Beware the GST Tax When Transferring Assets to Grandchildren

As you plan your estate, don’t overlook the generation-skipping transfer (GST) tax. Despite a generous $5.49 million GST tax exemption, complexities surrounding its allocation can create several tax traps for the unwary. GST Basics The GST tax is a flat, 40% tax on transfers to “skip persons,” including grandchildren, other family members more than a generation […]Continue reading

What You Need to Know About the LaSalle Detention Facility and Pine Prairie Correctional Center

Immigrants who are detained by Immigrations and Customs Enforcement (ICE) officers and placed in removal proceedings in Louisiana will most likely be either be housed either at the LaSalle Detention Facility in Jena, Louisiana or the Pine Prairie Correctional Center in Pine Prairie, Louisiana. These facilities are run and operated by The Geo Group, Inc., […]Continue reading

Rev Up Retirement Offerings with an NQDC Plan

Many business owners and executives would like to save more money for retirement than they’re allowed to sock away in their 401(k) plan. For 2017, the annual elective deferral contribution limit for a 401(k) is just $18,000, or $24,000 if you’re 50 years of age or older. This represents a significantly lower percentage of the […]Continue reading

Use a Noncharitable Purpose Trust to Achieve a Variety of Goals

Generally, trusts must have one or more human beneficiaries, but there’s an exception for certain “purpose” trusts. One type of purpose trust that you may be familiar with is the charitable trust. But don’t overlook the noncharitable purpose (NCP) trust as a potential tool for achieving your estate planning goals. What is an NCP Trust? […]Continue reading

4 Tough Questions to Ask Before Expanding to a New Location

Is business going so well that you’re thinking about adding another location? If this is the case, congratulations! But before you start planning the ribbon-cutting ceremony, take a step back and ask yourself some tough questions about whether a new location will grow your company — or stretch it too thin. Here are four to […]Continue reading

Don’t Overlook Tax Apportionment When Planning Your Estate

If you expect your estate to have a significant estate tax liability at your death, be sure to include a well-thought-out tax apportionment clause in your will or revocable trust. An apportionment clause specifies how the estate tax burden will be allocated among your beneficiaries. Omission of this clause, or failure to word it carefully, […]Continue reading

Listening to Your Customers by Tracking Lost Sales

“Sorry, we don’t carry that item.” Or perhaps, “No, that’s not part of our service package.” How many times a year do your salespeople utter these words or ones like them? The specific number is critical because, if you don’t know it, you could be losing out on profit potential. Although you have to focus […]Continue reading

The Stretch IRA: A Simple Yet Powerful Estate Planning Tool

The IRA’s value as a retirement planning tool is well known: IRA assets compound on a tax-deferred (or, in the case of a Roth IRA, tax-free) basis, which can help build a more substantial nest egg. But if you don’t need an IRA to fund your retirement, you can use it as an estate planning […]Continue reading

Does Your Business Have too Much Cash?

From the time a business opens its doors, the owner is told “cash is king.” It may seem to follow that having a very large amount of cash could never be a bad thing. But, the truth is, a company that’s hoarding excessive cash may be doing itself more harm than good. Liquidity Overload What’s […]Continue reading

Make Sure Your Company is Prepared for Any Disaster

What could stop your company from operating for a day, a month or a year? A flood or fire? Perhaps a key supplier shuts down temporarily or permanently. Or maybe a hacker or technical problem crashes your website or you suddenly lose power. Whatever the potential cause might be, every business needs a disaster recovery […]Continue reading

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