Sudden Death & Family Business Exits
We recently wrapped up the Fourth Annual San Antonio Exit Planning Summit with our Exit Planning Exchange (XPX) San Antonio colleagues. A common theme was a sobering but vitally important one for all business owners: How sudden illness or death can complicate business ownership and exit plans. Two stories stood out: The first was about […]
Are Required Employee IRAs Coming?
Tucked into the embattled federal budget reconciliation bill is a possible mandate forcing small businesses with five employees or more to offer an automatic IRA arrangement or 401(k)-type plan. “Under the proposal, starting in 2023, employers with five or more employees would have to offer a retirement plan and automatically enroll employees, diverting 6% of […]
College Athletes “Face” Big Taxes
College athletes are starting to benefit from being able to sell their name, image, and likeness (NIL). But these athletes may be in for a rude awakening come tax time because even freebies and other non-monetary payments can be considered income. It’s a lesson business owners need to understand as well. Until recent months, college […]
How to Avoid Ghost Tax Preparers & Other Scammers
The American tax system is filled with tax breaks that can save you thousands of dollars, as long as you know where and how to look. But the system is decidedly not “user friendly,” which is why many taxpayers miss out. Finding a savvy tax preparer who understands the changing landscape and its moving parts […]