A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable estate planning…Read More
Blog
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Feeling lucky? How to find a pot of gold in your financials
Every business experiences occasional cash shortages. When this happens, owners often assume they should go out and sell more. But this strategy can sometimes compound money troubles…Read More
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Keeping a trust a secret could violate state law
If your estate plan includes one or more trusts, you may have a good reason for wanting to keep them a secret. For example, you may be…Read More
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5 estate planning tips for the sandwich generation
The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the…Read More
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What is job cost reporting?
Custom jobs require ongoing supervision to achieve the best financial results. Whether you’re a general contractor constructing a strip mall, a manufacturer building made-to-order parts or an…Read More
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A joint home purchase can ease estate tax liability
If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability,…Read More
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For-profit vs. not-for-profit: Compare and contrast financial reporting goals
As the term suggests, for-profit companies are driven primarily by one goal — to maximize profits for their owners. Nonprofits, on the other hand, are generally motivated…Read More
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Follow IRS rules to ensure you receive your charitable tax deductions
If reducing your taxable estate is an important estate planning goal, making lifetime charitable donations can help achieve that goal and benefit your favorite organizations. In addition,…Read More
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Fixed vs. variable costs: How to compute break-even
Break-even analysis can be useful when investing in new equipment, launching a new product or analyzing the effects of a cost reduction plan. The break-even point is…Read More
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Only certain trusts can own S corporation stock
S corporations must comply with several strict requirements or risk losing their tax-advantaged status. Among other things, they can have no more than 100 shareholders, can have…Read More