This article explains why family businesses continue to generate 70-90% of global GDP annually. Ernst and Young reported that “the largest 500 family businesses constitute the third-largest economic contribution in the world by revenue and employ...
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This article explains the new inflation adjustments that are being made by the IRS issued through Rev. Proc. 2021-45. The IRS also cautioned that “with legislation pending in Congress that might affect 2022 tax returns, taxpayers should consult...
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Valeria Alterman and Ariane Froidevaux delve into research on various retirement options for small business owners. They look into their custom model of retirement decision options for small business owners to separate from their business, all...
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Too often CEOs of a company will procrastinate the succession of their company to the next generation. This may happen since the idea of retiring from a business can be too difficult to embrace. Another reason is if the CEO decides to hand off...
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This article explains why and how keeping money within the hands of the people you trust will help you in the future. Heirs could be responsible for “paying federal income taxes on either assets or retirement accounts, and if you plan poorly...
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This article discusses three dysfunctions that are commonly seen throughout family businesses. Chris Yonker, the author of the article, says that following the steps of over-achievers can be a bad way to help ensure the family business continues...
More InfoIf you’re 40 or 50 and aren’t where you’d like to be in terms of saving for retirement, don’t despair. You can remedy this situation. And since people are living well into their 80s and 90s, it’s never too late to start. Here are a few things you...
More InfoImplementing new technology for your accounting needs is a big step toward improving your business. Accounting technology helps streamline the accounting system, thereby offering various benefits. However, poor implementation can impact your...
More InfoThe House recently released a nearly 900-page proposed bill that would make major changes to current tax laws. The bill is intended in large part to help pay for both the Biden Administration’s budget and the infrastructure stimulus bill. It is...
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