Do you need to file a 2016 gift tax return by April 18?
Last year you may have made significant gifts to your children, grandchildren or other heirs as part of your estate planning strategy. Or perhaps you just wanted to provide loved ones with some helpful financial
What you need to know about the tax treatment of ISOs
Incentive stock options allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the grant date. If the stock appreciates, you
Envision your advisory board before you form it
Many companies reach a point in their development where they could benefit from an advisory board. It’s all too easy in today’s complex business world to get caught up in an “echo chamber” of ideas
Is annual financial reporting enough?
Businesses generally issue year-end financial statements to let investors and lenders evaluate their financial health. But proactive stakeholders — including the company’s CEO and board of directors — may want more than one “snapshot” per
FASB approves one-step goodwill impairment test
In January, the Financial Accounting Standards Board (FASB) issued updated guidance to simplify goodwill impairment testing for public companies and private companies that haven’t taken advantage of the simplified reporting option for goodwill. Here are
PTO banks: A smart HR solution for many companies
“I’m taking a sick day!” This familiar refrain usually is uttered with just cause, but not always. What if there were no sick days? No, we’re not suggesting employees be forced to work when they’re
2016 higher-education tax breaks can save your family taxes
Was a college student in your family last year? Or were you a student yourself? You may be eligible for some valuable education tax breaks on your 2016 return. To max out your higher education
Ready, set, audit
If your business issues audited financial statements and follows a calendar year end, your external auditing procedures have already begun. At a minimum, you’ve signed an engagement letter, sent over preliminary financial statements and allowed
Is your business committed to its cost-control regimen?
At the beginning of the year, many people decide they’re going to get in the best shape of their lives. Similarly, many business owners declare that they intend to seriously address cost control and operate
The investment interest expense deduction: Less beneficial than you might think
Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But
Succession planning and estate planning must go hand in hand
As the saying goes, nothing lasts forever — and that goes for most companies. Then again, with the right succession plan in place, you can do your part to ensure your business continues down a
Deduction for state and local sales tax benefits some, but not all, taxpayers
Deduction for state and local sales tax benefits some, but not all, taxpayers The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income
