Keeping Current
As a complimentary service to our clients and friends, we offer a variety of newsletters and publications covering the latest topics of interest to you.
In this issue we address the most recent developments in federal and California legislation that will affect many businesses as well as individuals. As the recession continues to linger, the Congress renewed and enhanced some of the existing tax benefits enacted earlier this year to lend a hand to individual and corporate taxpayers on their path to recovery. Yet, a House-passed health care reform bill includes many tax crackdowns on individuals and employers. We discuss the most recent law developments in depth below. Read More »
Things to Consider
Those considering starting the estate planning process-perhaps by visiting an attorney about a will or trust-usually have one or more questions:
- Why do I need to prepare a will or trust at all?
- Do I need a living trust?
- How can I protect my young children?
- How can I protect my special needs relative?
- How do we arrange our affairs to adequately protect all sides of our blended family?
- How can I keep peace in the family after I’m gone? Read More »
Things to Consider
Traditionally, the owner of a permanent life insurance policy had one choice when he or she wanted to cash in a policy—surrender the policy and receive the cash value.
Beginning about twenty years ago, some third party companies began to offer the owners of policies on terminally ill insureds the ability to viaticate the policy. In such cases, the viatical settlement company would make an offer to the owner to purchase the policy for a substantial percentage of the policy’s death benefit. Read More »
Things to Consider
Business owners must often choose the right ownership and payment structure for the business-related life insurance coverage. In selected cases, fairly sophisticated strategies—such as financed premium, pension-owned coverage or 412 (e)(3) plans—can fit a client’s needs.
However, most instances of business-related permanent life coverage involve choosing between three nonqualified life insurance plans:
- Bonus plan
- Split dollar plan
- Key employee insurance plan
What are these, and which one is the best choice? 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”.
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
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 »