Over the past several years, the U.S., along with the rest of the world, has experienced an increase in the number of catastrophic hurricanes, earthquakes, wildfires, flooding, and other devastating natural disasters. Despite the increase, FEMA estimates that more than 60 percent of Americans do not have an emergency plan for their households. Being prepared and practicing what to do in a natural disaster or severe weather event can improve readiness.
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Today, businesses are navigating a massive cultural shift.
In an infographic capturing the findings from a sampling of 354 cyber claims in the 2017 NetDiligence® Cyber Claims Study, it highlights the weak links, type of data targeted, and the damages associated with a breach. From those claims—where 343 involved the loss, exposure or misuse of sensitive personal data from a variety of industry sectors—humans were the weak link in the incidents.
For businesses to successfully navigate today’s cyber threats and effectively respond to data security events, understanding the costs associated with a data breach is critical.
Two common charitable giving vehicles are donor advised funds (DAFs) and private foundations. A DAF is an account housed in and governed by a public charity. A private foundation is a standalone trust or nonprofit corporation that qualifies as a tax-exempt organization. Both DAFs and private foundations feature the ability to engage family members in philanthropy and create a family legacy. Both offer unique features and benefits, which you should carefully review if you are considering these options.
Incentives that address the work environment, career development, and compensation are attractive, and they are being offered by a plurality of middle market companies to attract and retain a desired workforce in a tight labor market. But age can have a profound impact on the way incentives are viewed. Management will need to strike a balance between incentives they can afford to offer and those that potential employees value.
In a tight labor market, companies are offering a range of benefits and incentives to address the need for a qualified workforce comprised of Boomers, Gen Xers, and Millennials. But are companies striking a balance between the incentives they offer and those that potential employees value?
Life insurance can play an important role in helping achieve the legacy and financial objectives of an individual or family—especially those with significant taxable estates and illiquid assets such as privately held businesses and real estate.
More than any other segment of the population, the wealthy understand the power of leverage in today’s environment. Borrowing against an investment portfolio not only has the possibility of boosting returns, but it can also provide liquidity in a tax-efficient way. With relatively low current interest rates, investors may want to consider borrowing against their investment portfolios to fund major purchases and improve investment returns. Margin loans and non-purpose lines of credit are two effective ways to do this.
The Tax Cuts and Jobs Act reduced income tax rate for C corporations from 35 percent to 21 percent in 2018. No sooner was the ink dry on the new law before owners of pass-through entities began to work with their advisors to determine if it made sense to convert their entities to C corporations. As is often the case with sophisticated tax planning, conversion of a pass-through, whether an S corporation, limited liability company (LLC) or partnerships, to a C corporation, is a multi-faceted prospect.