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The JGS Advisor

Labor Department Proposes Auto-Transfer Plan for Small 401(k) Accounts

Each year, nearly 15 million American workers change jobs, with many leaving their 401(k) accounts behind. The Department of Labor (DOL) is trying to relieve this headache for plan sponsors and keep employee accounts more complete by proposing a rule   Read More

Posted in Blog, The JGS Advisor

Coming into Compliance with State Taxes in the Wake of Wayfair

On June 21, 2018, the U.S. Supreme Court issued its widely anticipated decision in Wayfair. The Court held that states may require businesses to collect and remit sales and use taxes even if the business has no in-state physical presence.  Read More

Posted in Blog, The JGS Advisor

Top 10 Property Tax Myths

Are you missing an opportunity to reduce your property tax liability?
Nearly all local taxing jurisdictions, including municipalities, counties, and boards of education, generate tax revenue through the imposition of property tax, which is one of the most substantial sources   Read More

Posted in Blog, The JGS Advisor

5 Business Productivity Killers—and How to Slay Them

Productivity Killers

If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive   Read More

Posted in Blog, The JGS Advisor

Eight Key Tax Planning Opportunities for 2019

More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still wrapping their arms around the changes. Additional guidance and regulations have been issued nearly every month—indeed, change is the new normal.   Read More

Posted in Blog, The JGS Advisor

6 Ways Industry 4.0 is Disrupting the Supply Chain

The arrival of Industry 4.0 is heralding the next era in supply chain management, in which suppliers and customers come together in entirely new ways, blurring the lines between the digital and physical worlds and erasing traditional organizational boundaries.

Industry   Read More

Posted in Blog, The JGS Advisor

Seize the opportunity (zone), but keep your head on straight

BDO’s Stuart Eisenberg and Marla Miller demystify the new vehicle and recommend ways in which REITs can take advantage of their scale when investing in qualified properties.

The IRS defines an opportunity zone as an “economically distressed community where new   Read More

Posted in Blog, The JGS Advisor

SEC Examination Priorities for 2019

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) recently announced its 2019 Examination Priorities. These priorities reflect OCIE’s assessment of certain risks, issues, and policy matters arising from market and regulatory developments,   Read More

Posted in Blog, The JGS Advisor

What to Expect from the IRS as the Government Shutdown Continues

Summary

Due to the lapse in appropriations that began midnight December 22, 2018, the federal government is in its third week of a partial shutdown, which includes much of the Internal Revenue Service (IRS).  Indeed, although the IRS is working   Read More

Posted in Blog, The JGS Advisor

Family businesses need succession plans, too

Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company going and no one will stand   Read More

Posted in Blog, The JGS Advisor

Laying the groundwork for your 2018 tax return

The Tax Cuts and Jobs Act (TCJA) made many changes to tax breaks for individuals. Let’s look at some specific areas to review as you lay the groundwork for filing your 2018 return.

Personal exemptions

For 2018 through 2025, the   Read More

Posted in Blog, The JGS Advisor

Tax calendar

This calendar notes important tax deadlines for the first quarter of 2019.

January 15 — Individual taxpayers’ final 2018 estimated tax payment is due.

January 31 — File 2018 Forms W-2 (“Wage and Tax Statement”) with the Social Security Administration   Read More

Posted in Blog, The JGS Advisor

Can a PTO contribution arrangement help your employees and your business?

As the year winds to a close, most businesses see employees taking a lot of vacation time. After all, it’s the holiday season, and workers want to enjoy it. Some businesses, however, find themselves particularly short-staffed in December because they   Read More

Posted in Blog, The JGS Advisor

Year-end tax and financial to-do list for individuals

With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends:

Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses,   Read More

Posted in Blog, The JGS Advisor

Getting ahead of the curve on emerging technologies

Turn on your computer or mobile device, scroll through Facebook or Twitter, or skim a business-oriented website, and you’ll likely come across the term “emerging technologies.” It has become so ubiquitous that you might be tempted to ignore it and   Read More

Posted in Blog, The JGS Advisor

Use capital losses to offset capital gains

When is a loss actually a gain? When that loss becomes an opportunity to lower tax liability, of course. Now’s a good time to begin your year-end tax planning and attempt to neutralize gains and losses by year end. To   Read More

Posted in Blog, The JGS Advisor

Buy business assets before year end to reduce your 2018 tax liability

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end   Read More

Posted in Blog, The JGS Advisor

It’s not too late: You can still set up a retirement plan for 2018

If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to set one up and   Read More

Posted in Blog, The JGS Advisor

Does prepaying property taxes make sense anymore?

