About Topel Forman
ALERTS AND ARTICLES
Stay up to date with the most recent industry news and what’s happening at Topel Forman
Tax Relief for Victims of the California Wildfires
The IRS has announced tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds ... read more
Topel Forman Welcomes Four New Partners
Topel Forman is thrilled to announce the promotion of four accomplished professionals to its partner group, bringing the total to 16 ... read more
Tax Alert: President Biden Signs Federal Disaster Tax Relief Act of 2023
On December 12, 2024, President Biden signed into law the Federal Disaster Tax Relief Act of 2023 (H.R. 5863), providing tax relief ... read more
Celebrating Three Years as a Top Workplace
Topel Forman is a Top Workplace. We have a people-first culture. read more
Don’t Miss The Deadline: Beneficial Ownership Information Reporting
Topel Forman wants to provide a friendly reminder regarding the upcoming deadline for the Beneficial Ownership Information (BOI) ... read more
Tax Impact of Stock-Based Compensation
Tax Impact of Stock-Based Compensation Compensation may take several forms, including salary, fringe benefits and bonuses. If one is ... read more
Tax Consequences of Judgements or Settlements from Legal Proceedings
Generally, amounts received for nonpersonal injuries are included in gross income. Punitive damages are also generally included in ... read more
Topel Forman Ranked Top 200 Accounting Firm
Topel Forman is thrilled to announce our inclusion once again in the 2024 INSIDE Public Accounting (IPA) Top 200 Firms read more
Webinar Recording: Beyond the Receipt: Mastering Charitable Substantiation
Join us to learn the essential rules and requirements for documenting charitable contributions, helping you maximize deductions while ... read more
A $14 Million Dollar Sunest Plan For The Potential Gift Tax Exemption – Webinar
With the potential sunsetting for the $14 million dollar gift tax exemption in 2025, we provide key considerations for wealth transfer ... read more
Untangling the Corporate Transparency Act – Webinar
The Corporate Transparency Act (CTA) is a crucial piece of legislation aimed at preventing money laundering and illicit activities ... read more
Topel Forman Recognized with Illinois CPA Service Award
Topel Forman is recognized with the Illinois CPA Society's Time and Talent Volunteer Service Award Chicago, June 2024 - We're ... read more
Qualified Appraisals for Charitable Contributions of Crypto-Assets
Taxpayers who contribute property and claim a deduction of more than $500 but not more than $5,000 must also obtain a contemporaneous ... read more
Stories From Women In Accounting
For International Women's Day and Women's History Month our Women's Employee Resource Group and our DEI Committee hosted a panel ... read more
Proposed Legislation: The Tax Relief for American Families and Workers Act of 2024
On January 19, 2024, the Ways and Means Committee of the House of Representatives successfully propelled HR 7024 forward, known as the ... read more
The standard business mileage rate will be going up slightly in 2024
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by ... read more
Tax Planning: Charitable Giving
Charity donation is one of the most flexible tax planning tools because taxpayers can generally control the timing, manner, and amount ... read more
2024 Gift, Estate, and GST Inflation Adjusted Numbers
The IRS released the 2024 inflation-adjusted exemptions and exclusions for estate, gift, and GST tax. read more
The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?
The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this ... read more
Topel Forman, LLC Recognized as a Top Workplace for the Second Consecutive Year
Topel Forman is thrilled to announce that we have been named a Top Workplace for the second consecutive year. This prestigious award, ... read more
Tax Planning: Timing Income and Expenses
Strategic timing of income and expenses can be a game-changer in tax planning. Will helps navigate the intricacies, offering insights ... read more
Illinois Electric Vehicle Rebate Program
The Illinois Environmental Protection Agency (IEPA) is offering a rebate of $4,000 to Illinois residents who purchase a new or used ... read more
Plan now for year-end gifts with the gift tax annual exclusion
By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate within ... read more
Topel Forman Recognized as a Best of The Best Firm
Topel Forman Recognized as a Best of The Best Firm Chicago, August 2023 - Topel Forman is proud to announce that it has been ... read more
The Corporate Transparency Act
The Corporate Transparency Act (CTA) was passed in 2021. It requires certain entities to report information about their beneficial ... read more
Solo business owner? There’s a 401(k) for that
With a solo 401(k), the self-employed can make large annual deductible contributions to a qualified (that is, tax-advantaged) ... read more
Residency and Multi-State Income Taxation
The determination of residency for multi-state income taxation is a complex issue, and there is no one-size-fits-all answer. However, ... read more
Achieving the right balance of working capital
The amount of working capital your company needs depends on the costs of your sales cycle, upcoming operating expenses and current ... read more
Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return
Upcoming tax deadlines include April 1: last day to begin receiving RMDs and April 18: deadline for making the first quarterly ... read more
Close-up on sources of substantive audit evidence
Organizations that understand how auditors verify account balances and transactions can minimize disruptions during audit fieldwork ... read more
Topel Forman’s Denver Office Relocates to Cherry Creek
Topel Formans's Denver Office Relocates to Cherry Creek. read more
Measuring fair value for financial reporting purposes
Fair market value is the appropriate standard of value in most business valuation assignments. But when valuing an asset for financial ... read more
Joint ownership isn’t right for all estate plans
Generally speaking, owning property jointly benefits an estate plan. Indeed, joint ownership offers several advantages for surviving ... read more
Tax-wise ways to save for college
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several ... read more
2023 Tax Calendar
To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, ... read more
Deciding whether to make lifetime gifts or bequests at death can be a deceptively complex question
Current tax law may make that an enticing proposition, given the inflation-adjusted $12.92 million gift and estate tax exemption. ... read more
2023 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that ... read more
Topel Forman Promotes New Partner – Christine Ludwig
Christine Ludwig, CPA has been promoted to Partner at Topel Forman. Christine is the first partner based out of the Denver office. She ... read more
SECURE 2.0 law may make you more secure in retirement
A new law was recently signed to help Americans save more for retirement, although many of the provisions don’t kick in for a few ... read more
What do the 2023 cost-of-living adjustment numbers mean for you?
The TCJA suspended personal exemptions through 2025. However, it nearly doubled the standard deduction, indexed annually for inflation ... read more
2023 limits for businesses that have HSAs — or want to establish them
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these ... read more
2022 Year-End Tax Planning Strategies
As the year comes to a close, there are still a few weeks to maximize your tax-saving strategies. Here are some reminders and options ... read more
Hurricane Ian and Personal Property Losses
The recent hurricane crisis in Florida has impacted several of us and devastated some families. As we try to cope with the fallout and ... read more
Act Now To Reduce Your Business’s 2022 Tax Bill
It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for the short term, if not ... read more
Topel Forman Awarded Top Workplace 2022
Topel Forman Named Top Workplace Chicago, IL (November 2022) —Topel Forman is proud to announce we've been named to the 2022 Top ... read more
The Inflation Reduction Act: what’s in it for you?
