Explore all of your options when appointing the executor of your estate
The executor’s role is critical to the administration of an estate and the achievement of estate planning objectives. So your first instinct may be to name a trusted family member as executor (also referred to as a personal representative). But that might not be the best choice. Important duties Your executor has a variety […]
Going back to basics with asset protection strategies
Asset protection trusts — both offshore and domestic — can be effective vehicles for protecting your wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset protection strategies, there are several basic, yet effective, tools to consider. Some of these […]
Identify all of your company’s retirement plan fiduciaries
Your company probably offers its employees a retirement plan. If so, can you identify all of your plan fiduciaries? From a risk management perspective, it’s critical for business owners to know who has fiduciary status — and the associated liability. Here are some common, though in some cases overlooked, plan fiduciaries: Named fiduciaries. The […]
Use non-GAAP financial reporting measures with caution
The most useful metric to gauge a company’s performance isn’t necessarily net income, pretax profits or earnings per share, as defined under U.S. Generally Accepted Accounting Principles (GAAP). In some industries, investors and lenders turn to non-GAAP measures for additional information. Before relying on non-GAAP metrics, however, it’s important to understand what’s included and […]
Accounting for M&As
Many buyers are uncertain how to report mergers and acquisitions (M&As) under U.S. Generally Accepted Accounting Principles (GAAP). After a deal closes, the buyer’s postdeal balance sheet looks markedly different than it did before the entities combined. Here’s guidance on reporting business combinations to help minimize future write-offs and restatements due to inaccurate purchase […]
A difficult decision: Having an elderly parent declared incapacitated
If your elderly parent’s mental state is deteriorating to the point where he or she is unable to manage day-to-day activities, it may be time to make the difficult decision to have him or her declared incapacitated. But how do you know if such action is necessary? 2 key questions Knowing the answers to these […]
New HRA offers small employers an attractive, tax-advantaged health care option
In December, Congress passed the 21st Century Cures Act. The long and complex bill covers a broad range of health care topics, but of particular interest to some businesses should be the Health Reimbursement Arrangement (HRA) provision. Specifically, qualified small employers can now use HRAs to reimburse employees who purchase individual insurance coverage, rather […]
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2017 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. […]
