost 50 years!
Measuring "Fair Value" for Financial Reporting Purposes
The standard for valuing certain assets and liabilities under U.S.
Are Health Club Memberships or On-Site Fitness Centers and ERISA Benefit?
More and more employers are contributing dollars toward the cost of health club memberships for employees. Some are even building their own on-site fitness centers.
The Chances of IRS Audit are Down But You Should Still be Prepared
The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years.
Laying the Foundation for a Functional Incentive Plan
Employee incentive plans can be among the most meaningful benefits that an employer can offer. This is because participants receive awards tied directly to their professional accomplishments or their organization’s success.
Targeting and Converting Your Company's Sales Prospects
Companies tend to spend considerable time and resources training and upskilling their sales staff on how to handle existing customers. And this is, no doubt, a critical task. But don’t overlook the vast pool of individuals or entities that want to buy from you but just don’t know it yet.