Category: News

  • Have you and your spouse coordinated your estate plans?

    When it comes to estate planning, married couples often assume that simply naming each other in their wills or designating each other as beneficiaries is sufficient. However, unintended consequences can result if you and your spouse fail to properly coordinate your estate plans. Examples include conflicting provisions, unexpected tax consequences or assets passing in ways…

  • After a person dies, his or her debts live on

    One question the family of a deceased person often asks is: What happens to debt after a person dies? It’s important to realize that a person’s debt doesn’t simply vanish after his or her death. An estate’s executor or beneficiaries generally aren’t personally liable for any debt. The estate itself is liable for the deceased’s…

  • How your business can sharpen its marketing strategy

    Creating a marketing strategy for any company isn’t a “one and done” activity. As you’ve no doubt experienced, the approach you use to connect with your audience needs to adapt to factors such as the economy, marketplace changes, and customer and prospect preferences. Let’s take a step back and review some of the big-picture tasks…

  • Closing time: Mastering your monthly close with QuickBooks

    The month-end close is a pain point for many small to midsize businesses. While internal accounting teams often aim to wrap up the close within three days, a recent survey found that half the respondents actually take six days or longer to close the books. What can your organization do to help streamline this process?…

  • Digital assets and taxes: What you need to know

    Crypto is on the IRS’s radar! If you bought, sold, mined, staked or were paid in digital assets like Bitcoin, Ethereum or NFTs, you must report it on your tax return. Near the top of your federal tax return, there’s a question asking if you received or disposed of any digital assets during the year.…

  • IRS clarifies theft and fraud loss deductions

    The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. But a recent “advice memo” (CCA 202511015) from the IRS’s Office of Chief Counsel suggests more victims of fraudulent scams may be able to claim a theft loss deduction than previously understood. Casualty loss deduction…

  • Have you made arrangements for your pets in your estate plan?

    For many people, pets are more than just animals — they’re cherished members of the family. Yet, when it comes to estate planning, their future care can be overlooked. Including your pets in your estate plan ensures they’ll continue to receive love and care if something happens to you. Unless you arrange for their care…

  • Family business focus: Addressing estate and succession planning

    The future often weighs heavier on the shoulders of family business owners. Their companies aren’t just “going concerns” with operating assets, human resources and financial statements. The business usually holds a strong sentimental value and represents years of hard work involving many family members. If this is the case for your company, an important issue…

  • M&A accounting: Identifying the acquirer in business combinations involving VIEs

    On May 12, 2025, the Financial Accounting Standards Board (FASB) finalized new guidance that clarifies how to identify the acquirer in mergers and acquisitions (M&As) involving variable interest entities (VIEs). The updated guidance brings much-needed consistency and comparability to complex deals where equity interests are exchanged. Why the update matters Determining the “accounting acquirer” is more…

  • The advantages of a living trust for your estate plan

    If you own substantial assets, you may want to consider setting up a living trust to bypass the probate process. Probate is a court-supervised procedure that ensures a deceased individual’s assets are distributed appropriately. However, it often involves complex legal steps, additional costs and public disclosure of your financial matters. A living trust can help…