Debate continues in Congress over proposed tax changes
October 15, 2021 Knowledge Center
Debate continues in Congress over proposed tax changes

Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back Better Act (BBBA) and the Bipartisan Infrastructure Bill (BIB), also known as the Infrastructure Investment and Jobs Act. The final provisions remain to be seen, but the BBBA and, to […]

EVENT: National Association of Federal Equity Receivers (NAFER) Annual Conference
October 13, 2021 Resources
EVENT: National Association of Federal Equity Receivers (NAFER) Annual Conference

October 21-23, 2021 in Marina del Rey, CA | We are proud to sponsor this year’s National Association of Federal Equity Receivers (NAFER) Annual Conference. Throughout the conference, attendees can attend educational sessions focused on the issues facing the receivership industry today, and network with fellow receivers, attorneys, judges, and regulators. The National Association of […]

Don’t forget to take state estate taxes into account
October 11, 2021 Knowledge Center
Don’t forget to take state estate taxes into account

A generous gift and estate tax exemption means only a small percentage of families are currently subject to federal estate taxes. But it’s important to consider state estate taxes as well. Although many states tie their exemption amounts to the federal exemption, several states have exemptions that are significantly lower — in some cases $1 […]

Double-check the rules on spousal consent for 401(k) distributions
October 8, 2021 Knowledge Center
Double-check the rules on spousal consent for 401(k) distributions

Some 401(k) plans require spousal consent whenever a participant takes a distribution. Others don’t require spousal consent for distributions or loans. Rather, it’s required only if a participant wants to designate a primary beneficiary other than his or her spouse. Such variations in plan design may leave an employer’s HR staff uncertain about when they […]

Related-party transactions draw attention from auditors
October 7, 2021 Knowledge Center
Related-party transactions draw attention from auditors

Related-party transactions and financial connections are a normal part of operating a business. But these arrangements have gotten a bad rap because dishonest people sometimes use them to disguise poor performance or dishonest activities. So, identifying related parties and evaluating your interactions with them are important parts of the external audit process — especially in […]

The tax score of winning
October 4, 2021 Knowledge Center
The tax score of winning

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re lucky enough to win, be aware that tax consequences go along with your good fortune. Review the tax rules Whether you win […]

Information Security for Entertainment Advisors | The changing nature of security in 2021
October 1, 2021 Resources
Information Security for Entertainment Advisors | The changing nature of security in 2021

We teamed up with Trusted Advisor to offer this 10-page resource for how business management firms and entertainment advisors can tackle one of today’s biggest challenges – information security.

Employers: Will your health insurance be “affordable” in 2022?
September 28, 2021 Knowledge Center
Employers: Will your health insurance be “affordable” in 2022?

In Revenue Procedure 2021-36, the IRS recently announced an important indexing adjustment related to the Affordable Care Act (ACA). Now is a good time to review whether your organization is an applicable large employer (ALE) under the ACA and, if so, whether the health care coverage you offer employees will still be considered “affordable” next year. […]

3 essential estate planning strategies not to be ignored
September 28, 2021 Knowledge Center
3 essential estate planning strategies not to be ignored

With most tax planning, there are certain strategies that are generally effective and shouldn’t be ignored. The same holds true for estate planning. Here are three essential estate planning strategies to consider that may help you achieve your goals. 1. Use an ILIT to hold life insurance  Do you own an insurance policy on your […]

Is your power of attorney for property powerful enough?
September 27, 2021 Knowledge Center
Is your power of attorney for property powerful enough?

Your estate plan may include a power of attorney for property that appoints another person to manage your investments, pay your bills, file your tax returns and otherwise handle your property if you’re unable to do so. But not all powers of attorney are created equal. Thus, it’s a good idea to periodically review your […]

3 ways fraud experts use data analytics
September 27, 2021 Knowledge Center
3 ways fraud experts use data analytics

Forensic accountants have long used technological tools to uncover fraud schemes. But recent advances in “big data” have provided even better, more efficient techniques for identifying suspicious activities and dishonest employees. These are three common types of data analytics used by fraud experts: 1. Association analysis This method can help identify suspicious relationships by quantifying […]

No disaster scammer is safe from the NCDF
September 27, 2021 Knowledge Center
No disaster scammer is safe from the NCDF

What do COVID-19, major hurricanes and West Coast wildfires have in common? All three have attracted scam artists, who have bilked disaster victims, charitable donors, insurance companies and government agencies out of billions of dollars. Also, all of these disasters — and the criminals who take advantage of them — are the focus of The […]