Archive for October, 2016

Tuesday 10/25/2016

This Tax Planning Strategy Can Save You Tons When You Transfer Your Business

Successful business succession planning comes with lots of planning. Intentionally Defective Grantor Trusts, according to Tom Krause, CPA, can keep things simple and save you money.     There are a number of businesses that will be transferring ownership over the next ten years.  Why? Baby boomers. There is a large population of baby boomer […]

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Wednesday 10/19/2016

Have You Outgrown Your Retirement Vehicle?

Dennis Dlugosz, CPA shares his experience with retirement planning and offers sound advice:     Not long ago, I was like most Americans who start saving for retirement. My mindset was, “It is so far away- why worry now?” Now, working with businesses and individuals and witnessing my parents’ retirement, I can clearly see that […]

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Tuesday 10/11/2016

Are You a Contractor? ‘Percentage-of-Completion’ Should Ring a Bell.

Andy Pena takes a look at this method of recording long-term contracts:     In order to comply with generally accepted accounting principles (GAAP), your construction company’s financial statements are required to recognize revenue a certain way. GAAP requires revenue to be recorded in the period it is earned, regardless of when it is billed […]

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Wednesday 10/05/2016

Consider Choosing Your CPA to be Your Trust Advisor

According to Al Harsar, your CPA can help with much more than just your tax returns:     Many people trust their CPA to prepare their personal and business taxes and to consult with them on important financial decisions. This makes sense since their CPA understands not only their tax situation, but is usually privy […]

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