You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about ... read more
Evaluating an ESOP from a succession planning perspective
Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by ... read more
Benefit From The Purchase of An Electric Vehicle
The law states that additional guidance will be issued before December 31, 2022. However, the current law has several additional ... read more
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Best of the Best Firms
Topel Forman LLC was recently named one of the country’s top 200 accounting firms by INSIDE Public Accounting (IPA). The publication ... read more
Crypto Currency Is Not Subject To Wash Sale Rules
However, crypto is viewed as property, and the wash sale rules do not apply. The build back better bill was going to include a ... read more
Summers At Topel Forman
At Topel Forman, we often talk about balance which can mean many things, including reconnecting, providing flexible time off, and ... read more
Three tax breaks for small businesses
For 2018 through 2025, the qualified business income (QBI) deduction is available to eligible individuals, trusts and estates. But ... read more
How to avoid the early withdrawal tax penalty on IRA distributions
When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early ... read more
The GST tax and your estate plan: What you need to know
The generation-skipping transfer (GST) tax is among the harshest and most complex in the tax code. So, if you’re planning to share ... read more
Weathering the storm of rising inflation
Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global ... read more
How to account for collaborative agreements
Today, many companies share research or technology to develop new products. For example, manufacturers might enter into a joint ... read more
How to use the cost approach to valuing a business
The balance sheet — which shows a company’s assets and liabilities — is a logical starting point for valuing certain types of ... read more
Develop Your Career at Topel Forman
At Topel Forman, we know that our greatest strength is people. We are always seeking to add talented professionals to join our ... read more
The HSA: A healthy supplement to your wealth-building regimen
An HSA must be coupled with a high-deductible health plan (HDHP). For 2022, an HDHP is a plan with a minimum deductible of $1,400 for ... read more
IRA charitable donations: An alternative to taxable required distributions
To benefit from a QCD for 2022, you must arrange for a distribution to be paid directly from the IRA to a qualified charity by ... read more
There still may be time to cut your tax bill with an IRA
If you’re getting ready to file your 2021 tax return, and your tax bill is more than you’d like, there might still be a way to lower ... read more
Making withdrawals from your closely held corporation that aren’t taxed as dividends
Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a ... read more
Protecting Your Company From Cryptocurrency Fraud
According to blockchain data company Chainalysis, cryptocurrency transactions associated with illegal activity topped $14 billion in ... read more
Smooth sailing: Tips to speed processing and avoid hassles this tax season
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick ... read more
Educate your children on wealth management? (January 25, 2022)
There’s no one right way to teach your children about money. The best way depends on your circumstances, personality, and your comfort ... read more
How will revised tax limits affect your 2022 taxes? (January 20, 2022)
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this ... read more
What factors into the cost of capital? (January 6, 2022)
Valuation experts often use discounted cash flow (DCF) techniques to determine the value of a business or estimate economic losses. A ... read more
Topel Forman Promotes Two Partners
Daniel J. Sloan and Steven A. Hueffner have been promoted to Partner effective January 1, 2022, both based in Topel Forman's Chicago ... read more
With year-end approaching, 3 ideas that may help cut your tax bill (December 20, 2021)
If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability read more
60 Years At Topel Forman
Topel Forman celebrates 60 years in business. In speaking to retired members and current employees who have been here for over twenty ... read more
Are you ready for the upcoming audit season? (December 7, 2021)
An external audit is less stressful and less intrusive if you anticipate your auditor’s document requests. Auditors typically ask ... read more
Private companies: Are you on track to meet the 2022 deadline for the updated lease standard? (November 12, 2021)
The updated guidance calls for major changes to current accounting practices for leases with terms of a year or longer. In a nutshell, ... read more
Estate planning pitfalls exist if a significant portion of your wealth is concentrated in a single stock
Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to ... read more
Selling a home: Will You Owe Tax On the Profit?
The tax implications if you’re selling your home or you sold one in 2021. Depending on your home sale profit and your income, some or ... read more
Is an LLC the right choice for your small business? (September 10, 2021)
An LLC that’s taxable as a partnership can provide special allocations of tax benefits to specific partners. This can be an important ... read more
Topel Forman LLC Ranked Among INSIDE Public Accounting’s Top 200 Firms in the U.S.
Topel Forman LLC was recently named one of the country’s top 200 accounting firms by INSIDE Public Accounting (IPA). The publication ... read more
ABLE accounts may help disabled or blind family members (August 31, 2021)
Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many ... read more
With A Self-Directed IRA, You Choose Your Own Investments (August 19 2021)
If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the ... read more
IRS issues ERC guidance as Congress mulls early termination (August 12, 2021)
If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the ... read more
Topel Forman Announces Department Heads of Tax and Audit
The Tax and Audit departments have new leadership by two of the partners, Jessica Schulman and John Rozek. Jessica explained that the ... read more
There’s currently a “stepped-up basis” if you inherit property — but will it last? (August 3, 2021)
If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the ... read more
Topel Forman Hires New Senior Manager, Expanding Denver Office
Denver, CO – (July 2021) – Topel Forman, LLC, is pleased to announce that Christine Ludwig, CPA, has joined their Denver office as a ... read more
Traveling for Business Again? What Can You Deduct? (July 21, 2021)
Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. Under ... read more
Heading across state lines with your trust requires planning (July 15, 2021)
In some cases, it may be desirable to move a trust to a more favorable jurisdiction. But moving a trust from one state to another can ... read more
What You Need To Know About The Child Tax Credit Payments (July 6, 2021)
Today's Business Tax Topic - July 6, 2021 What you need to know about the child tax credit payments The first advance ... read more
Topel Forman Hires Brad Levandoski as New Chief Operating Officer
Topel Forman, LLC, has announced that Brad Levandoski has been hired as the new Chief Operating Officer. read more
Changes to premium tax credit could increase penalty risk for some businesses (April 14, 2021)
If your business can be defined as an applicable large employer, the recently signed American Rescue Plan Act might increase the ... read more
Stories and Advice from Women in the Accounting Industry
Topel Forman recently hosted a panel featuring talented women at our firm, including tax, audit, and administrative professionals. ... read more
New law tax break may make child care less expensive (March 25, 2021)
Child care is expensive. The newly enhanced child and dependent care credit may help for 2021. read more
Make the most of the Employee Retention Credit (March 23, 2021)
Are you required to make estimated tax payments because you don’t pay enough tax in withholding? Here are the rules. read more
The American Rescue Plan Act provides sweeping relief measures for eligible families and businesses (March 18, 2021)
Because the American Rescue Plan Act is such an expansive piece of legislation, it’s likely you, your family or your business can ... read more
Tax Alert: Payroll Provisions of the American Rescue Plan Act (March 12, 2021)
This tax alert focuses on updates from the American Rescue Plan, 2021 (ARPA, 2021), signed by President Biden on March 11, 2021. read more
Estimated tax payments: The deadline for the first 2021 installment is coming up (March 10, 2021)
Are you required to make estimated tax payments because you don’t pay enough tax in withholding? Here are the rules. read more
Get to Know: Jason Glickley
Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or ... read more
Retiring soon? Recent law changes may have an impact on your retirement savings (March 3, 2021)
Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or ... read more
Didn’t contribute to an IRA last year? There still may be time (February 11, 2021)
Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have ... read more
Many tax amounts affecting businesses have increased for 2021 (February 11, 2021)
How much do your employees have to earn in 2021 before they can stop paying Social Security tax? How much can they contribute to ... read more
2021 individual taxes: Answers to your questions about limits (February 9, 2021)
How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other ... read more
The power of the tax credit for buying an electric vehicle (February 3, 2021)
Although electric vehicles are a small percentage of the cars on the road today, they’re increasing in popularity. And if you buy one, ... read more
Tax Alert: Additional Highlights from the Consolidated Appropriations Act (January 26, 2021)
This tax alert focuses on additional updates from the Consolidated Appropriations Act (CAA) that may be beneficial to you and your business. read more
Tax Alert: Payroll Protection Program 2 – A Second Bite at The Apple (January 14, 2021)
The Consolidated Appropriations Act allows qualifying businesses to take a second round of Payroll Protection Program (“PPP”) loans. read more
Tax Alert: Employee Retention Credit May Provide Benefits to Your Business (January 7, 2021)
The new Consolidated Appropriations Act updated the CARES Act to provide expanded benefit changes to the Employee Retention Credit (ERC). read more
Tax Alert: New Law Clarifies Tax Treatment of PPP Loan Forgiveness (December 30, 2021)