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?

The answer, for some people, is   Read More

Posted in Blog, The JGS Advisor

Unleash the power of a nonspringing power of attorney

Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. A   Read More

Posted in Blog, The JGS Advisor

Mutual funds: Handle with care at year end

As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips.

Avoid surprise capital gains

Unlike with stocks,   Read More

Posted in Blog, The JGS Advisor

Tax reform expands availability of cash accounting

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly   Read More

Posted in Blog, The JGS Advisor

Time for NQDC plan deferral elections

If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. As the name suggests, NQDC plans pay employees in the future for services currently performed. The plans allow deferral of the   Read More

Posted in Blog, The JGS Advisor

Buy business assets before year end to reduce your 2018 tax liability

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end   Read More

Posted in Blog, The JGS Advisor

Review and revise your estate plan to reflect life changes during the past year

Your estate plan shouldn’t be a static document. It needs to change as your life changes. Year end is the perfect time to check whether any life events have taken place in the past 12 months or so that affect   Read More

Posted in Blog, The JGS Advisor

A strong BYOD policy combines convenience with security

It’s easy to understand why more and more businesses are taking a “bring your own device” (BYOD) approach to the smartphones, tablets and laptops many employees rely on to do their jobs. BYOD can boost employee efficiency and satisfaction, often   Read More

Posted in Blog, The JGS Advisor

How to reduce the tax risk of using independent contractors

Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and   Read More

Posted in Blog, The JGS Advisor

Intellectual property requires careful estate planning

If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your estate plan. Although these intangible assets can have great value, in many ways they’re treated differently   Read More

Posted in Blog, The JGS Advisor

Consider all the tax consequences before making gifts to loved ones

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime   Read More

Posted in Blog, The JGS Advisor

Donate appreciated stock for twice the tax benefits

A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you   Read More

Posted in Blog, The JGS Advisor

Reduce insurance costs by encouraging employee wellness

Protecting your company through the purchase of various forms of insurance is a risk-management necessity. But just because you must buy coverage doesn’t mean you can’t manage the cost of doing so.

Obviously, the safer your workplace, the less likely   Read More

Posted in Blog, The JGS Advisor

Take caution when including employees in your estate plan

If you’re the owner of a small business, you may think of your tight-knit group of employees as a family. If you wish to include them as beneficiaries in your estate plan, it’s critical to be aware of possible unintended   Read More

Posted in Blog, The JGS Advisor

Could “bunching” medical expenses into 2018 save you tax?

Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your   Read More

Posted in Blog, The JGS Advisor

Educate your children on wealth management

If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your   Read More

Posted in Blog, The JGS Advisor

4 pillars of a solid sales process

Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest and dips in demand may cause slowdowns that are beyond your control. But if the numbers keep dropping and   Read More

Posted in Blog, The JGS Advisor

Turn down an inheritance using a qualified disclaimer

If you are about to receive an inheritance from a family member, you can use a qualified disclaimer to refuse the bequest. The assets will then bypass your estate and go directly to the next beneficiary in line. It’s as   Read More

Posted in Blog, The JGS Advisor

529 plans offer two tax-advantaged education funding options

Section 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans got even better under the Tax Cuts and Jobs   Read More

Posted in Blog, The JGS Advisor

Retiring abroad? Review your estate plan before making the move

If you dream of spending your golden years in a tropical paradise, a culture-rich European city or another foreign locale, it’s important to understand the potential tax and estate planning implications. If you don’t, you could be hit with some   Read More

Posted in Blog, The JGS Advisor

Keeping a king in the castle with a well-maintained cash reserve

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own   Read More

Posted in Blog, The JGS Advisor

Tax planning for investments gets more complicated

For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to   Read More

Posted in Blog, The JGS Advisor

Businesses aren’t immune to tax identity theft

Tax identity theft may seem like a problem only for individual taxpayers. But, according to the IRS, increasingly businesses are also becoming victims. And identity thieves have become more sophisticated, knowing filing practices, the tax code and the best ways   Read More

Posted in Blog, The JGS Advisor

Prepare for valuation issues in your buy-sell agreement

Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play.

