Complex accounting estimates — such as allowances for doubtful accounts, impairments of long-lived assets, and valuations of financial and nonfinancial assets — have been blamed for many…Read More
Blog
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Provide for family members with special needs using an SNT
If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being…Read More
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Hidden liabilities: What’s excluded from the balance sheet?
Financial statements help investors and lenders monitor a company’s performance. However, financial statements may not provide a full picture of financial health. What’s undisclosed could be just…Read More
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Have you made your burial wishes clear?
It may be difficult to consider, but funeral arrangements are a critical component of your estate plan. Failure to clearly communicate your wishes regarding the disposition of…Read More
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Transitioning to remote audits
Are you comfortable communicating electronically with your auditors? If so, a logical next step might be to transition from on-site audit procedures to a more “remote” approach….Read More
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Double duty giving with charitable gift annuities
If you’re charitably inclined, you may wish to consider a charitable gift annuity. It can combine the benefits of an immediate income tax deduction and a lifetime…Read More
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Consider these financial reporting issues before going private
Issuing stock on the public markets isn’t right for every business. Some public companies decide to delist — or “go private” — often due to the high…Read More
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21st century estate planning accounts for digital assets
Even though you can’t physically touch digital assets, they’re just as important to include in your estate plan as your material assets. Digital assets may include online…Read More
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Is it time to adopt the new hedge accounting principles?
Implementing changes in accounting rules can be a real drag. But the new hedge accounting standard may be an exception to this generality. Many companies welcome this…Read More
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Basis consistency rules may come into play if you’re administering an estate or inheriting property
When it comes to tax law changes and estate planning, the substantial increases to the gift and estate tax exemptions under the Tax Cuts and Jobs Act…Read More