What does the new Consolidated Appropriations Act mean for the tax treatment of PPP loans for businesses and individuals? read more
Timing Considerations for Potential Gift and Estate Tax Legislative Reform under a Biden Administration (December 1, 2020)
Tax alert on the blog: When will the Biden Administration's tax reform be enacted, and on what date will that tax reform be applied? read more
Review of Biden’s Tax Proposals (November 12, 2020)
In this tax alert, we outline significant changes that could take place according to Biden's tax proposals. read more
What do the 2021 cost-of-living adjustment numbers mean for you? (November 3, 2020)
Consider these 2021 cost-of-living adjustments as you complete year-end tax planning and plan for next year. read more
Year-end tax planning strategies must take business turbulence into account (October 27, 2020)
As 2020 winds down, it’s time for businesses to take stock of their tax situations and implement year-end tax planning strategies. read more
Unusual year steers year-end tax strategies (October 21, 2020)
Interested in reducing your 2020 tax liability? There’s still time to take these 2020 year-end tax planning steps. read more
The 2021 “Social Security wage base” is increasing (October 19, 2020)
Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The Social Security Administration just ... read more
What tax records can you throw away? (October 13, 2020)
Did you file an extension until Oct. 15 to file your 2019 tax return? After finishing, you might not want to throw away your tax records. read more
Compare and contrast: How do the Republican and Democratic tax plans differ? (September 29, 2020)
Even though taxes may not be the hottest topic of the upcoming presidential election, it’s worth your while to learn about each ... read more
2020 Q4 tax calendar: Key deadlines for businesses and other employers (September 22, 2020)
With fall arriving, it’s time for businesses to start thinking about year-end tax strategies. It’s also time to think about the fourth ... read more
Tax implications of working from home and collecting unemployment (September 17, 2020)
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of ... read more
COVID-19 Update #6: 2020 Wealth Transfer Planning Opportunities
With the presidential and congressional elections nearing and interest rates at historic lows, it’s a critical time to discuss your ... read more
The IRS issues guidance on the executive action deferring payroll taxes (September 2, 2020)
The IRS has issued guidance on the payroll tax deferral scheduled to begin on September 1. Here’s what it says. read more
What does the executive action deferring payroll taxes mean for employers and employees? (August 12, 2020)
Using an executive action, President Trump defers payroll taxes from Sept. 1 through the end of the year. But there are many ... read more
More parents may owe “nanny tax” this year, due to COVID-19 (August 11, 2020)
Do you have a nanny, housekeeper, or other household workers? If you pay him or her cash wages of $2,200 in 2020, you must withhold ... read more
Are scholarships tax-free or taxable? (July 29, 2020)
Scholarships are generally tax-free but there are times when academic awards result in taxable income. read more
COVID-19-related leave donation programs now eligible for tax relief (July 8, 2020)
Employers can help battle COVID-19 by allowing employees to give up paid time off and then donating cash to a qualified charity. The ... read more
IRS guidance provides RMD rollover relief (July 1, 2020)
IRS guidance has provided relief to individual taxpayers affected by COVID-19 who take distributions or loans from retirement plans ... read more
What qualifies as a “coronavirus-related distribution” from a retirement plan? (June 24, 2020)
If you need money due to COVID-19, you may be able to take a tax-free “coronavirus-related distribution” from a retirement plan. The ... read more
Is it time to outsource finance and accounting? (June 15, 2020)
Outsourcing has been a hot topic for businesses during the COVID-19 crisis. Here’s what you should know before applying this ... read more
PPP borrowers get concessions, additional guidance on forgiveness (June 8, 2020)
The Paycheck Protection Program Flexibility Act eases PPP loan forgiveness restrictions. Here are the details of the law, along with ... read more
IRS releases 2021 amounts for Health Savings Accounts (May 27, 2020)
There are many advantages to Health Savings Accounts (HSAs). Here are a few of them, along with the HSA inflation-adjusted amounts for ... read more
Looking for a trust that can also act as a financial backup plan? Consider a SLAT (May 21, 2020)
A spousal lifetime access trust (SLAT) can be a valuable tool to help a spouse remove significant wealth from his or her taxable ... read more
Independent assurance inspires confidence in sustainability reports (May 20, 2020)
What is a “sustainability” report? What reporting standards apply? And why does your report need an external audit? Find the answers here. read more
Business charitable contribution rules have changed under the CARES Act (May 14, 2020)
Food and financial insecurity have increased during the coronavirus (COVID-19) pandemic. If your business is donating to charity to ... read more
There’s still time to make a deductible IRA contribution for 2019 (May 7, 2020)
Do you want to save for retirement on a tax-advantaged basis? It’s not too late to make 2019 IRA contributions (if you’re eligible) ... read more
SBA extends the PPP repayment deadline for self-certification (May 7, 2020)
May 14, 2020, is the revised deadline to repay Paycheck Protection Program loans for borrowers who have chosen the Small Business ... read more
The CARES Act liberalizes net operating losses (May 6, 2020)
The CARES Act includes favorable changes to the rules for deducting net operating losses (NOLs). Here’s how. read more
Do you have tax questions related to COVID-19? Here are some answers (May 5, 2020)
If you’re like most Americans, the coronavirus (COVID-19) pandemic has led to many questions. Health issues are of utmost concern but ... read more
IRA account value down? It might be a good time for a Roth conversion (April 30, 2020)
Consider turning a stock market downturn into a tax-saving opportunity by converting a traditional IRA into a Roth IRA. read more
Adjust your expectations of business interruption coverage (April 29, 2020)
Business interruption insurance may seem like an ideal risk management measure to deploy during the COVID-19 crisis. But many business ... read more
Going, going, gone: Going concern assessments in the midst of COVID-19 (April 28, 2020)
Is your company struggling during the novel coronavirus (COVID-19) pandemic? You’re not alone. Here’s how to evaluate your company’s ... read more
The rules have changed regarding your IRAs, RMDs and estate plan (April 23, 2020)
Do you understand how the CARES Act and the SECURE Act affect your estate planning strategies regarding your IRAs or other defined ... read more
IRS extends some (but not all) employee benefit plan deadlines (April 22, 2020)
You’ve probably heard that the IRS has extended many tax filing and payment deadlines. But, as a business owner, do you know how these ... read more
New COVID-19 law makes favorable changes to “qualified improvement property” (April 21, 2020)
A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deducted over 39 ... read more
Adjusting your financial statements for COVID-19 tax relief measures (April 20, 2020)
In the midst of the COVID-19 crisis, many companies are focused on paying bills and avoiding bankruptcy. But you also must stay atop a ... read more
What are the key distinctions between layoffs and furloughs? (April 15, 2020)
COVID-19 has forced many business owners to re-evaluate the size of their workforces. The choice between layoffs and furloughs brings ... read more
Relief from not making employment tax deposits due to COVID-19 tax credits (April 14, 2020)
The coronavirus (COVID-19) crisis has resulted in unprecedented challenges for employers. Here are the details of some relief from the ... read more
COVID-19 Update #5: IRS Releases Additional Guidance on Extensions and Tax Payments (April 10, 2020)
Yesterday, the Internal Revenue Service issued Notice 2020-23, providing additional guidance on tax relief measures for the 2019 and ... read more
Review your estate plan in the midst of a major life shock (April 10, 2020)
When was the last time you reviewed your estate plan? In light of the coronavirus (COVID-19) outbreak, it’s a good time to review and ... read more
Answers to questions about the CARES Act employee retention tax credit (April 8, 2020)
As a business with employees, you may have questions about the new employee retention tax credit. Here are some answers. read more
Fake COVID-19 treatments and other new fraud schemes (April 7, 2020)
To ease the burdens of the coronavirus (COVID-19) pandemic, the U.S. Dept. of Treasury has extended the federal gift tax filing and ... read more
CARES ACT changes retirement plan and charitable contribution rules (April 7, 2020)
During the COVID-19 crisis, many people and charitable organizations need cash. The new CARES Act may provide some solutions. read more
The gift tax filing and payment deadlines have been extended to July 15 (April 3, 2020)
To ease the burdens of the coronavirus (COVID-19) pandemic, the U.S. Dept. of Treasury has extended the federal gift tax filing and ... read more
COVID-19 Update #4: CARES Act – Paycheck Protection Program (April 2, 2020)
On Friday, March 27th, Congress approved, and President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES ... read more
Using your financial statements during an economic crisis (April 2, 2020)
Are you searching for answers on how to guide your business through this difficult time of coronavirus (COVID-19) challenges? Your ... read more
COVID-19 stimulus package offers relief to affected individual taxpayers (April 1, 2020)
During these uncertain times, it pays to know what relief is available under the CARES Act for you and your family. read more
CARES Act provides COVID-19 pandemic relief to businesses (March 31, 2020)
The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic. read more
SBA offering loans to small businesses hit hard by COVID-19 (March 26, 2020)
The coronavirus (COVID-19) has pushed many small businesses to the brink. If you’re struggling, consider a new SBA loan launched ... read more
COVID-19 Update #3: IRS Provides Guidance on Filing Extensions (March 23, 2020)
On Friday, March 20th, the IRS issued Notice 2020-18 that expanded on the tax relief measures announced earlier last week in Notice ... read more
