You’ve probably seen it in the movies or on TV: A close-knit family gathers to find out what’s contained in the will of a wealthy patriarch or matriarch. When the terms are revealed, a niece, for example, benefits at the expense of her uncle, causing a ruckus. This “bad blood”
There’s a bright side to today’s unprecedented market conditions: Agile people may discover opportunities to start new business ventures. Start-ups need a comprehensive business plan, including detailed financial forecasts, to drum up capital from investors and lenders. Entrepreneurs may also use forecasts as yardsticks for evaluating and improving performance over
Employment laws and compliance have become more confusing and difficult during the pandemic, leaving some with more questions. Here are some common Q&A’s. Q&A: What Happens If An Employee Doesn't Return to Work Everyone has to play this one carefully, thanks to guidance from the SBA. An employer may want
Nearly everyone owns at least some digital assets, such as online bank and brokerage accounts, bill-paying services, cloud-based document storage, digital music collections, social media accounts, and domain names. But what happens to these assets when you die or if you become incapacitated? The answer depends on several factors, including
Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit may create undesirable income tax consequences for you. “Phantom Income” The first $50,000 of group term life insurance coverage that your employer provides is excluded from taxable
It’s August, and that means it’s time to get ready to go back to school for many students. If your child recently graduated from high school and is heading to college in the next few weeks, besides assembling the essentials — such as clothing, toiletries, bedding and a laptop —
You may think of trusts as estate planning tools — vehicles for reducing taxes after your death. While trusts can certainly fill that role, they’re also useful for protecting assets, both now and later. After all, the better protected your assets are, the more you’ll have to pass on to
Timely, relevant financial data is critical to managing a business in today’s unprecedented conditions. Similar to the control panel in a vehicle or machine, dashboard reports provide a real-time snapshot of how your business is performing. Why You Need a Dashboard Report Everything in a dashboard report can typically be
If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for tax purposes. The Rules of Fair Market Value Under the fair market value basis rules (also known as the “step-up and step-down” rules), an heir receives a basis in inherited
Dalby, Wendland & Co., P.C., is honored to be recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm. IPA ranks firms nationally by U.S. net revenues and they are compiled by analyzing the more than 540 responses received this year for IPA’s Survey and Analysis of Firms. This
