MLR

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Only 18% of individuals 55 and older say they are “very confident” they will have enough money to live comfortably throughout their retirement years.

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Unfortunately, many physician partnerships compare more to a boxing match than, well, a partnership.

Successful estate planning generally involves passing on your assets to your heirs at a low tax cost. To help achieve that goal, there are a few things to keep in mind about retirement accounts

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The IRS has announced that the annual gift tax exclusion is increasing next year due to inflation. After five years of being stuck at $14,000, the exclusion will be $15,000 per recipient for 2018 — its highest point ever.

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Comprehensive due diligence is essential if your business plans to acquire or merge with another organization. Without one, complicated implications could arise with the potential to significantly affect the profits or viability of the transaction.

Congress moved one step closer to the finish line on November 28th with the Senate Budget Committee approving its tax reform package for a vote by the full Senate in the coming days.  If passed, it would then need to be reconciled with the tax reform bill already passed by the House before a final version could be sent to the White House.

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The IRS has an Employee Plans Team Audit (EPTA) program to enforce the tax rules for employee benefit programs in large companies. According to the tax agency, one of the top ten concerns of this group of auditors is how mergers and acquisitions affect compliance with employee benefit rules. Recurring or uncorrected compliance failures can lead to tax penalties or worse — such as outright disqualification of tax-favored employee retirement and benefit programs.

As Congress moves closer to the finish line on tax reform, many clients may be asking what they should be doing right now to best position themselves for tax savings, and to avoid or soften the impact of disappearing deductions. The following offers year-end moves that can accomplish both goals.

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It may seem odd, but as soon as you start up a business, you should begin preparing the documentation needed to sell or merge with another enterprise. It may be years down the road but the records often required in today’s M&A environment can be overwhelming. If your recordkeeping has been shoddy, it can be difficult or impossible to compile the information wanted by a potential buyer or partner.

If you are one of the many Americans who are in a second marriage, you may need to revisit your estate strategy.