The end of 2010 will bring an end to a host of new and changing estate and gift tax rules the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 put into action. Alas, effective only in 2010 is the act’s repeal of the estate and generation-skipping transfer (GST) taxes and change in the maximum gift tax rate.

In 2011, after EGTRRA’s sunset, the transfer tax rules are scheduled to revert back to pre-EGTRRA status ($1 million exemption and maximum 55 percent tax rate for gift, estate and GST taxes). Read More

We recently corresponded with alliantgroup’s Dean Zerbe, former Senior Tax Counsel to the Senate Finance Committee.  Here is a summary of his take on upcoming tax legislation. Read More

If you currently cover your employees with health coverage, you will find a big smile planted on your face when you read how the new health care law might put money in your pockets, starting right now. And you may not have to make a single change in business practice to get your money. Read More

The Financial Accounting Standards Board (FASB) has issued FASB Interpretation No. 48 (FIN 48), “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109,” to address how companies should account for uncertainties in timing and permanent income tax positions.  Many companies seem to have the wrong mindset about the implementation process.  They view this process as one big headache.  Read More

In a downturned economy, operating inefficiencies can push shaky companies over the edge. On the other hand, healthy supply chain management can help avoid inefficiencies. A strong system displays these chief characteristics: Read More

Internal controls are a system of policies and procedures businesses put in place to protect assets and improve operating efficiency. Internal controls specify how companies direct, monitor and measure their resources. Moreover, they are your borrowers’ first line of defense against fraud. Read More

Forget net income and book net worth. When it comes to monitoring creditworthiness, cash is king. Every business experiences occasional cash shortfalls — that’s why they need lines of credit — but borrowers with chronic cash deficits may be on the brink of default. Read More

As a business valuation professional, I regularly appraise the value of privately-held companies. Difficult economic conditions require that we carefully study the unique facts and circumstances of the subject-company. Not every business can be “painted with the same brush”.

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Sophisticated charitable giving techniques can allow donors to accomplish a number of philanthropic, family and tax objectives. The tools available include:

• Charitable remainder trusts
• Charitable gift annuities
• Testamentary gifts
• Family foundations
• Charitable lead trusts

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For most individuals, social security retirement benefits can play a key role in figuring the right age for retirement, and maximizing income during later years. While social security will not usually be the only source of retirement income, the benefits can be substantial. Read More