Issues, what issues?   Read More

Posted in Blog, The JGS Advisor

You might save tax if your vacation home qualifies as a rental property

Do you own a vacation home? If you both rent it out and use it personally, you might save tax by taking steps to ensure it qualifies as a rental property this year. Vacation home expenses that qualify as rental   Read More

Posted in Blog, The JGS Advisor

Are you ready to expand to a second location?

Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location.

If your business has reached this point, or is nearing it, both   Read More

Posted in Blog, The JGS Advisor

2018 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to   Read More

Posted in Blog, The JGS Advisor

Assessing the S corp

The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible • and, with the new 21% flat income tax rate that   Read More

Posted in Blog, The JGS Advisor

Business tips for back-to-school time

Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business development efforts, whether it’s launching new marketing   Read More

Posted in Blog, The JGS Advisor

Back-to-school time means a tax break for teachers

When teachers are setting up their classrooms for the new school year, it’s common for them to pay for a portion of their classroom supplies out of pocket. A special tax break allows these educators to deduct some of their   Read More

Posted in Blog, The JGS Advisor

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For a   Read More

Posted in Blog, The JGS Advisor

At your own risk: The pitfalls of DIY estate planning

There’s no law that says you can’t prepare your own estate plan. And with an abundance of online services that automate the creation of wills and other documents, it’s easy to do. But unless your estate is small and your   Read More

Posted in Blog, The JGS Advisor

Play your tax cards right with gambling wins and losses

If you gamble, be sure you understand the tax consequences. Both wins and losses can affect your income tax bill. And changes under the Tax Cuts and Jobs Act (TCJA) could also have an impact.

Wins and taxable income

You   Read More

Posted in Blog, The JGS Advisor

Contemplating compensation increases and pay for performance

As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise cash   Read More

Posted in Blog, The JGS Advisor

6 ways to get more value from an IT consultant

IT consultants are many things — experts in their field, champions of the workaround and, generally, the “people persons” of the tech field. But they’re not magicians who, with the wave of a smartphone, can solve any dilemma you throw   Read More

Posted in Blog, The JGS Advisor

Choosing the right accounting method for tax purposes

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual method — available to more businesses. Now the IRS has provided procedures   Read More

Posted in Blog, The JGS Advisor

An FLP can save tax in a family business succession

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready   Read More

Posted in Blog, The JGS Advisor

What you can deduct when volunteering

Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately, that’s not   Read More

Posted in Blog, The JGS Advisor

Is there a weak link in your supply chain?

In an increasingly global economy, keeping a close eye on your supply chain is imperative. Even if your company operates only locally or nationally, your suppliers could be affected by wider economic conditions and developments. So, make sure you’re regularly   Read More

Posted in Blog, The JGS Advisor

Provide for family members with special needs using an SNT

If you have a child or other family member with a disabling condition that requires long-term care or prevents (or will prevent) him or her from being able to support him- or herself, consider establishing a special needs trust (SNT).   Read More

Posted in Blog, The JGS Advisor

Business deductions for meal, vehicle and travel expenses: Document, document, document

Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS.

A critical requirement

Subject to various rules and limits, business meal (generally 50%),   Read More

Posted in Blog, The JGS Advisor

Get SMART when it comes to setting strategic goals

Strategic planning is key to ensuring every company’s long-term viability, and goal setting is an indispensable step toward fulfilling those plans. Unfortunately, businesses often don’t accomplish their overall strategic plans because they’re unable to fully reach the various goals necessary   Read More

Posted in Blog, The JGS Advisor

5 estate planning tips for the sandwich generation

The “sandwich generation” accounts for a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. In some cases, this includes providing parents with financial support. As   Read More

Posted in Blog, The JGS Advisor

Trust is an essential building block of today’s websites

When business use of websites began, getting noticed was the name of the game. Remember pop-up ads? Text scrolling up the screen? How about those mesmerizing rotating banners? Yes, there were — and remain — a variety of comical and   Read More

