Timely Opportunities
Timely Opportunities
Timely Opportunities
Estate Planning Isn’t Just for the Wealthy
Thanks to today’s favorable federal gift and estate tax rules, most people haven’t amassed enough wealth to worry about federal estate taxes. However, even if you haven’t had the good fortune to win the lotto or inherit millions from a wealthy relative, you still need an estate plan to protect your assets and your loved […]
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Breakeven and Burn Rate: Valuable Tools for Managing Performance
Breakeven and burn rate have historically been used to gauge the viability of start-ups and high-tech companies that have yet to turn a profit. But these analytical tools can also be used by established businesses that are struggling to survive today’s challenging market conditions. What’s Breakeven? Breakeven analysis calculates the volume of sales at which […]
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What Can You Do to Lower Your 2023 Tax Obligation?
It’s hard to believe that 2023 is already half over. Although summer is a time for vacations and relaxing in the backyard, you can’t afford to take a break from managing your tax bill. Now is a good time to think about proactive moves that could cut your 2023 tax liability. Here are six ideas […]
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Risk Management: 8 Ways to Reduce Business Insurance Costs
How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the unexpected happens. However, higher spending doesn’t necessarily equate to better coverage. Rather than focusing on just the price, it’s important to match insurance products and coverage levels with your business’s […]
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Transfer Pricing Done Right
Today’s companies operate in a global marketplace. Many have subsidiaries, affiliates and other related companies located overseas. Transfer pricing can help multinational companies cut their tax bills. With the IRS closely scrutinizing such transactions, however, it’s critical that you understand the rules and requirements. You should also learn how an advance pricing agreement (APA) can […]
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Keeping Tax Score on NIL for Student-Athletes
College student-athletes can now get paid for certain things, under the National Collegiate Athletic Association’s (NCAA’s) so-called name, image and likeness (NIL) policy. The policy has allowed some student-athletes at large schools to make millions of dollars. But it’s important to remember that Uncle Sam must get his cut of the earnings. Here’s what you […]
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Midyear Tax Planning for Small Businesses and Owners
Summer isn’t just for barbeques and baseball. It’s also a good time to think about ways to cut your 2023 business tax bill. Here are four planning ideas for small business owners to consider, assuming there won’t be any changes to current federal tax laws at least through 2024. Which Purchases Are Eligible for Sec. […]
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Poor Planning Can Lead to Double Taxation of Trusts
Different states have different rules for determining whether a trust is a “resident” for income tax purposes. State tax liability can depend on the location of settlors, trustees or beneficiaries. In some situations, a trust could be liable for taxes in multiple states. Fortunately, you may be able to take certain steps to reduce the […]
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