The start of each year might be considered ‘Double IRA’ season. Until mid-April (the 15th in 2019), you still can make contributions to an individual retirement account (IRA) for 2018, if you have funds you would like to save for retirement. Most workers and their...
Individuals: Make a payment of your estimated tax for 2018 if you did not pay your income tax for the year through withholding (or did not pay enough in tax that way). Use IRS Form 1040-ES. This is the final installment date for 2018 estimated...
A business can suffer economic damages arising from a variety of illegal conduct. Common examples include breach of contract, patent infringement, and commercial negligence. If your company finds itself headed to court looking to recover lost profits, diminished business value, or both, it is important...
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it is generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they will...
Non-profits that direct and benefit from the actions of their volunteers can be held accountable if those individuals are harmed or harm others on the job. Lawsuits involving volunteers often arise from allegations of negligence or intentional misconduct, even when volunteers act outside the scope...
Estate planning aims to help individuals achieve several important goals — primary among them, transferring wealth to loved ones at the lowest possible tax cost. However, if you have creditors, you need to be aware of how fraudulent transfer laws can affect your estate plan....
Motivation. It is a relatively simple word but encouraging it among your employees can be a challenge. Maybe that is because, fundamentally, enthusiasm must come from within. It is not something you can implant in someone externally. For this reason, employers sometimes need to get...
The Financial Accounting Standards Board (FASB) recently gave private companies long-awaited relief from one of the most complicated aspects of financial reporting — consolidation of variable interest entities (VIEs). Here are the details. Old rules Accounting Standards Codification (ASC) Topic 810, Consolidation, was designed to prevent companies...
Defining “ultrahigh net worth” as more than $30 million, the Hong Kong area leads the world, with a wealthy population more than 10,000. New York (more than 8,800) and Tokyo (more than 6,700) are next. Other U.S. cities in the top 10 are Los Angeles...
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2), & 457(c)(1) plans: $19,000 (up from $18,500) Contributions to defined contribution plans: $56,000 (up from $55,000) ...