COVID-19 Update #2: IRS Provides Guidance on Deferring April 15 Tax Payments (March 19, 2020)
Yesterday, the Internal Revenue Service released guidance on the tax relief measures announced earlier this week by Treasury Secretary ... read more
COVID-19 Update #1 (March 16, 2020)
We want to let you know that we are closely monitoring the ongoing coronavirus pandemic and its potential impact on our ability to ... read more
House passes bill to provide coronavirus relief; Senate expected to act this week (March 16, 2020)
Financial and tax-related relief for individuals and businesses from the effects of coronavirus (COVID-19) come in the form of a bill ... read more
Have you coordinated your payable-on-death accounts with your estate plan? (March 11, 2020)
Payable-on-death (POD) accounts can be a blessing or a curse to your beneficiaries. Coordinating PODs with your estate plan is critical. read more
The IRS provides guidance on meal and entertainment deductions (March 10, 2020)
The Tax Cuts and Jobs Act eliminated some of the deductions for business-related meal and entertainment expenses. New guidance from ... read more
Work Opportunity Tax Credit extended through 2020 (March 5, 2020)
The Work Opportunity Tax credit was set to expire on Dec. 31, 2019. But a law passed late last year extends it through Dec. 31, 2020. ... read more
Home is where the tax breaks might be (March 4, 2020)
Buying a home and want to know how much of a tax break you’ll get for paying mortgage interest? Here are the rules. read more
Give your 401(k) plan a checkup at least once a year (March 3, 2020)
The health and well-being of your 401(k) plan calls for regular attention and care. Here are some important issues to examine. read more
Tax credits may help with the high cost of raising children (February 27, 2020)
The child tax credit is more valuable than it was a few years ago. In addition, more taxpayers are able to benefit from it. Here are ... read more
4 steps to a stronger balance sheet (February 26, 2020)
Market bulls and bears might disagree about when the next recession is coming. But everyone agrees that it’s smart to recession-proof ... read more
Do you run your business from home? You might be eligible for home office deductions (February 25, 2020)
Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to ... read more
Reasons why married couples might want to file separate tax returns (February 20, 2020)
In most cases, married couples who file jointly save more money on taxes than those who file separate returns. However, there are ... read more
Determining whether you need to file a gift tax return can be tricky (February 18, 2020)
A solid gifting strategy often is the backbone of an estate plan. Knowing when a gift tax return must be filed can keep you on the ... read more
There still might be time to cut your tax bill with IRAs (February 12, 2020)
Saving for retirement is essential for financial security and the government provides tax incentives. If you’re eligible, you still ... read more
The SECURE Act likely to affect your retirement and estate plans (February 11, 2020)
How will the SECURE Act affect your retirement and estate plans? read more
Time passages: Estate planning through the years (February 4, 2020)
Life can move fast. Is your estate plan keeping up? Learn about how it should evolve over time. read more
Answers to your questions about 2020 individual tax limits (January 31, 2020)
Not all tax figures are annually adjusted for inflation or change due to legislation. But many do. Here are some Q&As about ... read more
Numerous tax limits affecting businesses have increased for 2020 (January 30, 2020)
How much can your employees contribute to 401(k) plans this year? How much do employees have to earn in 2020 before they can stop ... read more
Can you deduct charitable gifts on your tax return? (January 29, 2020)
You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not ... read more
The SECURE Act changes the rules for employers on retirement plans (January 28, 2020)
With many of the provisions of the SECURE Act now in effect, do you know how they might affect your business? read more
Cents-per-mile rate for business miles decreases slightly for 2020 (January 23, 2020)
Your business can generally claim vehicle expense deductions by either calculating the actual expenses or using the IRS’s standard ... read more
401(k) plan highlights of the SECURE Act (January 22, 2020)
Late last year, Congress passed, and the President signed into law, the Setting Every Community Up for Retirement Enhancement (SECURE) ... read more
What are the responsibilities of an audit committee? (January 21, 2020)
Before you jump headfirst into the year-end financial reporting process, review the role independent audit committees play in ... read more
Help protect your personal information by filing your 2019 tax return early (January 15, 2020)
Be an early-bird tax return filer this year. It may protect you from tax identity theft. Here’s why. read more
Qualified Opportunity Funds: A new weapon in the estate planning arsenal (January 8, 2020)
Estate planning idea: Investing in the Qualified Opportunity Zone program can spur economic development in areas of need while ... read more
Employee benefit plans: Do you need a Form 5500 audit? (January 7, 2020)
Employee benefit plans sometimes need audits, too. Here are the rules. read more
5 ways to strengthen your business for the new year (January 6, 2020)
Business owners, it’s time to take your vitamins: These actions will help you make your company stronger for 2020. read more
Congress gives a holiday gift in the form of favorable tax provisions (December 30, 2019)
Just in time for the holidays: A new law has been passed that may provide tax savings to you. read more
Spending bill extends tax breaks, adds retirement account provisions (December 27, 2019)
A year-end governmentwide spending bill includes the extensions of almost all of the tax “extenders.” It also introduces the Setting ... read more
Medical expenses: What it takes to qualify for a tax deduction (December 20, 2019)
You may wonder if you can get a tax break for medical and dental expenses, as well as prescription drugs. Here’s what it takes and how ... read more
Adopting a child? Bring home tax savings with your bundle of joy (December 19, 2019)
If you’re adopting a child, it is one of the happiest experiences of your life. There also may be substantial tax breaks available to ... read more
2020 Q1 tax calendar: Key deadlines for businesses and other employers (December 18, 2019)
Your business faces a variety of tax-related deadlines in the first quarter of 2020. read more
Have you considered making direct payments of tuition and medical expenses? (December 17, 2019)
Making direct medical or tuition payments can be a powerful technique for transferring wealth gift-tax-free while also reducing the ... read more
2 valuable year-end tax-saving tools for your business (December 12, 2019)
How can your business save tax before year end? If you buy eligible assets and place them in service by December 31, you can claim ... read more
3 last-minute tips that may help trim your tax bill (December 12, 2019)
Are you giving holiday gifts to employees or customers? Or is your business throwing a holiday party? Make sure you understand the tax ... read more
Holiday parties and gifts can help show your appreciation and provide tax breaks (December 11, 2019)
Are you giving holiday gifts to employees or customers? Or is your business throwing a holiday party? Make sure you understand the tax ... read more
(KEEP) IRS updates rules for using per diem rates (December 10, 2019)
The Tax Cuts and Jobs Act changed the way some businesses must compute per diem allowances. The IRS recently issued guidance for ... read more
IRS updates rules for mileage-related deductions (December 4, 2019)
Do you or your employees deduct transportation expenses for operating an automobile for business purposes? If so, learn about recent ... read more
What is your taxpayer filing status? (December 3, 2019)
Should you file your tax return as a single person, a married couple filing jointly, a “head of household” or some other status? This ... read more
Flex plan: In an unpredictable estate planning environment, flexibility is key (November 27, 2019)
Trying to predict the future of the federal estate tax is a fool’s game. Protect your assets by building flexibility into your estate plan. read more
The tax implications if your business engages in environmental cleanup (November 26, 2019)
Many businesses engage in cleaning up environmental contamination. Unfortunately, every type of environmental cleanup expense cannot ... read more
Using your 401(k) plan to save this year and next (November 25, 2019)
Have you been contributing enough in 2019 to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this ... read more
BDIT lets you give away property without losing control (November 20, 2019)
While a beneficiary defective inheritor’s trust (BDIT) may be a complex estate planning strategy, it may be right for you if you don’t ... read more
Small businesses: Get ready for your 1099-MISC reporting requirements (November 19, 2019)
Has your small business paid independent contractors, vendors or others at least $600 for services during 2019? Here are the reporting ... read more
Forget cybercrime — “creepers” are an old-school threat to your business (November 18, 2019)
IT security must remain a priority for organizations. But don’t let virtual threats blind you to physical ones. Here’s how “creepers” ... read more
The net investment income tax is alive and well: How it can affect your estate plan (November 12, 2019)
If the 3.8% net investment income tax applies to you, it could be to the detriment of your estate plan. Learn why. read more
Factor 2020 cost-of-living adjustments into your year-end tax planning (November 11, 2019)
If you’re working on your year-end tax plan, you’d be wise to take these 2020 cost-of-living amounts into consideration. read more
You may be ABLE to save for a disabled family member with a tax-advantaged account (November 14, 2019)
Do you want to provide extra money to a disabled family member but you don’t want them to lose eligibility for government benefits to ... read more
IRA charitable donations are an alternative to taxable required distributions (November 7, 2019)
There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded. read more
Don’t worry! A broken trust can be fixed (November 6, 2019)
You can mend a broken heart, but what about a broken trust? There are remedies available. read more
Business year-end tax planning in a TCJA world (November 4, 2019)
Allocating year-end tax planning time now can prove beneficial come tax filing time next year. read more
