After a historically calm stock market in 2017, volatility returned in 2018. In helping clients build financial plans, we start by understanding their goals and objectives. Putting this information together, along with your personal risk tolerance, helps us arrive at our recommended allocation to stocks and bonds. Foundational in all of this planning are the…
Nonqualified deferred compensation (NQDC) plans pay executives at some time in the future for services to be currently performed. If you participate in such a plan, or your business offers one as an employee benefit, it’s critical for everyone involved to abide by the applicable tax rules. Of course, in the hectic course of the…
As 2019 approaches, volatility has returned to the stock markets. With that volatility comes a feeling of insecurity as investors watch their statement values go up and down. During these times, the conventional wisdom is that diversification can help smooth out the ride. However, US stocks have outperformed non-US stocks in recent years.
For the…
The Credit for Increasing Research Activities was first enacted in 1981 and is one of the most valuable tax credits available to companies spending money on qualified research activities. Each year the R&D credit yields billions of dollars in federal and state benefits to those companies experimenting with new technologies, creating new products, implementing new…
Life Change Reviews
An extremely important component of owning a life insurance policy is periodically reviewing the coverage to make sure it is addressing your current needs. All too often, people’s lives change while their life insurance coverage remains the same — periodic reviews will ensure that your coverage is meeting your current goals.
Some…
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash?
2 benefits from 1 gift
Appreciated publicly traded…
The Tax Cuts and Jobs Act (TCJA) created more than 100 new tax provisions — a staggering thought as you begin to prepare for the next filing season. The good news is that these and some of the surviving provisions create a wealth of year-end planning opportunities.
Choose the right approach to deductions
Many taxpayers…
Every year, your audit firm will conduct a fresh risk assessment before the start of fieldwork. Why? Because your auditor wants to mitigate the risk of expressing an incorrect opinion regarding the accuracy and integrity of the company’s financial statements. Inadvertently signing off on financial statements that contain material misstatements can open a Pandora’s box…
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax Cuts and Jobs Act (TCJA), but the TCJA will reduce the number of taxpayers subject to the AMT.
Now is a good time to familiarize…
If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact.
Wins and taxable income
You must report 100% of your gambling winnings as taxable income. The value…
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