Small businesses are at the highest risk for employee theft or embezzlement. According to the Association of Certified Fraud Examiners (ACFE) 2018 Report to the Nations, fraud occurs 42% more often compared to larger corporations. This is both frightening and disappointing, as many small businesses place their trust in employees in accounting or financial positions. [...]
The SECURE Act, which was signed into law on December 20, 2019, will greatly affect estate planning for many of our clients. Before the SECURE Act, owners of tax-favored retirement plans (IRAs, 401ks, etc.) were able to leave their retirement assets to a designated beneficiary who could then keep the plan in its tax-deferred status [...]
Two of the leading presidential candidates have proposed a Wealth Tax which would be assessed annually based on the total value of a taxpayer’s worldwide personal assets. The details differ between the candidates but both plans carry a yearly levy of 1% - 8% on the asset value in excess of a particular dollar amount. [...]
The season of giving is upon us! Did you know that approximately 1/3 of all charitable giving occurs in December each year? As you are considering your year-end donations, we wanted to provide you with tax strategies to optimize your tax benefits. You may be uncertain if there are still tax advantages to charitable giving [...]
You have worked hard your whole life to build up a substantial IRA nest egg and want to leave your heirs with a legacy. With a traditional “custodial” IRA, once you (the IRA owner) die, your beneficiaries are free to do whatever they want with your money. They can be responsible and withdraw only the [...]
Have you recently looked into the cost of purchasing a health insurance policy? If you did, were you surprised by all the jargon you had to sift through as you examined your options? You probably asked yourself, “What’s the difference between an HMO and a PPO plan?”, “What’s considered a reasonable deductible?” and most importantly, [...]
