News and Events

Life Insurance is one of the best and most common ways to protect your family or business in the event of a death. Life insurance is a contract between an insurance policyholder and an insurance company to pay a specific amount to one or more beneficiaries if the insured individual passes away. This life insurance payout, or “proceeds,” is intended to provide financial stability to those left behind and is typically used to pay outstanding debts of the policyholder, as well as medical and funeral costs. Policyholders pay a monthly premium to ensure coverage over a specific amount of time. The insurance premium is dependent on several factors, including age, gender, occupation, hobbies, medical history, and where you live and travel to frequently.

Even though this explanation makes it seem simple, consumers often get confused with the sea of options that are presented once they begin shopping for life insurance. This discussion will focus on helping you address important questions which should be taken into consideration when deciding which life insurance policy is right for you and your family.   Read More

Private foundations have grown in popularity in recent years and go hand-in-hand with estate planning. For individuals who are charity driven, adding a private foundation to an estate plan can be a rewarding experience on several levels. Not only will creating a private foundation afford you the ability to give back and do honorable deeds but it can also reduce income tax liability and eliminate certain assets from your taxable estate. When integrated into your estate planning, starting a private foundation can offer you control of gifts or bequests to charities, giving you, the donor, more control over where how funds are distributed.
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Finding tax-free ways to save for college is a big deal for a large portion of the population, and for good reason. Obtaining a college education is one of the best ways for your dependents to secure a better job and a better life. However, despite different attempts to lower college tuition at both the state and Federal level, the cost of a college education continues to grow. US Student loan debt in America has reached nearly $1.5 trillion in 2018, equating to an overwhelming balance of more than $39,000 in debt per the average college graduate.
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If you’re slightly confused regarding how the Tax Cuts and Jobs Act affects your personal tax strategy, you’re not alone. One of the primary causes for confusion is the disconnect between lawmakers and the IRS. Even though the new law drastically changes tax law, it has left the IRS scrambling to confirm the rules within its own set of guidelines. This confusion has left tax planning professionals, CPAs, and everyday Americans awaiting IRS approval of numerous tax deductions. One recent example approved by the IRS gives homeowners the ability to write off the interest paid on home equity loans. But, the home equity tax loophole does have a few caveats.
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Business owners are now reviewing the repercussions of the Tax Cuts and Jobs Act of 2017 or are planning to do so soon. Learning about how these changes will affect your business is an important step to take now in strategic business and tax planning for the years to come. While the majority of the Act’s key criteria are beneficial to businesses, there are several changes that affect only certain types of businesses, and other changes that affect the overall method of accounting a business can use. Perhaps one of the most significant changes made in the new tax overhaul is that more businesses can utilize the cash method of accounting.

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The tax season is upon us once again, and with it comes the emergence of tax schemes both old and new. New tax scams in 2018 are as numerous and innovate as in previous years. Tax refund scams are so numerous, that the Internal Revenue Service issues an annual list of the twelve most prevalent tax scams in a list it calls the “dirty dozen”.  As in previous years, several of the same tax scams have returned, but with new twists to keep them one step ahead of both authorities and unsuspecting taxpayers.

Here’s a list of actual tax scams to be on the lookout for and how you can protect yourself against them.   Read More

With its effect being immediate and unanswered questions lingering, the Tax Cuts and Jobs Act largely eliminates the deduction for entertainment expenses, and businesses should incorporate this change without delay.

Under the prior law, taxpayers were able to deduct 50% of expenses incurred for entertainment, amusement, or recreation directly related to the active conduct of a taxpayer’s business or trade.  The new law, however, generally eliminates the deduction for expenses paid or incurred after December 31, 2017.  Although there are a few exceptions, entertainment expenses are non-deductible as of January 1, 2018.  It has been made clear that a deduction is not permitted for a client entertaining at sporting events, on the golf course, or any similar entertainment expense.  What is less clear, though, is how food and beverage expenses or meals are affected.  The Joint Committee on Taxation (JCT) stated “taxpayers may still generally deduct 50% of food and beverage expenses associated with operating a trade or business;” however, the JCT did not define what expenses are associated with “operating a trade or business” other than it would include meals provided to employees traveling for work.  It is still unclear whether food and beverage expenses incurred in connection with an entertainment event will remain 50% deductible.

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With the most extensive overhaul of the U.S. tax code in more than three decades having now been passed by both Houses of Congress, and officially signed by President Trump to enact it into law, tax reform is here.  These changes will require businesses and individuals to re-evaluate their long-term tax strategies starting in the 2018 tax year, but also means taking immediate year-end tax planning strategies for the final days of 2017 into consideration.

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All that we have done, are doing, or will do, is based upon 1 common element. PEOPLE!

Our business, your business, me, you, us, our team, all represent our “Internal people.”

WE ARE our Human Resources. We are HUMAN CAPITAL to one another.

Those we serve – our clients, networking partners, government agencies, our community – they represent our “external people”: Our market, our partners in service, our friends, our family. All of these are also our HUMAN CAPITAL. Of course, external people are also made up of competitors; some people who may challenge our existence, or wish to harm us. So, just as there is risk in monetary investing, there is risk in “raising and utilizing” our Human Capital.

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