An auditor does significant legwork before starting field work. During the audit planning phase, he or she reviews the preliminary financials and compares the current year’s results to last year and industry benchmarks. Here’s a closer look at what happens behind the scenes — and why you might want to
Special needs trusts (SNTs), also called “supplemental needs trusts,” benefit children or other family members with a disability that requires extended-term care or that prevents them from being able to support themselves. This trust type can provide peace of mind that your loved one’s quality of life will be enhanced
Many businesses use independent contractors to keep payroll taxes and fringe benefit costs down. But using outside workers may result in other problems. The IRS often questions businesses about whether workers should be classified as employees or independent contractors for federal employment tax purposes. If the IRS reclassifies a worker
Executives and other key employees are often compensated with more than just salary, fringe benefits and bonuses: They may also be awarded stock-based compensation, such as restricted stock or stock options. Another form that’s becoming more common is restricted stock units (RSUs). If RSUs are part of your compensation package,
DWC in Grand Junction sponsored two volleyball teams for the Spike a Wish tournament to benefit Grant a Wish program. The teams had a great time playing in the sand at Volleys and raising money to support local children. We appreciate and thank all sponsors, organizers, players, and program supporters!
If a substantial portion of your wealth is tied up in a family or closely held business, you may be concerned that your estate will lack sufficient liquid assets to pay estate taxes. In such cases, heirs may be forced to borrow funds or, in a worst-case scenario, sell the
Dalby, Wendland & Co., P.C., is honored to be recognized by INSIDE Public Accounting (IPA) as a Top 300 Firm. IPA 300 firms are ranked by U.S. net revenues and are compiled by analyzing more than 540 responses to IPA’s Survey and Analysis of Firms. Firm President Greg Keller said,
Health Savings Accounts (HSAs) were created as a tax-favored framework to provide health care benefits mainly for small to midsize businesses and the self-employed. So, assuming your company falls into one of these categories, have you considered the strategy of using these accounts with a high-deductible health plan (HDHP)? Tax
Business owners may be able to see substantial tax savings faster by conducting cost segregation studies. These studies identify property components and their costs, allowing you to maximize current depreciation deductions by using shorter lives and speeding up depreciation rates available for the qualifying parts of the property. Depreciation rules
Crowdfunding can be an effective method to raise money for business or personal ventures, projects, or other needs such as fundraising and charitable causes. The premise of crowdfunding is to raise cash from a large number of people (friends, family, coworkers, or other investors/backers), allowing more flexibility of contributors, greater
