Smolin Service AreasPlanning opportunities for you and your business

The Financial Accounting Standards Board (FASB) updated its accounting standard for events that trigger an impairment test under U.S. Generally Accepted Accounting Principles (GAAP) on March 30. For private companies and not-for-profit entities adversely affected by the COVID-19 pandemic, this new, simplified alternative may provide relief. Here are a few things to know. Options for

Small business owners can save family income and payroll taxes by putting their child (or children) on the payroll. Here are a few things to know. Converting business earnings into low-taxed income Shifting some business earnings to a child as wages for services performed can turn some of your high-taxed income into tax-free or low-taxed

Your family-owned vacation home can be a relaxing refuge—especially during the COVID-19 pandemic, when options for travel are limited. However, it’s important to have a clear plan and solid ground rules that all the members of your family can agree to—otherwise, conflict and tension could ruin your vacation, or even result in the selling of

If you’re thinking about buying or replacing a vehicle for use in your business, you may want to consider choosing a heavy sport utility vehicle (SUV)—these vehicles might allow you to benefit from lucrative tax rules. 100% first-year bonus depreciation Under current law, new and pre-owned heavy SUVs, vans and pickups that are acquired and