Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. The middle of the year is...
The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA did not repeal these taxes, it did significantly reduce the...
In 2017, total U.S. household consumer debt reached $13 trillion. Non-mortgage debt (car loans, student loans, credit cards, and so on) was reported by 71% of American workers. Only 31% of workers with non-mortgage debt were saving outside the workplace for retirement, compared with 69%...
Identity theft is not just a consumer problem. Criminals steal the identities of businesses, too. In addition to filing fraudulent tax returns, criminals assume the identities of companies to apply for credit, impersonate authorized users, and empty bank accounts. Here are five ways you can...
Business owners generally prefer to work with entities they know and trust, but related-party transactions can provide opportunities for individuals to act in a manner that is inconsistent with the interests of shareholders. That is why auditors take pains to identify and properly address related-party...
Workplace safety is more than just the law; it makes good business sense. A safe workplace enables well-trained, motivated employees to stay on the job and be productive. In turn, this helps their employer operate more cost-effectively. Of course, in the day-to-day grind of getting their...
Whether it is in the business, government, or non-profit sector, ethics seem to be on everyone’s minds these days. To make sure your supporters and community understand your nonprofit organization’s values and the policies that uphold them, a formal code of ethics is essential. Here...
Some business owners, particularly those who founded their companies, may find it hard to give up control to a successor. Maybe you just cannot identify the right person internally to fill your shoes. While retirement is not in your immediate future, you know you must...
Many Americans relocate to another state when they retire. If you are thinking about such a move, state and local taxes should factor into your decision. Income, property, & sales tax Choosing a state that has no personal income tax may appear to be the best option,...
Backdated stock options can be particularly lucrative for the executives who receive them. However, companies must be careful about how they award them. It is fraud when options are backdated without telling shareholders or when companies change documents such as board meeting minutes or board...