Posted in Blog, The JGS Advisor

21st century estate planning accounts for digital assets

Even though you can’t physically touch digital assets, they’re just as important to include in your estate plan as your material assets. Digital assets may include online bank and brokerage accounts, digital photo galleries, and even email and social media   Read More

Posted in Blog, The JGS Advisor

Making the right choice about your office space

For many companies, there comes a time when owners must decide whether to renew a lease, move on to a different one or buy new (or pre-existing) space. In some cases, it’s a relatively easy decision. Maybe you’re happy where   Read More

Posted in Blog, The JGS Advisor

Is your inventory getting the better of you?

On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big — despite   Read More

Posted in Blog, The JGS Advisor

Home green home: Save tax by saving energy

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in addition to your energy bill, all while helping the environment, too. The catch is that, to reap all three   Read More

Posted in Blog, The JGS Advisor

Finding a 401(k) that’s right for your business

By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out   Read More

Posted in Blog, The JGS Advisor

Run the numbers before you extend customer credit

Funny thing about customers: They can keep you in business — but they can also put you out of it. The latter circumstance often arises when a company overly relies on a few customers that abuse their credit to the   Read More

Posted in Blog, The JGS Advisor

Fortify your estate plan against undue influence claims

Of course, you expect the declarations in your will to be carried out, as required by law. Usually, that’s exactly what happens with wills. However, it’s possible your will could be contested and your true intentions defeated if someone is   Read More

Posted in Blog, The JGS Advisor

Bookings vs. shippings: A sales flash report primer

Do bad sales months often take you by surprise? If so, don’t forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week.

One specific way to use them is   Read More

Posted in Blog, The JGS Advisor

A midyear review should go beyond financials

Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned.  Read More

Posted in Blog, The JGS Advisor

Naming a minor as beneficiary of a life insurance policy or retirement plan can lead to unintended outcomes

A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. While making your young child the beneficiary of such assets may seem like an excellent   Read More

Posted in Blog, The JGS Advisor

What businesses need to know about the tax treatment of bitcoin and other virtual currencies

Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency.

While most smaller businesses aren’t yet accepting bitcoin or   Read More

Posted in Blog, The JGS Advisor

Putting your child on your business’s payroll for the summer may make more tax sense than ever

If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring your child may make more sense than ever   Read More

Posted in Blog, The JGS Advisor

Use the proper tools to fix a broken trust

An irrevocable trust has long been a key component of many estate plans. But what if it no longer serves your purposes? Is it too late to change it? Depending on applicable state law, you may have options to fix   Read More

Posted in Blog, The JGS Advisor

Blockchain may soon drive business worldwide

“Blockchain” may sound like something that goes on a vehicle’s tires in icy weather or that perhaps is part of that vehicle’s engine. Indeed it is a type of technology that may help drive business worldwide at some point soon   Read More

Posted in Blog, The JGS Advisor

Can you deduct business travel when it’s combined with a vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread   Read More

Posted in Blog, The JGS Advisor

Your original will: Does your family know where to locate it?

In a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it comes to your last will and testament, only an original, signed document will do.

A photocopy isn’t good enough

Many   Read More

Posted in Blog, The JGS Advisor

Do you need to adjust your withholding?

If you received a large refund after filing your 2017 income tax return, you’re probably enjoying the influx of cash. But a large refund isn’t all positive. It also means you were essentially giving the government an interest-free loan.

That’s   Read More

Posted in Blog, The JGS Advisor

Tax record retention guidelines for individuals

What 2017 tax records can you toss once you’ve filed your 2017 return? The answer is simple: none. You need to hold on to all of your 2017 tax records for now. But it’s the perfect time to go through   Read More

Posted in Blog, The JGS Advisor

IRS Audit Techniques Guides provide clues to what may come up if your business is audited

IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and fringe   Read More

Posted in Blog, The JGS Advisor

Provide for your spouse, then your kids, with a QTIP trust

If you want to preserve as much wealth as possible for your children, but you leave property to your spouse outright, there’s no guarantee your objective will be met. This may be a concern if your spouse has poor money   Read More

Posted in Blog, The JGS Advisor

A review of significant TCJA provisions affecting small businesses

Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA) that may significantly   Read More