How you can help stop elder financial abuse (October 31, 2019)
Do you know a vulnerable senior who seems afraid of his guardian or is unusually reluctant to discuss her finances? These can be signs ... read more
It’s not too late to trim your 2019 tax bill (October 29, 2019)
If you’re concerned about your 2019 tax liability, consider these year-end tax planning opportunities. read more
At the very least, update the financials in your business plan (October 28, 2019)
You may associate the term “business plan” with a start-up, but every company needs to keep their plan current. Of particular ... read more
Selling securities by year end? Avoid the wash sale rule (October 24, 2019)
Have you cashed in some investment gains in 2019? You may be looking for unrealized losses in your portfolio so you can sell those ... read more
Who needs an estate plan? You do! (October 23, 2019)
No one wants to contemplate their own mortality, but taking the time now to create an estate plan can greatly benefit your family ... read more
Deciding whether a merger or acquisition is the right move (October 21, 2019)
One of the boldest plays a business owner can make is to merge with or acquire a competing (or compatible) company. But it doesn’t ... read more
Nonprofits: New alternatives for reporting goodwill and other intangibles (October 17, 2019)
When nonprofit organizations merge, reporting goodwill and other intangible assets can be complex and costly. Fortunately, new ... read more
The U.S. Department of Labor’s final overtime rule goes into effect on January 1, 2020. Will your company be ready? (October 16, 2019)
The U.S. Department of Labor’s final overtime rule goes into effect on January 1, 2020. Will your company be ready? read more
Watch out for tax-related scams (October 15, 2019)
Have you received a text, letter, email or phone call purporting to be from the IRS? Don’t become the victim of a scam. Here’s what ... read more
Internal audit 2.0: Paperless and continuous auditing trends (October 10, 2019)
Does your current internal audit approach take advantage of electronic recordkeeping? Learn the benefits of upgrading your audit ... read more
Is a self-directed IRA right for you? (October 9, 2019)
A self-directed IRA provides more flexibility in investment choices while offering the same estate planning benefits as a traditional IRA. read more
IRS issues final QBI real estate safe harbor rules (October 8, 2019)
A safe harbor for rental real estate to qualify for the qualified business income deduction is now allowed. read more
Take advantage of the gift tax exclusion rules (October 3, 2019)
With the annual federal gift tax exclusion, you can transfer substantial amounts free of gift taxes to your children and others. Here ... read more
The chances of an IRS audit are low, but business owners should be prepared (October 2, 2019)
As a business owner, are you worried about being audited by the IRS? Here’s what you need to know to be prepared for an audit and ... read more
Sec. 6166: Estate tax relief for family businesses (October 1, 2019)
Frequently, heirs of successful entrepreneurs are forced to sell off business interests at “fire sale” prices to help pay a federal ... read more
When is tax due on Series EE savings bonds? (September 26, 2019)
If you own Series EE bonds, check the issue dates on your bonds. If they’re no longer earning interest, you probably want to redeem ... read more
IRS provides additional guidance on bonus depreciation under the TCJA (September 25, 2019)
Final IRS regulations (along with additional proposed regs) for the first-year 100% bonus depreciation deduction have been published. ... read more
5 ways to withdraw cash from your corporation while avoiding dividend treatment (September 24, 2019)
Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there may be ways to get ... read more
Control how your charitable gifts are used by adding restrictions (September 19, 2019)
Depending on how you look at it, restrictions can be a plus or a negative. When it comes to preserving your charitable legacy, placing ... read more
Uncle Sam may provide relief from college costs on your tax return (September 18, 2019)
Want to offset the high cost of college? There may be a federal tax credit for higher education costs that you can claim. Here are the ... read more
Budgeting is key to a successful start-up (September 17, 2019)
Navigating a start-up business without a financial roadmap can be perilous. Here’s how to jumpstart the budgeting process. read more
For best results, start your strategic planning early (September 12, 2019)
“Wait ’til next year” is the sad refrain of many sports fans. Business owners, however, shouldn’t wait until next year to start ... read more
Getting a divorce? There are tax issues you need to understand (September 10, 2019)
Getting a divorce can be a painful process. You don’t want to make it worse by making decisions that will cost you more in taxes. Here ... read more
Take intrafamily lending to the next level by establishing a family bank (September 9, 2019)
If you’re ready to “go pro” with your intrafamily lending activities, a family bank may be the answer. read more
The next estimated tax deadline is September 16: Do you have to make a payment? (September 5, 2019)
The third estimated tax payment deadline is coming up. Here are the details of when it is and whether you’re required to make a payment. read more
Putting together the succession planning and retirement planning puzzle (September 4, 2019)
Retirement planning can be puzzling enough, but business owners need to create a succession plan, too. Some ideas on getting the two to fit. read more
The tax implications of a company car (September 2, 2019)
For many business owners, a company car is a sign they’ve achieved success. Here are the basic tax breaks and tax implications ... read more
Taking distributions from your traditional IRA (August 29, 2019)
Prudently planning how to take money out of your traditional IRA can mean more money for you and your heirs. Here are three areas to ... read more
Expenses that teachers can and can’t deduct on their tax returns (August 28, 2019)
Are you an educator heading back to school and spending money out of your pocket to teach your students? You may be eligible for a ... read more
Expanded 529 plans offer unique estate planning benefits (August 27, 2019)
Not just for college anymore: 529 plans can also help achieve estate planning and other goals. read more
When the early bird commits the fraud, you need to catch it (August 22 2019)
There are many ways to recognize revenue early. If exposed, any one of them could destroy a business. Here’s why this practice is ... read more
Should you elect S corporation status? (August 21 2019)
One of the most popular business structures is the S corporation because of its liability protection and tax benefits. Could it work for you? read more
Understanding the contents of a will (August 20 2019)
In a nutshell, a will is a legal document that arranges for the distribution of your property after you die and allows you to ... read more
The tax implications of being a winner (August 15 2019)
If you’re fortunate enough to hit a sizable jackpot in the lottery or while gambling, there are tax implications. Here’s a rundown of ... read more
DOL expands retirement plan options for smaller businesses (August 8, 2019)
The costs involved with funding a retirement plan for employees can greatly burden a small business. The U.S. Dept. of Labor has ... read more
The “kiddie tax” hurts families more than ever (August 7, 2019)
If your child or grandchild has unearned income from dividends, interest and capital gains, beware of the “kiddie tax.” Your family ... read more
What’s the difference between the two types of power of attorney? (August 6, 2019)
A nonspringing (or durable) power of attorney (POA) is generally preferable to a springing POA. Learn why. read more
Take a closer look at home office deductions (August 1, 2019)
If you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office ... read more
Naming a trustee may be one of the most important decisions of your life (July 31, 2019)
When it comes to estate planning, trusts are appealing for many reasons. They can enable you to hold and transfer assets for ... read more
Attention: Accounting rule delays in the work (July 30, 2019)
Several major accounting rules have been updated in recent years. Some changes are taking a lot more time and effort than expected. ... read more
Why your phone may be a fraud risk (July 29, 2019)
In only a decade, mobile phones have changed our daily lives. Unfortunately, fraud has kept pace with technology. Here’s what you need ... read more
The “nanny tax” must be paid for more than just nannies (July 25, 2019)
You may have heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. read more
Businesses can utilize the same information IRS auditors use to examine tax returns (July 24, 2019)
Before conducting an audit, IRS examiners do their homework by reviewing “Audit Technique Guides.” Business owners and executives can ... read more
Assess for fraud risk before you experience financial losses (July 23, 2019)
Do you look for fraud threats the same way a dishonest employee would, as opportunities with relatively little risk of exposure? You ... read more
Thinking about a Roth IRA conversion? Now may be the ideal time (July 17, 2019)
It’s been said that timing is everything. With the reduction of individual income tax rates under the Tax Cuts and Jobs Act, now may ... read more
Summer: A good time to review your investments (July 16, 2019)
As the old song goes: “Summertime, and the livin’ is easy.” But take some time to review your investment portfolio for possible growth ... read more
Volunteering for charity: Do you get a tax break? (July 11, 2019)
Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the ... read more
Which entity is most suitable for your new or existing business? (July 10, 2019)
In the past couple of years, major changes have been made to the taxation of both C corporations and pass-through entities (including ... read more
4 negative outcomes of jointly owning property with a family member (July 8, 2019)
Don’t be caught off guard by the estate planning pitfalls of jointly owning property with loved ones. read more
Donating your vehicle to charity may not be a taxwise decision (July 2, 2019)
A tax deduction isn’t the only reason for donating a vehicle to charity. But if you’re counting on one, make sure you understand the ... read more
Ease itemized deduction limitations using a nongrantor trust (June 27, 2019)
Nongrantor trusts are gaining popularity, as current estate planning objectives have moved from limiting estate tax liability to ... read more
