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For many years, family limited partnerships (FLPs) have been a popular estate planning tool, in part due to their tax benefits. Specifically, they can allow you to transfer assets to your children (and other family members) at discounted values for gift tax purposes. The gifts may even be tax-free if

Directors and officers (D&O) liability insurance enables board members to make decisions without fear that they’ll be personally responsible for any related litigation costs. Many not-for-profits fail to obtain this type of coverage because they don’t think they need it — yet hundreds are sued every year. If you don’t

Investing in commercial real estate is a significant financial undertaking. Maximizing after-tax cash flow from the real estate investment, especially in the early years of the investment, is typically a high priority.  Therefore, when investing in commercial real estate for your own occupancy or for rental to others, you should

On May 16, new guidance went into effect that allows companies to raise as much as $1 million a year through regulated online portals as long as the companies have submitted annual financial reports to the Securities and Exchange Commission (SEC). They don’t have to actually register with the SEC.

For years, life insurance has played a critical role in estate planning, providing a source of liquidity to pay estate taxes and other expenses. Today, estate taxes are no longer a concern for many families because the estate tax exemption amount stands at $5.45 million. But even for nontaxable estates,

Your not-for-profit’s accounting function affects everything you do. That’s why processes and procedures — and whether staff members adhere to them — should be reviewed regularly. In particular, ensure your organization isn’t making the following five common mistakes: Lacking formal, documented accounting processes. All aspects of managing your nonprofit’s money

An auditor does significant legwork before starting field work. During the audit planning phase, he or she reviews the preliminary financials and compares the current year’s results to last year and industry benchmarks. Here’s a closer look at what happens behind the scenes — and why you might want to

Special needs trusts (SNTs), also called “supplemental needs trusts,” benefit children or other family members with a disability that requires extended-term care or that prevents them from being able to support themselves. This trust type can provide peace of mind that your loved one’s quality of life will be enhanced

Many businesses use independent contractors to keep payroll taxes and fringe benefit costs down. But using outside workers may result in other problems. The IRS often questions businesses about whether workers should be classified as employees or independent contractors for federal employment tax purposes. If the IRS reclassifies a worker

Executives and other key employees are often compensated with more than just salary, fringe benefits and bonuses: They may also be awarded stock-based compensation, such as restricted stock or stock options. Another form that’s becoming more common is restricted stock units (RSUs). If RSUs are part of your compensation package,