Tax Bite: Softening the Blow of Higher Taxes on Trust Income

This year, trusts are subject to the 39.6% ordinary-income rate and the 20% capital gains rate to the extent their taxable income exceeds $12,150. And the 3.8% net investment income tax applies to undistributed net investment income to the extent that a trust’s...

Innovate Your Business – Take Advantage of Transfer Pricing Rules

One of our newly established clients is a foreign owned subsidiary. It imports biochemicals manufactured by the Parent company.  Recently, the Parent invented a new product that has new technology and the Parent had high hopes of expanding its business into the U.S....

10 Keys to Financial Planning for Entrepreneurs

Often entrepreneurs are stumped with where to start with their finances.  Here are 10 keys to financial planning for entrepreneurs that are sure to make your next visit with your accountant much smoother. 1. Separate business and personal finances.  Obtain a separate...

Termination Checklist for Small Employers

Recently I was approached by one of our partners with a project that he needed done for a client of his.  The client, a small employer with fewer than 20 staff, needed to let go of one of their managers.  With no human resources staff, the client wanted to make sure...