Posted in Blog, The JGS Advisor

Properly planning for incapacity requires specific estate planning strategies

Most estate plans focus on what happens after you die. But without arrangements for what will happen in the event you become mentally incapacitated, your plan is incomplete. If an accident, illness or other circumstances render you unable to make   Read More

Posted in Blog, The JGS Advisor

Individual tax calendar: Important deadlines for the remainder of 2018

While April 15 (April 17 this year) is the main tax deadline on most individual taxpayers’ minds, there are others through the rest of the year that you also need to be aware of. To help you make sure you   Read More

Posted in Blog, The JGS Advisor

Haven’t filed your 2017 income tax return yet? Beware of these pitfalls

The federal income tax filing deadline is slightly later than usual this year — April 17 — but it’s now nearly upon us. So, if you haven’t filed your individual return yet, you may be thinking about an extension. Or   Read More

Posted in Blog, The JGS Advisor

A net operating loss on your 2017 tax return isn’t all bad news

When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware —   Read More

Posted in Blog, The JGS Advisor

Should you file Form SS-8 to ask the IRS to determine a worker’s status?

Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations.

To find   Read More

Posted in Blog, The JGS Advisor

You still have time to make 2017 IRA contributions

Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible contributions will lower your 2017 tax bill, but even nondeductible   Read More

Posted in Blog, The JGS Advisor

Could your next business loan get “ratio’d”?

We live and work in an era of big data. Banks are active participants, keeping a keen eye on metrics that help them accurately estimate risk of default.

As you look for a loan, try to find out how each   Read More

Posted in Blog, The JGS Advisor

Apply for a waiver if you’ve missed the 60-day IRA rollover deadline

IRAs and employer-sponsored plans such as 401(k)s are powerful retirement savings tools, but they also provide valuable estate planning benefits. If you hold a traditional IRA for life, for example, your children or other heirs can stretch out distributions over   Read More

Posted in Blog, The JGS Advisor

2018 Q2 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to   Read More

Posted in Blog, The JGS Advisor

Home vs. away: The company retreat conundrum

When a business decides to hold a retreat for its employees, the first question to be answered usually isn’t “What’s our agenda?” or “Whom should we invite as a guest speaker?” Rather, the first item on the table is, “Where   Read More

Posted in Blog, The JGS Advisor

Don’t overlook securities laws when planning your estate

For a variety of estate planning and asset management purposes, many affluent families hold their assets in trusts, family investment vehicles or charitable foundations. If assets held in this manner include interests in hedge funds, private equity funds or other   Read More

Posted in Blog, The JGS Advisor

Casualty losses can provide a 2017 deduction, but rules tighten for 2018

If you suffered damage to your home or personal property last year, you may be able to deduct these “casualty” losses on your 2017 federal income tax return. For 2018 through 2025, however, the Tax Cuts and Jobs Act suspends   Read More

Posted in Blog, The JGS Advisor

Power of attorney abuse: What you can do about it

A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable estate planning tool. The main disadvantage is that it’s susceptible to abuse by scam artists,   Read More

Posted in Blog, The JGS Advisor

Make sure repairs to tangible property were actually repairs before you deduct the cost

Repairs to tangible property, such as buildings, machinery, equipment or vehicles, can provide businesses a valuable current tax deduction — as long as the so-called repairs weren’t actually “improvements.” The costs of incidental repairs and maintenance can be immediately expensed   Read More

Posted in Blog, The JGS Advisor

Don’t forget: 2017 tax filing deadline for pass-through entities is March 15

When it comes to income tax returns, April 15 (actually April 17 this year, because of a weekend and a Washington, D.C., holiday) isn’t the only deadline taxpayers need to think about. The federal income tax filing deadline for calendar-year   Read More

Posted in Blog, The JGS Advisor

7 ways to prepare your business for sale

For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on. There are many variations in between, of course,   Read More

Posted in Blog, The JGS Advisor

Size of charitable deductions depends on many factors

Whether you’re claiming charitable deductions on your 2017 return or planning your donations for 2018, be sure you know how much you’re allowed to deduct. Your deduction depends on more than just the actual amount you donate.

Type of gift  Read More

Posted in Blog, The JGS Advisor