When meeting a new Family Office client, it usually takes just a short conversation for us to understand one of the key items worrying them – their K-1 investments. A K-1 investment is the tax term we use to describe an investment in a partnership, informally known as...
Knowing these common legacy pitfalls can help your family avoid them. Family coach and author Roy Williams surveyed more than 3,000 families and found that over 90% of family wealth transfers fail by the end of the third generation. But, in this context,...
In its summary of the peer review program, the American Institute of Certified Public Accountants (AICPA) notes the following: The peer review helps to monitor a CPA firm’s accounting and auditing practice (practice monitoring). The goal of the practice monitoring,...
Improve your bottom line with these tax mitigation strategies. It’s almost time to close the books on another tax year, but it’s also time to be open to the many opportunities designed to alleviate your tax burden. Here are a few to get the ball rolling. While these...
Everyone, no matter their age, should have a will and other estate planning documents. In many situations, the plans are a complete surprise to the heirs and others entrusted with responsibilities. Here is what to advise named parties about before that tragic day....
In recent years, Business Process Outsourcing (BPO) has become an increasingly popular trend for small and mid-sized businesses. BPO essentially means outsourcing certain accounting and administrative tasks to an outside firm, enabling you to focus on what you do best...
