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The JGS Advisor

Consider the tax consequences before making an employee a partner

In today’s competitive environment, offering employees an equity interest in your business can be a powerful tool for attracting, retaining and motivating quality talent. If your business is organized as a partnership, however, there are some tax traps you should   Read More

Posted in Blog, The JGS Advisor

Could stronger governance benefit your business?

Every company has at least one owner. And, in many cases, there exists leadership down through the organizational chart. But not every business has strong governance.

In a nutshell, governance is the set of rules, practices and processes by   Read More

Posted in Blog, The JGS Advisor

A family bank professionalizes intrafamily lending

If you’re interested in lending money to your children or other family members, consider establishing a “family bank.” These entities enhance the benefits of intrafamily loans, while minimizing unintended consequences.

Upsides and downsides of intrafamily lending

Lending can be an   Read More

Posted in Blog, The JGS Advisor

Business owners: When it comes to IRS audits, be prepared

If you recently filed your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business   Read More

Posted in Blog, The JGS Advisor

A “back door” Roth IRA can benefit higher-income taxpayers

A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand, allow tax-free distributions; the tradeoff is that contributions to these   Read More

Posted in Blog, The JGS Advisor

It’s a matter of principle — and trust — when using a principle trust

For many, an important estate planning goal is to encourage their children or other heirs to lead responsible, productive lives. One tool for achieving this goal is a principle trust.

By providing your trustee with guiding values and principles (rather   Read More

Posted in Blog, The JGS Advisor

It may be time for your company to create a strategic IT plan

Many companies take an ad hoc approach to technology. If you’re among them, it’s understandable; you probably had to automate some tasks before others, your tech needs have likely evolved over time, and technology itself is always changing.

Unfortunately, all   Read More

Posted in Blog, The JGS Advisor

Real estate investor vs. professional: Why it matters

Income and losses from investment real estate or rental property are passive by definition — unless you’re a real estate professional. Why does this matter? Passive income may be subject to the 3.8% net investment income tax (NIIT), and passive   Read More

Posted in Blog, The JGS Advisor

Hire your children to save taxes for your business and your family

It can be difficult in the current job market for students and recent graduates to find summer or full-time jobs. If you’re a business owner with children in this situation, you may be able to provide them with valuable experience   Read More

Posted in Blog, The JGS Advisor

Prepaid funeral plans may not provide peace of mind

The cost of a funeral has increased steadily during the past two decades. In fact, once all funeral-related costs are factored in, the typical traditional funeral service will cost an average family $8,000 to $10,000.

To relieve their families of   Read More

Posted in Blog, The JGS Advisor

Looking for concentration risks in your supply chain

Concentration risks are a threat to your supply chain. These occur when a company relies on a customer or supplier for 10% or more of its revenue or materials, or on several customers or suppliers located in the same geographic   Read More

Posted in Blog, The JGS Advisor

Operating across state lines presents tax risks — or possibly rewards

It’s a smaller business world after all. With the ease and popularity of e-commerce, as well as the incredible efficiency of many supply chains, companies of all sorts are finding it easier than ever to widen their markets. Doing so   Read More

Posted in Blog, The JGS Advisor

Worried about challenges to your estate plan? Make it no contest

Estate planning is all about protecting your family and ensuring that your wealth is distributed according to your wishes. So the idea that someone might challenge your estate plan can be disconcerting. One strategy for protecting your plan is to   Read More

Posted in Blog, The JGS Advisor

3 hot spots to look for your successor

Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made successor waiting in the wings at a moment’s   Read More

Posted in Blog, The JGS Advisor

Turning next year’s tax refund into cash in your pocket now

Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government   Read More

Posted in Blog, The JGS Advisor

Enhance benefits’ perceived value with strong communication

Providing a strong package of benefits is a competitive imperative in today’s business world. Like many employers, you’ve probably worked hard to put together a solid menu of offerings to your staff. Unfortunately, many employees don’t perceive the full value   Read More

Posted in Blog, The JGS Advisor