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 business owners who will be upon retirement age and desiring to sell or transfer their ownership.
These business owners a Read More >>
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 starting early and knowing your options is the best advice to secure your future retirement.
We at Corrigan Krause work frequently with clo Read More >>
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 or when cash is received. The best way to comply with this revenue recognition under a fixed price construction contract Read More >>
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 to family dynamics gained from close, personal conversations over the years. They are often viewed as trustworthy and competent decision makers. Un Read More >>
