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Estate planning Q&A: Sales to Intentionally Defective Grantor Trusts explained

Estate planning Q&A: Sales to Intentionally Defective Grantor Trusts explained

Reduce estate taxes? Consider a sale to an IDGT: Transfer wealth without using your estate tax exemption.
Data governance during migration sets companies up for long-term success

Data governance during migration sets companies up for long-term success

The benefits and phases of establishing data governance and quality in preparation for data modernization, finance transformation or artificial intelligence (AI) journeys.
The tax alpha advantage

The tax alpha advantage

As the importance of tax-efficient investing continues to grow, fund managers who can consistently generate tax alpha will be well-positioned to succeed in the competitive world of asset management.
California suspends NOLs and caps credit usage for three years

California suspends NOLs and caps credit usage for three years

California's FY25 budget includes billions from limiting net operating losses and tax credits, as well as the reversal of the Microsoft decision.
Maximizing Tax Savings: Is Separate Filing Right for Married Couples?

Maximizing Tax Savings: Is Separate Filing Right for Married Couples?

Most married couples file joint tax returns, but there are situations where filing separately might be beneficial. This article examines specific scenarios, such as significant medical expenses, qualified business income deductions, and student loan repayment plans, where separate filing can offer tax advantages. It also discusses the implications of liability and the loss of certain tax benefits. Before deciding, it's crucial to evaluate the overall impact on your tax liability. Learn more about when separate tax returns might be the right choice for married couples.
Understanding Penalty-Free IRA Withdrawals: Key Exceptions and Updates

Understanding Penalty-Free IRA Withdrawals: Key Exceptions and Updates

While early withdrawals from an IRA typically come with a 10% tax penalty, there are several exceptions that allow you to access your funds penalty-free. This article details the circumstances under which these exceptions apply, including disability, home purchases, and education expenses. Additionally, it discusses important updates from the SECURE 2.0 Act regarding required minimum distributions (RMDs). Ensure you are fully informed and consult with financial and tax professionals to make the most of your retirement savings. Learn more about penalty-free IRA withdrawals and how to optimize your financial strategy.
Ensuring Your Employees’ Retirement Financial Security

Ensuring Your Employees’ Retirement Financial Security

As retirement approaches, financial preparedness becomes crucial for employees. This article delves into the potential financial challenges and uncertainties that Baby Boomers and Generation Xers may face. It emphasizes the importance of catch-up contributions and the potential impact of Social Security shortfalls. Additionally, it provides actionable strategies for enhancing retirement savings and improving financial security. Learn how making additional contributions and planning to work a bit longer can significantly bolster retirement plans.
Catch-Up Contributions: A Strategic Move for Secure Retirement

Catch-Up Contributions: A Strategic Move for Secure Retirement

For those aged 50 and older, catch-up contributions offer a valuable opportunity to enhance retirement savings. This article explores how making additional contributions to IRAs and company plans can significantly bolster your financial future. With legislative changes on the horizon, understanding these contributions is more important than ever. Learn how you can maximize your retirement savings and ensure financial security in your golden years.
Calculation or Conclusion? Choosing the Right Business Valuation Method

Calculation or Conclusion? Choosing the Right Business Valuation Method

Deciding between a calculation of value and a conclusion of value is crucial for accurate business valuation. While conclusions of value offer comprehensive and reliable estimates through detailed analysis, calculations of value provide quicker, cost-effective solutions with limited scope. This article delves into the differences between these methods, helping you choose the right approach for your specific needs, whether for negotiations, tax planning, or litigation.
New DOL Rule Expands Overtime Pay to Millions

New DOL Rule Expands Overtime Pay to Millions

A new final rule from the U.S. Department of Labor (DOL) will expand the number of workers eligible for overtime pay under the Fair Labor Standards Act, effective July 1, 2024. This rule increases the salary threshold for exempt employees and is expected to impact millions. Employers should take steps to comply, including reassessing employee classifications and adjusting salary structures.
Bankruptcy Debt Limits Set to Drop: What Small Businesses Need to Know

Bankruptcy Debt Limits Set to Drop: What Small Businesses Need to Know

With market uncertainties and the expiration of temporary bankruptcy debt limit increases looming in June 2024, small businesses must act quickly. This article explains the differences between Subchapter V and Chapter 13 bankruptcies, the impact of recent legislation, and the potential extension of higher limits. Learn how these changes could affect your business and why consulting financial and legal advisors now is crucial.
Major Shift: FTC Prohibits Most Noncompete Clauses in Employment Contracts

Major Shift: FTC Prohibits Most Noncompete Clauses in Employment Contracts

The Federal Trade Commission has issued a groundbreaking final rule that bans most noncompete agreements, set to take effect in September 2024. This change aims to enhance competition, spur innovation, and provide more opportunities for American workers. While legal challenges from business groups are underway, the FTC believes the rule will lead to significant economic benefits, including job creation and increased worker earnings. Employers must explore alternative methods, such as trade secret laws and nondisclosure agreements, to protect their business interests. Learn more about the implications of this rule and how it might affect your business and career.
Vasquez + Company Featured Service Brochures

Vasquez + Company Featured Service Brochures

Explore Vasquez + Company LLP's comprehensive services brochures that include services tailored to address your specific needs.
Embezzlement Risks: What Every Business Needs to Know

Embezzlement Risks: What Every Business Needs to Know

Embezzlement is a common threat affecting companies of all sizes. This article explores the prevalence of embezzlement, common methods used by embezzlers, warning signs to watch for, and preventive measures businesses can take. Stay vigilant and implement strong internal controls to safeguard your assets and maintain financial integrity. Read the full article for detailed strategies.
IRS issues guidance to combat partnership basis-shifting transactions

IRS issues guidance to combat partnership basis-shifting transactions

The IRS has announced an effort to combat related party basis shifting transactions that lack economic substance.