Blog
How the New Secure 2.0 Law May Affect Your Business
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years.
Business Owners Should Have a Buy-Sell Agreement
If you own an interest in a closely held business, a buy-sell agreement should be a critical component of your estate and succession plans. These agreements provide for the orderly disposition of each owner’s interest after a “triggering event,” such as death, disability, divorce or withdrawal from the business. This
Benefits of Outsourcing Your Accounting
CPA firms do more than audits and tax returns. They can also help you with everyday accounting-related tasks, such as bookkeeping, budgeting, payroll, sales tax filings, and outsourced controller and CFO services. Should your organization outsource its accounting needs? Here are five potential advantages to consider when evaluating this decision.
Tax Treatment of Intangible Assets
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create or enhance a separate, distinct intangible asset, Create or enhance a “future benefit”
FAQs About Required Minimum Distributions (RMDs)
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72. The rules for taking required minimum distributions (RMDs) are complicated, so here are some answers
Family Business’s Succession Plan Should Include Estate Planning Strategies
Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession. When a nonfamily business is sold to a third party, ownership and management succession typically happen simultaneously. However, in the context of a family business,
Where are you on your wealth building journey?
Christopher L. West, CPA, PFS I am an enthusiast for all things personal finance. Over my 30-year CPA career, I have been blessed to work side-by-side with many brilliant CPAs and advisors and nurtured close advisory relationships with numerous successful clients. My role with these clients has been
DWC Announces Employee Promotions
Dalby, Wendland & Co., P.C., (DWC) is pleased to announce the following promotions: Nathan A. Garcia, to Audit Senior Nathan started his career with DWC as an intern and became a full-time audit team member in June of 2021. He grew up in Grand Junction and obtained a bachelor's degree
SECURE 2.0 Law May Help With a More Secure Retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. SECURE 2.0 is meant
Letter of Instruction Complements a Will
A smart estate plan should leave no doubt as to your intentions. Writing a letter of instruction can go a long way toward clearly communicating all of your thoughts and wishes. Even though the letter, unlike a valid will, isn’t legally binding, it can be valuable to your surviving family