529 savings plan

Save More for College Through a 529 Savings Plan

Any time is a good time for parents (and grandparents) to think about college funding. One option, which can be especially beneficial if the children in question still have many years until they’ll be starting their higher education, is a…
tax planning buying business

Tax Planning is Critical when Buying a Business

If you acquire a company, your to-do list will be long, which means you can’t devote all of your time to the deal’s potential tax implications. Tax planning is critical when buying a business. If you neglect tax issues during the negotiation…
employee meals IRS deduction

Providing Employee Meals Could Mean a Larger IRS Deduction

When businesses provide meals to their employees, generally their deduction is limited to 50%. But there are exceptions, for example, when the meal qualifies as a de minimis fringe benefit under the Internal Revenue Code. If you qualify, providing…
IRS W-2 Verification Code

TAX RETURN SECURITY: IRS W-2 VERIFICATION CODE

TAX RETURN SECURITY: For the 2017 tax year the IRS will be testing a W-2 verification code to increase security when filing tax returns. Tax preparers and those preparing their own returns are urged to enter this code when filing out the W-2…
Roth IRA Conversion

Yes, You Can undo a Roth IRA Conversion

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions…
Tax Basis Planning

Estate Taxes not a Factor? Consider Tax Basis Planning

For many people today, income tax planning offers far greater tax-saving opportunities than gift and estate tax planning. A record-high gift and estate tax exemption — currently $5.49 million ($10.98 million for married couples) — means…
profitable customers

How Profitable are your Customers?

“We love our customers!” Every business owner says it. But all customers aren’t created equal, and it’s in your strategic interest to know which profitable customers are strengthening your bottom line and by how much. Sorting out…
Digital Disruption

5 Ways to Dance Through Digital Disruption

You’ve probably heard the term and wondered whether it could happen to your company. Maybe it already has. We’re referring to “digital disruption” — when new technologies and business models affect the value proposition of existing…
Estate Tax Deferral

Estate Tax Relief for your Family Business is Available...in the Form of a Deferral!

If a substantial portion of your wealth is tied up in a family or closely held business, you may be concerned that your estate will lack sufficient liquid assets to pay federal estate taxes. If that’s the case, your heirs may be forced to…
revocable trust

Have You Properly Funded your Revocable Trust?

If your estate plan includes a revocable trust — also known as a “living” trust — it’s critical to ensure that the trust is properly funded. Revocable trusts offer significant benefits, including asset management (in the event you…