Could the AMT boost your 2017 tax bill?
A fundamental tax planning strategy is to accelerate deductible expenses into the current year. This typically will defer (and in some cases permanently reduce) your taxes. But there are exceptions. One is if the additional deductions this year trigger the alternative minimum tax (AMT). Complicating matters for 2017 is the fact that tax legislation might […]
The ins and outs of tax on “income investments”
Many investors, especially more risk-averse ones, hold much of their portfolios in “income investments” — those that pay interest or dividends, with less emphasis on growth in value. But all income investments aren’t alike when it comes to taxes. So it’s important to be aware of the different tax treatments when managing your income investments. […]
Retirement savings opportunity for the self-employed
Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored 401(k)? There’s still time to set up such a plan for 2017, and it generally isn’t hard to do. So […]
A charitable remainder trust can provide a multitude of benefits
If you’re charitably inclined but concerned about having sufficient income to meet your needs, a charitable remainder trust (CRT) may be the answer. A CRT allows you to support a favorite charity while potentially boosting your cash flow, shrinking the size of your taxable estate, reducing or deferring income taxes, and enjoying investment planning advantages. […]
The write stuff: A letter of instructions
When you draft an estate plan, the centerpiece is your will or living trust. Such a document determines who gets what, where, when and how, as well as tying up the loose ends of your estate. A valid will or living trust can be supplemented by other legally binding documents, such as trusts (or additional […]
4 tips on making your marketing emails a blast
No business owner wants to send out spam. Even the term “email blast,” the practice of launching a flurry of targeted messages at customers and prospects, has mixed connotations these days. Yet email remains a viable and even necessary communications channel. Here are four tips on making your marketing emails a blast (in the fun […]
Fortifying your business with enterprise risk management
Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves and wild animals by fortifying their entire communities with walls and towers. Today’s business owners can take a similar approach with enterprise risk management (ERM). Assessing threats In short, ERM is an integrated, companywide system of identifying and planning for […]
Boardroom and management diversity adds value
Diversity in a company’s board of directors and its management team helps enhance corporate value. The Securities and Exchange Commission (SEC) already requires limited disclosures on boardroom diversity and has plans to expand these disclosures in the future — but diversity isn’t just for public companies. Private companies can benefit from more diverse insights, […]
4 questions to guide your prospective financial statements
CPAs don’t just offer assurance services on historical financial results. They can also prepare prospective financial statements that predict how the company will perform in the future. This list of questions can help you make more meaningful assumptions for your forecasts and projections. 1. How far into the future do you want to plan? […]
How to maximize deductions for business real estate
Currently, a valuable income tax deduction related to real estate is for depreciation, but the depreciation period for such property is long and land itself isn’t depreciable. Whether real estate is occupied by your business or rented out, here’s how you can maximize your deductions. Segregate personal property from buildings Generally, buildings and improvements […]
