A tenancy-in-common interest can ease distribution of real estate
If your estate includes significant real estate investments, the manner in which you own these assets can have a dramatic effect on your estate plan. One versatile estate planning option to consider is tenancy-in-common (TIC) ownership. What is tenancy-in-common?
Your nonprofit may have an internal controls gap
The typical defrauded not-for-profit loses $75,000 per fraud incident, according to the Association of Certified Fraud Examiners. And that doesn’t account for the negative publicity and subsequent lost donations and support that often follow fraud.
Expanding succession planning beyond ownership
Business owners are regularly urged to create and update their succession plans. And rightfully so — in the event of an ownership change, a solid succession plan can help prevent conflicts and preserve the legacy you’ve spent years or decades building.
Getting a divorce? Be aware of tax implications if you own a business
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Tax-free property transfers
President Biden's tax plan: potential changes ahead
By Nathaniel L. Fissel, CPA, MST Member of the Firm
SEK, CPAs & Advisors Manager Named Forty Under 40 Honoree
FOR IMMEDIATE RELEASEAugust 19, 2021 SEK, CPAs & Advisors Manager Named Forty Under 40 Honoree
ABLE accounts may help disabled or blind family members
There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled.
Possible tax consequences of guaranteeing a loan to your corporation
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences.
Is your business underusing its accounting software?
Someone might have once told you that human beings use only 10% of our brains. The implication is that we have vast, untapped stores of cerebral power waiting to be discovered. In truth, this is a myth widely debunked by neurologists.
Large cash transactions with your business must be reported to the IRS
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements?