Disputes in either business or amongst family members have one common aspect: money. Who has it, who had it, where did it go and how do I get more of it. Inevitably the first set of documents requested in any dispute is the previous five years of filed tax returns. The review of tax returns…
A cash balance plan is a defined benefit pension plan that has some characteristics of a defined contribution pension plan. Defined benefit pension plans provide participants with the specified benefit amount at retirement, while defined contribution plans provide for a specified amount to be contributed into the plan with no specified amount to be received…
Are You a Multistate Corporation? Master How to Source Your Sales of Intangibles and Services! When preparing 2014 corporate state returns and 2015 extensions for your multistate corporation, you must properly source receipts related to the sale of “other than tangible personal property” (i.e., services, intangible property, rents, royalties, interest and dividend income) among the…
Senator Wyden Puts Hedge Fund Reinsurance In The Crosshairs After months of back and forth between Senator Ron Wyden (D-Ore.) and John Koskinen, the Commissioner of the IRS, regarding hedge fund reinsurance, the Commissioner has vowed to produce further IRS guidance. On February 3, 2015, the Commissioner told Senator Wyden that he would produce guidance…
Some business tools are so ubiquitous and intuitive that employees will jump right in with little resistance or hesitancy. For example, nearly everyone knows how to use email, given its prevalence within our personal lives. However, tools that aim to address collaboration and enterprise knowledge management typically require more curated training and guidance for employees….
Business Owners Separation – One Solution “They say that breaking up is hard to do Now, I know, I know that it’s true Don’t say that this is the end Instead of breaking up I wish that we were making up again” Lyrics from the 1975 hit Breakin’ Up Is Hard to Do by Neil…
Although it’s rare to have too few enterprise collaboration tools, having too many is a common problem. Before you decide to add a new enterprise collaboration tool to your portfolio of enterprise applications, it’s important to establish a clear business objective that will be accomplished by the potential tool. Think about the end in mind…
Financial Advisor Fees: How Do They Compare? Long-term investing is important for just about everyone, and it can become a complicated process for most people who are looking for the best way to structure their retirement and supplemental income. There are many different ways to invest, and many different fees associated with those investments. Each…
Walsh, Jastrem & Browne, LLP merges with WithumSmith+Brown Effective March 15, 2015, Walsh, Jastrem & Browne LLP (WJB), has combined its practice with WithumSmith+Brown. Joining the Withum roster are partners Tom Walsh, CPA, CGMA, who has served as WJB’s managing partner since 2000, Jim Browne, CPA, CGMA and Steve Yardumian, CPA, CGMA, along with the…
There is little debate in the valuation profession that interests in closely held businesses are less marketable than shares in publicly traded companies or that minority interests are worth less than controlling interests. Despite these facts, discounts for lack of control and lack of marketability are one of the most contested aspects of any business…