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July 22, 2022
How Taxes Affect Merger and Acquisition Transactions

Despite merger and acquisition (M&A) activities being lower in 2022, reports suggest that businesses are still successfully sold. If you're considering an M&A with another company, it’s essential that you know the tax implications of your transaction under current law. M&A Transactions: Stocks vs. Assets From a tax perspective, merger and acquisition transaction structures can […]

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June 29, 2022
4 Essential Estate Planning Documents College-Aged Children Need

If your child is off to college this year, have you already set up a basic estate plan for them? If not, you're part of the majority that answers "no" to this question. Fortunately, with summer break already here, you can take this time to sit down with an estate planning attorney to create a […]

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June 28, 2022
Getting to the Bottom of Hidden Details in Financial Statement Footnotes

You only get part of the big picture if you only look at the numbers. Reading comprehensive footnote disclosures gives valuable insight into your company's operations. These disclosures are located at the bottom of financial statements that have been reviewed and audited. Key details often get overlooked because most individuals just scan these notes instead […]

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June 27, 2022
Are Social Security Benefits Taxable?

For some new Social Security recipients, it comes as a shock when they see their benefits taxed by the federal government. Will this be the same for you? Maybe, maybe not.  Whether you have to pay taxes on your benefits depends on your other income. In situations where your income is high, you can expect […]

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June 24, 2022
How Owning a Family Business Complicates Estate and Business Succession Planning

For small business owners, planning their estates and their companies' succession often overlap. If your venture is family owned and operated, a significant portion of your assets is invested in your business.  Comprehensive estate planning is essential to ensure your organization continues after your passing. Failing to take the proper steps in preparing your company […]

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June 21, 2022
Is the Time Right for a Roth Conversion?

A downturn in the stock market may cause the value of your retirement account to decrease. However, if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Roth vs. traditional IRAs Roth IRAs differ […]

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June 18, 2022
Businesses Must Prepare for the 1099-K Filing Threshold Decrease in 2022

When issuing reporting forms for 2022, businesses may be submitting additional worker information due to recent reporting range changes. At the start of this year, the income threshold for filing Form 1099-K (Payment Card and Third-Party Network Transactions) was significantly decreased, increasing the likelihood that larger numbers of businesses and workers may receive this document, […]

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June 15, 2022
CLTs: The Leading Charitable Trust Option for Philanthropists

If you are interested in donating assets to a charity you support but don't want to permanently give up this property, consider a charitable lead trust (CLT). This trust functions as an alternative to charitable remainder trusts (CRTs).  CLTs revert your donated assets to your family instead of the charity after a specified amount of […]

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