Does your business offer employees paid family and medical leave? If so, then a new general business credit may be available to you. The IRS has announced that eligible employers who provide paid family and medical leave to their employees may qualify for a new business credit for tax years 2018 and 2019. In addition,...
Hidden assets can be ghosts and zombies. A “ghost” asset is a fixed asset in a general ledger that is lost, stolen, unusable, or no longer owned by your company and cannot be accounted for. A recent business survey found that 12% to 25% of the assets in a fixed asset ledger don’t exist. Physical...
Last week the House Ways and Means Committee passed three separate bills that will be the cornerstone of what is being referred to as Tax Reform 2.0, here is what you need to know. Many provisions of the TCJA currently are scheduled to expire after 2025. The bills focus on making permanent certain provisions of...
Legacy planning and estate planning intersect. The success of both depends on your assets and the ability to manage your affairs in the most tax-efficient manner. Under Tax Reform, the federal estate and gift tax exemption has been doubled to an estimated $11.2 million per individual. If married, and you elect portability, the exemption doubles...
The tragic deaths of Anthony Bourdain and Kate Spade shed light on how unconventional some marital and family situations have become in the new millennium. Both had been separated for a lengthy time, but never legally divorced. Gwyneth Paltrow and hubby Chris Martin decided to “consciously uncouple” and co-parent their children before later divorcing. This...
