For employers that still maintain a pension plan, losing contact with former employees who are vested can be problematic. The issue typically becomes most acute when it’s time for those participants to begin receiving their required minimum distributions (RMDs). Everyone’s problem From a plan sponsor perspective, incurring administrative charges for servicing “lost” participant accounts, whether […]
Did you know that you can put restrictions on charitable donations you make through your estate? If you want the peace of mind that your donations are used to fulfill your intended charitable purposes, you’ll need to take the steps to add restrictions. Reasons to add restrictions Even if a charity is financially sound when […]
The use of audit analytics can help during the planning and review stages of the audit. But analytics can have an even bigger impact when these procedures are used to supplement substantive testing during fieldwork. Definition of “analytics” Auditors use analytical procedures to evaluate financial information by assessing relationships among financial and nonfinancial data. Examples […]
“How can C-suiters and IT teams sleep better at night when there are so many mounting threats to our digital security? Los Angeles Times Brand Publishing turned to four uniquely knowledgeable cybersecurity experts for their thoughts and insights about threats businesses face in today’s digital world, and what executives can do to safeguard the privacy […]
If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing date and benefit from the tax […]
The COVID-19 pandemic has often made the due diligence process for business acquisitions more complex and time-consuming. But if you’re buying a company, it’s critical to dedicate your full attention to this part of the M&A process — not only to confirm that the selling business is as valuable as you believe it to be, […]
Congratulations to our managing partner, Michael Kaplan, on being recognized as one of Billboard’s top business managers for the 6th consecutive year.
People sometimes keep assets hidden without letting their families know about their location or even that they exist. Similarly, they may have life insurance policies no one knows about. Using a fictional example, here’s why full disclosure of your assets to your family is recommended. George was a successful entrepreneur. He accumulated significant wealth during […]
Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the current accounting guidance? The basics Restricted cash is a separate category of “cash and cash equivalents” that isn’t available for general business operations or investments. There are many types of restricted cash. For example, companies […]
by David Lam | This article originally appeared in The Los Angeles Business Journal Our right to privacy is being challenged in new and urgent ways. As consumers, we must be aware of the impact our choices have on privacy. As businesses, we must know our obligations to protect Personally Identifiable Information (PII) we collect from […]
If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2020 income tax return? It depends. What is required To support a charitable […]
The U.S. Department of Labor (DOL) recently announced the 2021 annual adjustments to civil monetary penalties for a wide range of benefits-related violations. Legislation enacted in 2015 requires annual adjustments to certain penalty amounts by January 15 of each year. The 2021 adjustments are effective for penalties assessed after January 15, 2021, with respect to violations occurring […]