An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to…Read More
Blog
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IRS issues guidance to ease transition to FASB’s new revenue recognition rule
In 2014, a new accounting standard on how to recognize revenue from contracts was issued by the Financial Accounting Standards Board (FASB). Now the IRS is allowing…Read More
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If charitable giving is part of your estate plan, consider a donor-advised fund
Do you make sizable gifts to charitable causes? If you’re fortunate enough to afford it, you can realize personal rewards from your generosity and may be able…Read More
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What’s all the buzz about XBRL?
The Securities and Exchange Commission (SEC) requires public companies to provide their financial statements in the eXtensible Business Reporting Language (XBRL) format as an exhibit to their…Read More
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Your original will: Does your family know where to locate it?
In a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it comes to your last will and testament,…Read More
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Profits: How low can you go?
If your profits are falling compared to revenue and assets, your financial statements may provide insight into what’s happening and how to improve your performance. Watch for…Read More
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Provide for your spouse, then your kids, with a QTIP trust
If you want to preserve as much wealth as possible for your children, but you leave property to your spouse outright, there’s no guarantee your objective will…Read More
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Effectively communicating with the audit committee
CFOs and other executives occasionally present information about the company’s operations, strategies and risks to the audit committee. Your presentation will generally be most effective if you…Read More
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Beware IRD if you’ve received an inheritance
Most people are genuinely appreciative of inheritances. But sometimes it may be too good to be true. While inherited property is typically tax-free to the recipient, this…Read More
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Get ready for the new lease standard
A new accounting rule for reporting leases goes into effect in 2019 for public companies. Although private companies have been granted a one-year reprieve, no business should…Read More