If your kids are off to day camp, you may be eligible for a tax break (June 26, 2019)
If you meet certain requirements, you may be eligible for a tax break on summer day camp expenses you pay for your child. Here is a ... read more
Congress acts to reform the IRS, enhance taxpayer protections (June 20, 2019)
The Taxpayer First Act is a wide-ranging IRS reform bill that also includes various other provisions that protect taxpayers’ rights. ... read more
Could you unearth hidden profits in your company? (June 19, 2019)
Unbeknownst to us, many a valuable thing may lie just beneath our feet. So it goes for businesses, which can discover unseen profits ... read more
You have options when addressing life insurance in your estate plan (June 13, 2019)
What factors should figure into your decision on who should own your life insurance policy? read more
Hiring this summer? You may qualify for a valuable tax credit (June 12, 2019)
New hires from certain disadvantaged “targeted” groups may qualify your business for the Work Opportunity Tax Credit. Here’s an ... read more
Thinking about moving to another state in retirement? Don’t forget about taxes (June 6, 2019)
Many people dream of retiring to another state to take advantage of warm weather or to be close to loved ones. Before you call the ... read more
Charitable lead trusts offer philanthropic and family benefits (June 5, 2019)
Does achieving two goals with one estate planning vehicle sound good to you? If so, a charitable lead trust might be right for your family. read more
Employers: Be aware (or beware) of a harsh payroll tax penalty (June 4, 2019)
If payroll taxes withheld from employees’ paychecks aren’t remitted to the federal government, a severe tax penalty can be personally ... read more
IRS wheels out additional guidance on company cars (May 30, 2019)
If your business has placed (or will place) passenger automobiles (including light trucks and vans) into service for 2019, listen up! ... read more
Hire your children this summer: Everyone wins (May 29, 2019)
Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You ... read more
IRS updates rules for personal use of employer-provided vehicles (May 21, 2019)
An attractive fringe benefit for some employees is an employer-provided vehicle that can be used for business and personal use. The ... read more
Comparing internal and external audits (May 17, 2019)
Internal and external auditors provide complementary coverage of financial matters that can help you make informed business decisions. ... read more
Selling your home? Consider these tax implications (May 16, 2019)
Are you selling your principal residence? You may be able to exclude up to $250,000 ($500,000 for married joint filers) of gain. Here ... read more
Consider a Roth 401(k) plan — and make sure employees use it (May 15, 2019)
A Roth 401(k) can be a valuable retirement savings option to add to your company’s benefits package. But make sure employees use it. read more
Make health care decisions while you’re healthy (May 14, 2019)
Express your medical preferences in the event you become incapacitated using two key documents: a living will and a health care power ... read more
Lean manufacturers: Reap the benefits of lean accounting (May 10, 2019)
How well are your lean improvement efforts working out? You probably won’t find the answer in your traditional financial statements. ... read more
Does your estate plan include a formula funding clause? (May 9, 2019)
An out-of-date “formula funding clause” can create unwelcome surprises. This is especially true after major tax law changes, such as ... read more
What type of expenses can’t be written off by your business? (May 8, 2019)
If you spend money in the course of doing business, you want to be able to write it off on your tax return. But in order to be ... read more
Plug in tax savings for electric vehicles (May 2, 2019)
Are you interested in joining the growing ranks of plug-in electric vehicle owners? Find out about the federal income tax credit you ... read more
Employee vs. independent contractor: How should you handle worker classification? (May 1, 2019)
Failure to properly treat workers as independent contractors can be an expensive mistake for employers. Take a look at ways to ... read more
Close-up on professional standards for CPAs (April 29, 2019)
CPAs rank among the most trusted professionals. And that trust is well warranted because of the extensive guidance that accountants ... read more
How entrepreneurs must treat expenses on their tax returns (April 25, 2019)
Starting a new business can be a hectic, exciting and expensive time. Be aware that not all start-up expenses can be deducted on your ... read more
Three questions you may have after you file your return (April 23, 2019)
Just because your tax return has been filed doesn’t mean you don’t still have questions. We’re often asked about refund status, record ... read more
ESG issues: To report or not to report? (April 22, 2019)
When reporting on sustainability, one size doesn’t fit all companies, says the SEC. Find out how its views about reporting on ... read more
Properly funding your revocable trust is the key to unlocking its benefits (April 18, 2019)
Along with a will, a living trust typically acts as a cornerstone of an estate plan. To ensure you reap all of its benefits, it must ... read more
Be vigilant about your business credit score (April 17, 2019)
Hey, what’s the score? We mean your business credit score. It can either help or hinder you as you apply for loans or shop for the ... read more
Still working after age 70½? You may not have to begin 401(k) withdrawals (April 12, 2019)
Are you still working after age 70½ and don’t want to take required minimum distributions from your 401(k) account? You might not have ... read more
Life insurance can be a powerful estate planning tool for nontaxable estates (April 11, 2019)
Sure, a life insurance policy offers peace of mind that loved ones will be taken care of after your death. But did you know it can ... read more
Transparency is key with related party transactions (April 10, 2019)
Friends, relatives, parents and subsidiaries: All are examples of related parties to identify and evaluate during the audit process. ... read more
Is return fraud cutting into your store’s profits? (April 9, 2019)
You want to offer your store’s customers a generous return policy. At the same time, you may be opening the door to return fraud. ... read more
Stretch your college student’s spending money with the dependent tax credit (April 5, 2019)
Are you the parent of a child who is age 17 to 23? You may be eligible for a $500 dependent tax credit. Here are the qualifications. read more
Understanding how taxes factor into an M&A transaction (April 2, 2019)
Buying or selling a business may be the most important transaction you ever make. So it’s important to seek professional tax advice as ... read more
5 ways to prevent fraud in your law firm (March 29, 2019)
Many law firms are like families, with trusting environments that make fraud easier to perpetrate. To prevent fraud schemes, ... read more
The Department of Labor proposes updated overtime rule (March 26, 2019)
The Trump administration has released its long-awaited proposed rule to update the overtime exemptions for so-called white-collar ... read more
No, it’s not unusual to include your pet in your estate plan (March 22, 2019)
Approximately 85 million U.S. families own a pet, according to a 2017-2018 National Pet Owners survey. If your family owns a pet, ... read more
Moving a trust over state lines can offer tax savings and other benefits (March 18, 2019)
It’s perfectly natural to set up trusts in the state where you live, but you may be losing out on significant benefits available in ... read more
Automating your accounting department (March 15, 2019)
Robotic process automation (RPA) is the wave of the future … even in the accounting department. Find out best practices for getting ... read more
Does it still make sense for employers to reimburse employees’ moving expenses? (March 13, 2019)
Some employers reimburse employees for moving expenses. But tax law reform has suspended the job-related moving expense deduction as ... read more
Using knowledge management to develop your succession plan (March 12, 2019)
When you step down from your company, your winning smile won’t be the only thing walking out the door. Your knowledge will be, too. ... read more
Will leasing equipment or buying it be more tax efficient for your business? (March 11, 2019)
When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax ... read more
Prevent fraud with the help of your audit committee (March 8, 2019)
Audit committees need to conduct risk assessments and be informed about recent accounting developments. These are only two best ... read more
Audits hone in on cybersecurity (March 7, 2019)
Technology creates both opportunities and risks. Have you identified and safeguarded against potential breaches of your digital assets ... read more
Vehicle-expense deduction ins and outs for individual taxpayers (March 6, 2019)
Rather than keeping track of your actual vehicle-related expenses, you can use a standard mileage rate to compute related tax ... read more
Are your employees ignoring their 401(k)s? (March 5, 2019)
No one should take his or her 401(k) plan for granted. And yet, it happens. Help your employees maintain their awareness of this ... read more
Careful tax planning required for incentive stock options (March 4, 2019)
If you were granted incentive stock options (ISOs) in 2018, there likely isn’t any impact on your 2018 income tax return. But if in ... read more
Imposing health care plan waiting periods on rehired employees (March 1, 2019)
If charitable giving is part of your estate plan and you made donations in 2018, you’re likely expecting a tax deduction. Not so fast. ... read more
Beware the Ides of March — if you own a pass-through entity (February 28, 2019)
Friends, Romans and countrymen, lend me your ears: All ye who must file a partnership or S corporation tax return, watch out for this ... read more
Best practices when filing a business interruption claim (February 14, 2019)
Buying business interruption insurance can be a wise move for many companies. But should disaster strike and you need to file a claim, ... read more
Hastily choosing an executor can lead to problems after your death (February 12, 2019)
Whom do you trust to be the executor (or personal representative) of your estate? The seemingly obvious choice may not be the best ... read more
Public companies to disclose stock hedging policies and practices (February 11, 2019)
Some public stock investors fear that company insiders who receive stock compensation and then use hedging tools may not have an ... read more
