Take Advantage of the Gift Tax Exclusion Rules
October 3, 2019 Knowledge Center
Take Advantage of the Gift Tax Exclusion Rules

As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual federal gift tax exclusion. The amount is adjusted for inflation annually. For […]

Cash Balance Plans Offer an Intriguing Pension Possibility
September 27, 2019 Knowledge Center
Cash Balance Plans Offer an Intriguing Pension Possibility

Pension plans aren’t as popular as they used to be. For years now, employers have been moving from defined benefit plans (pensions) to defined contribution plans such as 401(k)s. But one type of hybrid pension that remains relatively popular is the cash balance plan. Examining the concept With a cash balance plan, the employer commits […]

Uncle Sam May Provide Relief from College Costs on Your Tax Return
September 25, 2019 Knowledge Center
Uncle Sam May Provide Relief from College Costs on Your Tax Return

We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities — and $35,830 for students at private not-for-profit four-year institutions. These amounts don’t include room and board, books, supplies, transportation […]

Keeping It Real: How SD-3C Fights Counterfeit SD Memory Cards
September 18, 2019 Knowledge Center
Keeping It Real: How SD-3C Fights Counterfeit SD Memory Cards

By: Michael Quackenbush Original article published on sdcard.org. Most people in the world are decent, upstanding citizens who obey the rules – but not everyone is. That’s why we have institutions and organizations, both public and private, that ensure rule-benders aren’t getting away with misappropriation or illicit activity. In the technology sector, one of those […]

For Best Results, Start Your Strategic Planning Early
September 13, 2019 Knowledge Center
For Best Results, Start Your Strategic Planning Early

Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are some ways to get started. Begin with your financials […]

Getting a Divorce? There Are Tax Issues You Need to Understand
September 11, 2019 Knowledge Center
Getting a Divorce? There Are Tax Issues You Need to Understand

In addition to the difficult personal issues that divorce entails, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are four issues to understand if you are in the process of getting a divorce. Alimony or support payments. For […]

Control How Your Charitable Gifts are Used by Adding Restrictions
September 7, 2019 Knowledge Center
Control How Your Charitable Gifts are Used by Adding Restrictions

If philanthropy is an important part of your estate planning legacy, consider taking steps to ensure that your donations are used to fulfill your intended charitable purposes. Outright gifts can be risky, especially large donations that will benefit a charity over a long period of time. Even if a charity is financially sound when you […]

Employers Can Truncate SSNs on Employees’ W-2s
August 29, 2019 Knowledge Center
Employers Can Truncate SSNs on Employees’ W-2s

The IRS recently issued final regulations that permit employers to voluntarily truncate employee Social Security Numbers (SSNs) on copies of Forms W-2 furnished to employees. The purpose of the regs is to aid employers’ efforts in protecting workers from identity theft. Proposals and comments On September 20, 2017, the IRS issued proposed regs on the […]

Taking Distributions From Your Traditional IRA
August 22, 2019 Knowledge Center
Taking Distributions From Your Traditional IRA

If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for withdrawals from these retirement-savings vehicles. Knowing the fine points of the IRA distribution rules can make a significant difference in how much you and your family […]

Understanding the Contents of a Will
August 20, 2019 Knowledge Center
Understanding the Contents of a Will

You probably don’t have to be told about the need for a will. But do you know what provisions should be included and what’s best to leave out? The answers to those questions depend on your situation and may depend on state law. Basic provisions Typically, a will begins with an introductory clause, identifying yourself […]

Is It Time to Hire a CFO or Controller?
August 16, 2019 Knowledge Center
Is It Time to Hire a CFO or Controller?

Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore. If you can relate to the feeling, it may be time to add […]

“Innocent Spouses” May Get Relief from Tax Liability
August 15, 2019 Knowledge Center
“Innocent Spouses” May Get Relief from Tax Liability

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. Therefore, the IRS can come after either spouse to collect the entire tax — not just the part that’s attributed to one spouse or the other. This includes […]