How to keep track of small tools and equipment
Whether it’s hard hats and drills on a jobsite, iPads in an office or RFID readers in a warehouse, small tools and equipment have a tendency to disappear at many companies. The cost of lost, damaged and stolen items can quickly add up, consuming profits and cash flow.
Is multicloud computing right for your business?
Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing.
Depreciation and cost recovery rules: 2019 and later
The Tax Cuts and Jobs Act of 2017 (TCJA) brought with it some changes and updates to Depreciation rules. SEK’s tax department has created this one page quick reference guide to help answer some of the most common Depreciation questions we receive.
The net investment income tax is alive and well: How it can affect your estate plan
The Tax Cuts and Jobs Act (TCJA) reduced individual income tax rates, but it left the 3.8% net investment income tax (NIIT) in place. It’s important to address the NIIT in your estate plan, because it can erode your earnings from interest, dividends, capital gains and other investments, leaving less for your heirs. Read how the net investment income tax works here.
A shadow board could shed light on your company’s best future
In many industries, market conditions move fast. Businesses that don’t have their ears to the ground can quickly get left behind.
Don’t worry! A broken trust can be fixed
There are good reasons why estate planning advisors recommend you revisit and, if necessary, revise your estate plan periodically: changing circumstances, including family situations and new tax laws.
Must employers distribute initial COBRA notices every year?
When an employer’s staff size reaches 20 or more, it’s generally required to offer “COBRA” health care coverage to departing employees. (The name comes from the legislation that made it law: the Consolidated Omnibus Budget Reconciliation Act of 1985.)
At the very least, update the financials in your business plan
Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing analysis, management team description, implementation plan, and financials.
Phased retirements can capture intellectual capital, help older workers
When retiring employees walk out the door for the last time, they often leave with more than fond memories. Many depart with vast amounts of “intellectual capital” — knowledge related to the organization and their jobs that no one else possesses.
Accelerate depreciation deductions with a cost segregation study
Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study.