Get Familiar with These Estate Planning Documents
Basic estate planning begins with completing documents that allow your last wishes to be carried out as you choose. But are you familiar with the documents you'll need? Here's a list of common estate planning documents and their purpose. Advance Directive. Your...
What’s New With Able Accounts?
Remember the Achieving a Better Life Experience (ABLE) Act, which was passed in 2014 and authorized tax-favored savings accounts for people with disabilities? Proposed regulations issued in 2015 provided a blueprint for creating these ABLE accounts and authorized the...
Keep Your Business Safe With Internal Controls
Employee fraud can cost your business real money — perhaps more than you may realize. A 2016 study of occupational fraud published by the Association of Certified Fraud Examiners found that small businesses accounted for approximately 30% of fraud incidents, with a...
Will You “Boomerang” After Graduating From College?
No matter your plans for your life after college graduation, the high cost of living, limited job opportunities, and considerable debt can become significant barriers to your success in achieving your goals. Other circumstances, such as a divorce or job loss, can make...
New Overtime Rule May Mean More Of Your Employees Qualify For Overtime Pay
A new overtime rule takes effect on December 1, 2016, and the Department of Labor estimates that over 4 million workers will become entitled to overtime in the first year of the change. If your employees are included in that number, now is the time to begin preparing....
Close Is Not Good Enough With New Reporting Rules
The old adage "close only counts in horseshoes" is an accurate reflection of the new IRS information reporting rules. Beginning with 2016 returns, due dates for Forms W-2 and certain Forms 1099 have been moved up, and the penalties for late or inaccurate forms...
How To Pay Yourself As A Business Owner
Are you a new business owner? You may be wondering how to pay yourself from your business. The answer depends on the way your business is set up. Here are common methods for making payments to business owners. Corporations. If you own a traditional C...
What’s Your Personal Net Worth?
Net worth is a familiar term, but you may not calculate or watch it in the same way you track your income. Yet net worth is a valuable measurement tool for overseeing your financial success. In a nutshell, net worth is total assets less total liabilities, such as...
Your Child’s Allowance Offers An Opportunity For Financial Education
Do you give your child an allowance? A recent report by the American Institute of Certified Public Accountants showed that more than two-thirds of American households provide an allowance to children, and that the allowances average $68 per month in exchange...
Reduce Fraud In Your Business With Prevention Strategies
When it comes to fraud, the old adage about a small amount of prevention being worth a large amount of cure is spot on. Investing in fraud prevention methods can be more cost-effective than spending time and money on clean-up after a fraud has been detected....