The executors are settling an estate — but the decedent owes money. What can the creditors take and what is reserved for the inheritors? There is no easy answer, and a variety of federal and state laws apply. To start with, retirement accounts that qualify under the Employee Retirement Income
The bond ladder concept can be simple at the outset: You just need some basic arithmetic to divide up your fixed income allocation into a staggered schedule designed to mature at predictable intervals. Dependable cash flow can provide peace of mind, and spreading maturities can spare you from making big
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. They may also incur expenses
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you’ll incur a
In certain circumstances, businesses may need to hire CPAs to perform agreed-upon procedures (AUPs) instead of (or in addition to) a review or an audit. AUPs are a type of attestation engagement “in which a practitioner performs specific procedures on subject matter and reports the findings without providing an opinion
Christopher L. West, CPA, PFS DWC CPAs and Advisors is honored to be recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm in the nation. IPA ranks public accounting firms nationally by U.S. net revenues, and they are compiled by analyzing over 625 responses for IPA’s
Risk can be defined as the potential for market losses or, on a more relative basis, for not keeping up with the Joneses. During a roaring bull period, when indexes and average investments are soaring, falling far behind the Joneses exemplifies another kind of risk. Risk-Return Ratio How many units
DWC CPAs and Advisors is pleased to announce the following promotions. We congratulate these exemplary professionals as they represent our core values of integrity, quality, and community investment and core purpose to help our clients, people, and communities to be better. Mark W. Plantz, CPA, to Principal Mark holds an
Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. 1. Commingled Bank Accounts It’s important to maintain a separate dedicated
DWC CPAs and Advisors is pleased to announce Senior Bookkeeper Darby Russell, ACMA, CGMA, has attained the Associated Charter Management Accountant (ACMA) and Chartered Global Management Accountant (CGMA) designations, awarded by the American Institute of Certified Public Accountants in association with the Chartered Institute of Management Accountants. Professionals with CGMA
