INTRAFAMILY LOANS AND A FAMILY BANK

By | December 14th, 2020|Accounting and Auditing, Estate planning, Retirement, Taxation|

Among the primary goals of estate planning is to put in writing how you want your wealth distributed to loved ones after your death.  But what if you want to use that wealth to help a family member in need while you’re still alive?  This has become an increasingly common and pressing issue this year [...]

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CATCHING UP ON CATCH-UP CONTRIBUTIONS

By | November 16th, 2020|Accounting and Auditing, Estate planning, Retirement, Taxation|

When it comes to retirement planning, many people tend to focus on two things: opening a retirement savings account and then eventually drawing funds from it.  However, there are other important aspects to truly doing everything you can to grow your nest egg. One of them is celebrating your 50th birthday.  This is because those [...]

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TALKING ABOUT THE SANDWICH GENERATION

By | October 26th, 2020|Accounting and Auditing, Estate planning, Retirement, Taxation|

The term “sandwich generation” was originally coined to describe Baby Boomers caught between caring for their aging parents and their children.  Now the term applies to whichever generation happens to be grappling with the problem.  If you’re in the middle part of the sandwich, one thing that can help is having one or more honest [...]

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THE PROS AND CONS OF NQDC PLANS

By | October 5th, 2020|Estate planning, Retirement, Uncategorized|

Nonqualified deferred compensation (NQDC) plan allow participants to set aside large amounts of tax-deferred compensation while enjoying the flexibility to schedule distributions to align with their financial goals.  However, the plans also pose substantial risks.  If your (or a prospective) employer offers an NQDC plan, or you’re considering one for your business, weigh the pros [...]

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BENEFIT WITH A TWIST: THE ROTH 401(K)

By | May 20th, 2020|Accounting and Auditing, Retirement, Taxation, Uncategorized|

Most everyone has heard of a 401(k) plan, and a sizable number of adults likely have at least a passing familiarity with the Roth IRA.  What remains less well known among job candidates and employees is the Roth 401(k) plan.  This retirement benefit with a twist might be worth offering to your staff, so long [...]

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THE 2019 GIFT TAX RETURN DEADLINE IS ALMOST HERE, TOO

By | March 2nd, 2020|Accounting and Auditing, Business, Estate planning, Retirement|

Most people have April 15 “tattooed on the brain” as the deadline for filing their federal income tax returns.  What you may forget is that the gift tax return deadline is one the very same date.  So, if you made large gifts to family members or heirs last year, it’s important to determine whether you’re [...]

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