Monthly Archives October 2016

Business Without Borders

There’s no doubt about it: Business has gone international. New electronic and logistical technologies have narrowed distance and time, and trade agreements have opened markets. And manufacturers are in a good position to venture into the business of exporting. Fluctuating currency-exchange rates and other challenges can make going global a challenge, but there are many benefits to consider, including: Boosting revenue. A larger market base and new demand from various niches can not only increase your sales, it can offer economies of scale, letting you get more from your resources. Expanding profits. Earnings can rise quickly if you are able
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Categories: Newsletter and Updates.

Spotlight on Gains from Qualified Small Business Stock

Whether you’re thinking about starting your own business or investing in a start-up, there’s an exciting tax break that could sweeten the deal: Gains from selling qualified small business stock (QSBS) that you acquire on or after September 28, 2010, are potentially eligible for a 0% federal income tax rate. Thanks to the Protecting Americans from Tax Hikes (PATH) Act of 2015, the 0% rate on QSBS gains is now permanent. But you must own the QSBS for over five years and not all shares will qualify for the 0% rate. Here are some key points to help determine whether
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Categories: Newsletter and Updates.

How to Set Up an IRS-Approved Family Loan

Today’s low-interest-rate environment makes it easy to loan money to family members on favorable terms with full IRS approval. Here’s a rundown of what the law covers and why now might be a good time to set up loans. Nothing in the tax law prevents you from making loans to family members (or unrelated people for that matter). However, unless you charge what the IRS considers an “adequate” interest rate, the so-called below-market loan rules come into play. For instance, let’s say you loan $50,000 interest-free to your daughter so she can buy her first home. Under the below-market loan
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Categories: Newsletter and Updates.

Avoiding Digital Disruption While Heading toward the Future

Digital disruption is described as the changes that occur when new technologies and businesses models have a negative effect on existing goods and services. Despite some activity, many companies are lagging when it comes to transforming to take on the challenge. Technologies Taking Hold A recent example of digital disruption is Uber, the smartphone ride-hailing app. If you’re not familiar with the service, you push an icon on your smartphone to order a driver, and the app tells you when a car has accepted the job, when it will arrive and about how much it’s going to cost (generally less
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Categories: Newsletter and Updates.

Did You Miss the 60-Day Deadline for Your IRA Rollover?

If you miss the deadline for rolling over an IRA distribution to another IRA or eligible retirement plan, you could be subject to taxes and penalties. If you have a valid excuse, you may be able to obtain a hardship waiver from the IRS, but applying is time-consuming and expensive. Fortunately, the IRS recently created a new self-certification procedure to make it easier to claim eligibility for a waiver. Here’s more information on who qualifies for the new procedure and how it works. New Self-Certification Procedure Taxpayers who miss the 60-day window for tax-free IRA rollovers can use the new
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Categories: Newsletter and Updates.

It’s Time to Review Your Financial Planning Options

Fall is a good time to pause and review your financial planning strategy. A lot can happen in a year. If your personal life, market conditions or tax laws have changed, you may need to revise your long-term financial plans. Here are some retirement and estate planning considerations that may be worthwhile. Roth IRAs Do you understand the key differences between traditional and Roth IRAs? Roth IRAs can be an effective retirement-saving tool for people who expect to be in a higher income tax bracket when they retire. Here’s how it typically works. You open up a Roth IRA and
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Categories: Newsletter and Updates.