How fraud experts help companies head off a bad merger (February 8, 2019)
Your acquisition target may be exactly what it purports to be. But what if it isn’t and its owners have fudged its financial records? ... read more
Private companies: Have you implemented the new revenue recognition standard? (February 7, 2019)
It’s crunch time for private companies to implement the new revenue recognition standard. Here’s what you need to know, plus some ... read more
Financial statements tell your business’s story, inside and out (February 6, 2019)
Is your company generating financial statements with all the information necessary to tell how you’re doing? Here’s what they should contain. read more
DOL increases penalties for many labor law violations (February 4, 2019)
Every employer should take steps to manage its compliance risks. Recent changes to civil penalties for many violations of federal ... read more
Today’s Small Business Tax Topic (January 30, 2019)
Do you know what the Section 179 expensing limit is for 2019? Or how much you can allow your employees to contribute to their 401(k) ... read more
Today’s Emerging Tax and Regulation Alert (January 25, 2019)
Final IRS regulations on the qualified business income deduction are out. How will they affect your 2018 taxes? read more
Today’s Small Business Topic (January 18, 2019)
If you own a business, an exit strategy should be part of your tax planning so that taxes don’t trip you up when you retire or leave ... read more
Today’s Estate Planning Topic (January 16, 2019)
An annual estate plan checkup is critical to the health of your estate plan. Because various exclusion, exemption and deduction ... read more
Today’s Fraud Topic (January 14, 2019)
Business owners engaged in fraudulent activities often try to manipulate their companies’ financial statements. Fortunately for fraud ... read more
Today’s Estate Planning Topic (January 11, 2019)
If your son or daughter currently is home from college on winter break, now is a good time to sit down and discuss a few estate ... read more
Today’s Accounting and Audit Topic (January 4, 2019)
Attention, internal auditors: Let’s make a New Year’s resolution to work together more effectively in 2019. read more
Highlights of the Tax Cuts and Jobs Act
Prepaying property taxes has been a popular year-end tax-planning strategy. But does it still make sense? For many, particularly those ... read more
Today’s Estate Planning Topic (December 13, 2018)
] How incomplete nongrantor trusts can help avoid state income taxes With the federal gift and estate tax exemption at $11.40 ... read more
Today’s Estate Planning Topic (December 7, 2018)
] Consider an intrafamily loan to cover estate taxes Sometimes estates that are large enough for estate taxes to be a concern are ... read more
Today’s Small Business Tax Topic (August 21, 2018)
]Choosing the right accounting method for tax purposes The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using ... read more
Today’s Accounting and Audit Topic (August 16, 2018)
]It’s important to monitor your SEC filing status As public companies grow, they may move from one filing status or issuer ... read more
Today’s Estate Planning Topic (August 15, 2018)
]Protect your peace of mind with a trust protector Irrevocable trusts can allow for the smooth, tax-advantaged transfer of wealth to ... read more
Today’s Accounting and Audit Topic (August 14, 2018)
]Auditing the use of estimates and specialists Complex accounting estimates — such as allowances for doubtful accounts, impairments ... read more
Today’s Estate Planning Topic (August 13, 2018)
]Provide for family members with special needs using an SNT If you have a child or other family member with a disabling condition ... read more
Today’s Small Business Tax Topic (August 7, 2018)
]An FLP can save tax in a family business succession One of the biggest concerns for family business owners is succession planning — ... read more
Today’s Estate Planning Topic (August 7, 2018)
]Have you made your burial wishes clear? It may be difficult to consider, but funeral arrangements are a critical component of your ... read more
Today’s Accounting and Audit Topic (August 6, 2018)
]Hidden liabilities: What’s excluded from the balance sheet? Financial statements help investors and lenders monitor a company’s ... read more
Today’s Small Business Tax Topic (August 2, 2018)
]Do you qualify for the home office deduction? Under the Tax Cuts and Jobs Act, employees can no longer claim the home office ... read more
Today’s Small Business Tax Topic (July 30, 2018)
]Business deductions for meal, vehicle and travel expenses: Document, document, document Meal, vehicle and travel expenses are common ... read more
Today’s Estate Planning Topic (July 25, 2018)
]Double duty giving with charitable gift annuities If you’re charitably inclined, you may wish to consider a charitable gift annuity. ... read more
Today’s Individual Tax Topic (July 24, 2018)
]3 traditional midyear tax planning strategies for individuals that hold up post-TCJA With its many changes to individual tax rates, ... read more
Today’s Accounting and Audit Topic (July 23, 2018)
]Transitioning to remote audits Are you comfortable communicating electronically with your auditors? If so, a logical next step might ... read more
Today’s Estate Planning Topic (July 19, 2018)
]21st century estate planning accounts for digital assets Even though you can’t physically touch digital assets, they’re just as ... read more
Today’s Individual Tax Topic (July 17, 2018)
]What you can deduct when volunteering Because donations to charity of cash or property generally are tax deductible (if you ... read more
Today’s Small Business Tax Topic (July 12, 2018)
]How to avoid getting hit with payroll tax penalties For small businesses, managing payroll can be one of the most arduous tasks. ... read more
Today’s Accounting and Audit Topic (July 11, 2018)
]Is it time to adopt the new hedge accounting principles? Implementing changes in accounting rules can be a real drag. But the new ... read more
Today’s Business Brief (July 10, 2018)
]Is your inventory getting the better of you? On one level, every company’s inventory is a carefully curated collection of inanimate ... read more
Today’s Accounting and Audit Topic (July 5, 2018)
]Using analytical procedures in an audit provides many benefits Analytical procedures can make audits more efficient and effective. ... read more
Today’s Estate Planning Topic (July 5, 2018)
]The BDIT: A trust with a twist The beneficiary defective inheritor’s trust (BDIT) allows you to enjoy the benefits of a traditional ... read more
Today’s Small Business Tax Topic (July 2, 2018)
]Choosing the best business entity structure post-TCJA For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) ... read more
Today’s Accounting and Audit Topic (June 29, 2018)
]Spotlight on auditor independence and hosting arrangements With Independence Day coming up, it’s a good time to check up on auditor ... read more
Emerging Tax and Regulations Alert – June 26, 2018
]Supreme Court opens door to taxation of online sales In a much-anticipated ruling that confounded the expectations of many court ... read more
Today’s Estate Planning Topic (June 25, 2018)
]A SLAT offers estate planning benefits and acts as a financial backup plan The most effective estate planning strategies often ... read more
Today’s Fraud Topic (June 22, 2018)
]Know-your-customer programs aren’t just for banks To help fight crime, including terrorism, money laundering and identity theft, ... read more
Today’s Individual Tax Topic (June 21, 2018)
]Consider the tax advantages of investing in qualified small business stock While the Tax Cuts and Jobs Act (TCJA) reduced most ... read more
Today’s Accounting and Audit Topic (June 19, 2018)
Which intangibles should private firms report following a merger? Accounting for mergers and acquisitions transactions under U.S. ... read more
Today’s Estate Planning Topic (June 14, 2018)
]Fortify your estate plan against undue influence claims Of course, you expect the declarations in your will to be carried out, as ... read more
Today’s Individual Tax Topic (June 12, 2018)
]The tax impact of the TCJA on estate planning The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have ... read more
Today’s Estate Planning Topic (June 7, 2018)
]The pros and cons of a SCIN Many estate planning techniques are intended to minimize or even eliminate gift and estate taxes when ... read more
Today’s Fraud Topic (June 7, 2018)
]Backdated stock options: Fraudulent or legitimate? Backdated stock options can be particularly lucrative for the executives who ... read more
Today’s Business Brief (June 6, 2018)
]Could a long-term deal ease your succession planning woes? Some business owners — particularly those who founded their companies — ... read more
Today’s Individual Tax Topic (June 6, 2018)
]Factor in state and local taxes when deciding where to live in retirement Many Americans relocate to another state when they retire. ... read more
Today’s Small Business Tax Topic (June 5, 2018)
]What businesses need to know about the tax treatment of bitcoin and other virtual currencies Over the last several years, virtual ... read more
Today’s Accounting and Audit Topic (June 5, 2018)
]Don’t let collaborative arrangements cause financial reporting headaches Businesses often enter into so-called “collaborative ... read more
Today’s Estate Planning Topic (May 31, 2018)
]Naming a minor as beneficiary of a life insurance policy or retirement plan can lead to unintended outcomes A common estate planning ... read more
Today’s Individual Tax Topic (May 30, 2018)
]Saving tax on restricted stock awards with the Sec. 83(b) election Today many employees receive stock-based compensation from their ... read more
Today’s Fraud Topic (May 28, 2018)
]How walkthroughs help companies prevent fraud You’ve got internal controls to fraud-proof your company’s checks. Every check ... read more
Today’s Estate Planning Topic (May 24, 2018)
]Use the proper tools to fix a broken trust An irrevocable trust has long been a key component of many estate plans. But what if it ... read more
Today’s Estate Planning Topic (May 17, 2018)
]If charitable giving is part of your estate plan, consider a donor-advised fund Do you make sizable gifts to charitable causes? If ... read more
Today’s Small Business Tax Topic (May 16, 2018)
]Can you deduct business travel when it’s combined with a vacation? At this time of year, a summer vacation is on many people’s ... read more
Today’s Accounting and Audit Topic (May 15, 2018)
What’s all the buzz about XBRL? The Securities and Exchange Commission (SEC) requires public companies to provide their financial ... read more
