Owning property jointly with an adult child or other family member is a common estate planning mistake that people make. It sounds reasonable that adding a loved one to the title of your home, bank accounts or other property can be a simple way to leave the property to that
We are halfway through the calendar year and it’s an opportune time for businesses to assess how things are going thus far. While sales may be up, there are some other good key performance indicators (KPIs) to analytically help you evaluate how well you’re doing. Here are four that can
Many people consider moving to another state when they retire. Some move for a lower cost of living, nicer weather, or to be closer to family. If you are considering this in your retirement, make sure to also think about how the state and local taxes will affect your anticipated
Dalby, Wendland & Co., P.C., is pleased to announce Spencer J. Adleman recently attained the Certified Public Accountant (CPA) designation after passing the Uniform Certified Public Accountant Examination, which is set by the American Institute of Certified Public Accountants. The Uniform CPA Examination protects the public interest by helping to
Even with the new depreciation options and Qualified Business Income deduction available in the wake of recent tax reform, there are always circumstances where a taxpayer may require additional current year deductions. With the help of another element of the Tax Cuts and Jobs Act (TCJA) taking effect in 2018,
Trust, Estate, and Gift Tax Planning If a prime objective of your estate plan is to leave a lasting legacy, a dynasty trust may be the right estate planning vehicle for you. And, thanks to the substantially increased generation-skipping transfer (GST) tax exemption amount established by the Tax Cuts and
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are detailed in the tax code, but the
CPAs typically report historical financial performance. But sometimes they’re hired to predict how a company will perform in the future. Prospective reporting options There are three types of reports to choose from when predicting future performance: Forecasts. These prospective statements present an entity’s expected financial position, results of operations and
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your high-taxed income into tax-free
