Make your legacy last by educating your children about wealth management
January 11, 2021 Knowledge Center
Make your legacy last by educating your children about wealth management

If you’ve worked to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your legacy alive. Teaching techniques There’s no one right way to teach your children about money. The best […]

Prevent and detect insider cyberattacks
January 8, 2021 Knowledge Center
Prevent and detect insider cyberattacks

In one recent cybercrime scheme, a mortgage company employee accessed his employer’s records without authorization, then used stolen customer lists to start his own mortgage business. The perpetrator hacked the protected records by sending an email containing malware to a coworker. This particular dishonest worker was caught. But your company may not be so lucky. […]

The Complex Importance of Basis in Partnerships
January 7, 2021 Knowledge Center
The Complex Importance of Basis in Partnerships

by Nicky Lipset, CPA   You may think of basis mainly in terms of selling an interest in stock or selling a house, but there are many implications of basis in diverse transactions. Keeping track of basis, in partnerships specifically, is important as it can create tax implications based on various factors. Below are some […]

Igal Khoshlesan Promoted to Partner at Miller Kaplan
January 5, 2021 Press Releases
Igal Khoshlesan Promoted to Partner at Miller Kaplan

Miller Kaplan, a top-100 certified public accounting firm, is pleased to announce that Igal Khoshlesan, CPA has been promoted to partner. Khoshlesan, with more than 15 years of public accounting experience, specializes in employer compliance and audit and assurance services for employee benefit plans and nonprofit organizations. “Igal has proven to be a steadfast resource […]

De-risking your pension plan through a lift-out
December 31, 2020 Knowledge Center
De-risking your pension plan through a lift-out

Private sector employers have been retreating from the defined benefit (DB) pension model of retirement plans for decades. This is largely motivated by a desire to “de-risk” the organization from an uncertain, long-term financial obligation. The COVID-19 pandemic has also caused many sponsors of DB plans to consider the costs involved in their pensions. One […]

Your taxpayer filing status: You may be eligible to use more than one
December 29, 2020 Knowledge Center
Your taxpayer filing status: You may be eligible to use more than one

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried […]

2021 Payroll Tax Chart
December 29, 2020 Resources
2021 Payroll Tax Chart

Federal and California

ICFR assessment and attestation: Are you in compliance with the rules?
December 29, 2020 Knowledge Center
ICFR assessment and attestation: Are you in compliance with the rules?

Each year, public companies must assess the effectiveness of their internal controls over financial reporting (ICFR) under Section 404(a) of the Sarbanes-Oxley Act (SOX). In some cases, private companies should follow suit. In addition, a public company’s independent auditors are generally required to provide an attestation report on management’s assessment of ICFR under Sec. 404(b); however, […]

The Coronavirus Response and Relief Supplemental Appropriations Act Heralds Many Tax Changes
December 28, 2020 COVID-19
The Coronavirus Response and Relief Supplemental Appropriations Act Heralds Many Tax Changes

By Nicholas Sanchez, J.D., LL.M. Taxation   Sunday night, December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, H.R. 133, Division M of which includes the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (“CRRSAA” or “the Act”). The Act contains many tax provisions, one of the most anticipated being clarification on the […]

The next estimated tax deadline is January 15 if you have to make a payment
December 23, 2020 Knowledge Center
The next estimated tax deadline is January 15 if you have to make a payment

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The fourth 2020 estimated tax payment deadline for individuals is Friday, January 15, 2021. Even if you do have some withholding from paychecks or payments you […]

With a flick of the switch: Build an on-off mechanism into your estate plan
December 23, 2020 Knowledge Center
With a flick of the switch: Build an on-off mechanism into your estate plan

When planning your estate, it’s critical to balance estate tax planning and income tax planning. The rub is that, currently, strategies for reducing estate taxes generally focus on removing assets from your estate, while strategies for reducing income taxes generally focus on including assets in it. Even if you have an estate plan in place that’s tax-smart now, changes […]