Avoid Pitfalls When Splitting Gifts With Your Spouse
The annual gift tax exclusion allows you to transfer up to $15,000 per beneficiary gift-tax-free for 2020, without tapping your lifetime gift and estate tax exemption. And you can double
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Establishing Your Company’s Risk Appetite
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently published new guidance on how companies can promote ‘risk appetite’ as part of decision-making. It is especially relevant in
IRS Addresses Physical Presence Requirement For Retirement Plan Signatures
Under IRS regulations regarding electronic consents and elections, if a signature must be witnessed by a retirement plan representative or notary public, it must be witnessed ‘in the physical presence’
Why You Do Not Need High-Tech Tools To Find Fraud
New technologies, including artificial intelligence and machine learning, increasingly are being applied to the old problem of occupational fraud. But in most circumstances, common accounting tools — ‘variance analysis’ and
Returning Erroneous Economic Impact Payments
The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new report. These are the payments being sent
Parcel Delivery Theft & How to Protect Your Purchases
Even before the COVID-19 pandemic struck, Americans received a lot of packages. About 18 billion parcels were shipped in the United States in 2018, according to Pitney Bowes, and the
A Nonworking Spouse Can Still Have An IRA
It is often difficult for married couples to save as much as they need for retirement when one spouse does not work outside the home — perhaps so that spouse
Does Your Company Have An Emergency Succession Plan?
For business owners, succession planning is ideally a long-term project. You want to begin laying out a smooth ownership transition, and perhaps grooming a successor, years in advance. And you
Just Released: ACFE Non-Profit Fraud Report
Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud. The recently released Report to the Nations:
Adding Vehicles to Your Living Trust
Using a revocable trust — sometimes referred to as a “living trust” — is a common estate planning strategy to manage one’s assets during life and to avoid probate at