Today’s Estate Planning Topic (May 10, 2018)
]Your original will: Does your family know where to locate it? In a world that’s increasingly paperless, you’re likely becoming ... read more
Today’s Fraud Topic (May 11, 2018)
]Can you trust your business’s bookkeeper? The bookkeeper is one of any company’s most trusted employees. Unfortunately, that trust ... read more
Today’s Small Business Tax Topic (May 9, 2018)
]IRS Audit Techniques Guides provide clues to what may come up if your business is audited IRS examiners use Audit Techniques Guides ... read more
Today’s Accounting and Audit Topic (May 8, 2018)
]Profits: How low can you go? If your profits are falling compared to revenue and assets, your financial statements may provide ... read more
Today’s Estate Planning Topic (May 3, 2018)
]Provide for your spouse, then your kids, with a QTIP trust If you want to preserve as much wealth as possible for your children, but ... read more
Today’s Fraud Topic (May 4, 2018)
Is organized crime harming your business? When most people think of organized crime, they imagine unsavory activities conducted in a ... read more
Today’s Accounting and Audit Topic (April 30, 2018)
]Effectively communicating with the audit committee CFOs and other executives occasionally present information about the company’s ... read more
Today’s Estate Planning Topic (April 26, 2018)
]Beware IRD if you’ve received an inheritance Most people are genuinely appreciative of inheritances. But sometimes it may be too ... read more
Today’s Accounting and Audit Topic (April 23, 2018)
]Get ready for the new lease standard A new accounting rule for reporting leases goes into effect in 2019 for public companies. ... read more
Today’s Fraud Topic (April 20, 2018)
]The consequences of synthetic identity theft are, unfortunately, real Identity thieves don’t rely on just real identities to commit ... read more
Today’s Estate Planning Topic
]4 estate planning techniques for blended families Today, it’s not unusual for a family to include children from prior marriages. ... read more
Today’s Emerging Tax and Regulation Alert (April 17, 2018)
]IRS sheds light on new limit on business interest expense deductions The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions ... read more
Today’s Accounting and Audit Topic (April 16, 2018)
]Public vs. private companies: When should different accounting rules apply? Small private companies often criticize the Financial ... read more
Today’s Estate Planning Topic (April 12, 2018)
]What estate planning strategies are available for non-U.S. citizens? Non-U.S. citizens in the United States face some estate ... read more
Today’s Business Brief (April 12, 2018)
]Blockchain may soon drive business worldwide “Blockchain” may sound like something that goes on a vehicle’s tires in icy weather or ... read more
Today’s Fraud Topic (April 13, 2018)
]Don’t let fraud tear your family business apart One of the things that make family businesses such appealing places to work is ... read more
Today’s Accounting and Audit Topic (April 11, 2018)
]Internal control testing: What role does sampling play? Auditors must test the effectiveness of internal controls before signing off ... read more
Today’s Estate Planning Topic (April 5, 2018)
]A total return unitrust can help maintain family harmony A traditional trust can sometimes create a conflict between the lifetime ... read more
Today’s Fraud Topic (April 6, 2018)
]How dishonest employees use shell companies to commit fraud For many entrepreneurs, getting a “doing business as” (DBA) certificate ... read more
Today’s Small Business Tax Topic (April 3, 2018)
Should you file Form SS-8 to ask the IRS to determine a worker’s status? Classifying workers as independent contractors — rather ... read more
Today’s Accounting and Audit Topic (March 30, 2018)
] Learn the warning signs of earnings “spin” Management wants to paint the rosiest possible picture of a company’s financial ... read more
Today’s Estate Planning Topic (March 29, 2018)
Apply for a waiver if you’ve missed the 60-day IRA rollover deadline IRAs and employer-sponsored plans such as 401(k)s are powerful ... read more
Today’s Business Brief (March 29, 2018)
]Could your next business loan get “ratio’d”? We live and work in an era of big data. Banks are active participants, keeping a keen ... read more
Today’s Fraud Topic (March 30, 2018)
]Don’t shortchange your business with under-the-table wages If you’ve ever considered paying employees in cash under the table, ... read more
Today’s Individual Tax Topic (March 28, 2018)
]Can you claim your elderly parent as a dependent on your tax return? Perhaps. It depends on several factors, such as your parent’s ... read more
Today’s Employer Brief (March 26, 2018)
Minding eligibility rules when managing 401(k) enrollment If your organization offers a 401(k) plan, you’re probably aware that you ... read more
Today’s Estate Planning Topic (March 27, 2018)
Don’t overlook securities laws when planning your estate For a variety of estate planning and asset management purposes, ... read more
Today’s Small Business Tax Topic (March 21, 2018)
]Defer tax with a Section 1031 exchange, but new limits apply this year Normally when appreciated business assets such as real estate ... read more
Today’s Estate Planning Topic (March 19, 2018)
]Power of attorney abuse: What you can do about it A financial power of attorney — sometimes called a “power of attorney for ... read more
Today’s Accounting and Audit Topic (March 21, 2018)
]How materiality is established in an audit or a review When accountants conduct an audit or review, they can’t test every ... read more
Today’s Fraud Topic (March 16, 2018)
]What you and your attorney can expect from a fraud investigation report Uncovering and documenting facts in a fraud case is just the ... read more
Today’s Accounting and Audit Topic (March 14, 2018)
]Feeling lucky? How to find a pot of gold in your financials Every business experiences occasional cash shortages. When this happens, ... read more
Today’s Estate Planning Topic (March 13, 2018)
]Keeping a trust a secret could violate state law If your estate plan includes one or more trusts, you may have a good reason for ... read more
Today’s Business Brief (March 8, 2018)
]7 ways to prepare your business for sale For some business owners, succession planning is a complex and delicate matter involving ... read more
Today’s Fraud Topic (March 5, 2018)
]Ghost employees may be haunting your payroll Matt was a trusted long-term employee who, unfortunately, was deeply in debt. ... read more
Today’s Accounting and Audit Topic (March 6, 2018)
How to classify shareholder advances Owners of closely held businesses sometimes need to advance their companies' money to bridge a ... read more
Today’s Fraud Topic (March 9, 2018)
]Fighting fraud with everyday accounting tools When thinking about the ways financial experts can uncover fraud, what usually comes ... read more
Today’s Accounting and Audit Topic (February 8, 2018)
Auditing work in progress Financial statement auditors spend a lot of time evaluating how their clients report work in progress ... read more
Today’s Accounting and Audit Topic (February 20, 2018)
For-profit vs. not-for-profit: Compare and contrast financial reporting goals As the term suggests, for-profit companies are driven ... read more
Today’s Emerging Tax and Regulation Alert (December 29, 2017)
Tax Cuts and Jobs Act offers favorable tax breaks for businesses The Tax Cuts and Jobs Act (TCJA), which was signed into law on ... read more
Today’s Estate Planning Topic (February 26, 2018)
]A joint home purchase can ease estate tax liability If you’re planning on buying a home that you one day wish to pass on to your ... read more
Today’s Accounting and Audit Topic (February 27, 2018)
]What is job cost reporting? Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a ... read more
Today’s Emerging Tax and Regulation Alert (February 27, 2018)
]Home equity borrowers get good news from the IRS Passage of the Tax Cuts and Jobs Act (TCJA) in December 2017 has led to confusion ... read more
Today’s Employer Brief (February 20, 2018)
IRS letter addresses COBRA premiums for HRAs Employers with 20 or more employees are generally required to offer continuing health ... read more
Today’s Accounting and Audit Topic (February 14, 2018)
]Fixed vs. variable costs: How to compute breakeven Breakeven analysis can be useful when investing in new equipment, launching a new ... read more
Today’s Estate Planning Topic (February 13, 2018)
]Only certain trusts can own S corporation stock S corporations must comply with several strict requirements or risk losing their ... read more
Today’s Fraud Topic (February 8, 2018)
Watch out for W-2 phishing scams A growing number of businesses have been victimized by W-2 phishing scams. These frauds are a ... read more
Today’s Accounting and Audit Topic (January 31, 2018)
]Unlock hidden cash from your balance sheet Need cash in a hurry? Here’s how business owners can look to their financial statements ... read more
Today’s Individual Tax Topic (January 23, 2018)
]Can you deduct home office expenses? Working from home has become commonplace. But just because you have a home office space doesn’t ... read more
Today’s Small Business Tax Topic (January 22, 2018)
]Meals, entertainment and transportation may cost businesses more under the TCJA Along with tax rate reductions and a new deduction ... read more
Today’s Accounting and Audit Topic (January 20, 2018)
Footnote disclosures are critical to transparent financial reporting Business owners often complain that they’re required to provide ... read more
Today’s Estate Planning Topic (January 18, 2018)
Have you taken state estate taxes into account? The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption in 2018. ... read more
Today’s Individual Tax Topic (January 17, 2018)
]Personal exemptions and standard deductions and tax credits, oh my! Under the Tax Cuts and Jobs Act (TCJA), individual ... read more
Today’s Accounting and Audit Topic (January 12, 2018)
]How financial statements can be used to value private businesses Owners of private businesses often wonder: How much is my business ... read more
Investment Planning
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Audit & Assurance
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Logistics Companies
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Global Assets & Risk Management
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Developing a Strategy
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Why Our Consulting
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Retirement Plans
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