Is Your Homeowners Insurance Up-to-Date?
Homeowners insurance is meant to protect against disasters ranging from fire to theft to lawsuits, encompassing most injuries and damage that members of your family might cause to other people. Most insurance carriers even count pets as members of your family. How much insurance do you need? What would it take to rebuild your home? […]
What to Know About the SEP-IRA
An employer-sponsored retirement plan can be a great way for employers to show workers they care about employees’ long-term financial prospects while giving workers a way to save on their taxes. A simplified employee pension (SEP) plan lets business owners and self-employed individuals use a simple way to make contributions for retirement savings. SEP-IRAs come […]
12 Things to Do If You Suspect Internal Fraud
Discovering that you are the victim of an internal fraud is a harrowing experience, particularly when the perpetrator is someone you’ve trusted. The feeling of betrayal is strong. Your instincts tell you to react immediately. It’s hard to go against that instinct, but that is exactly what you should do so you can learn what […]
By the Numbers: The Key Adjustments for 2021
What will 2021 bring us? After a year of turmoil and surprises, no one has a clear crystal ball. But there are some certainties, and one is that the federal government is changing a variety of number affecting the finances of businesses and individuals. First, any individual or business that received government funds this year […]
The Basics of FATCA and Form 8938
The Foreign Account Tax Compliance Act (FATCA) generally requires that foreign financial institutions and certain other nonfinancial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on relevant payments. Taxpayers must use Form 8938, Statement of Specified Foreign Financial Assets, to report specified foreign financial assets […]
What You Need to Know About FBAR
Do you have foreign assets? Each United States person—citizen, resident, corporation, partnership, limited liability company, trust and estate—must file a Report of Foreign Bank and Financial Accounts (FBAR) to report a financial interest in or signature or other authority over at least one financial account located outside the United States if the aggregate value of […]
