Discover how America’s elite manage their vast fortunes to ensure their wealth endures across generations. This article breaks down the successful strategies and common pitfalls in estate planning, using examples from storied dynasties like the Rockefellers and Hearsts. Gain insights into how you can protect your financial legacy and avoid common estate planning mistakes.
The IRS has warned taxpayers about the increase in tax scams that involve false claims for refunds. The scammers use various schemes to inflate the amount of refund they request, such as claiming credits for fuel tax, sick and family leave, or household employment taxes. These scams affect not only the taxpayers who fall prey to them, but also the IRS and other taxpayers who face delays in receiving their legitimate refunds. The IRS advises taxpayers to be vigilant and protect their personal and financial information from these fraudsters.
In the fast-paced, constantly evolving business environment, maximizing efficiency is key to sustainable growth. One area where businesses can significantly streamline operations is within their accounting department. Packer Thomas’s Client Accounting Services (CAS) can prove to be a game-changer, enabling you to focus on your core business while we handle the complexities of financial management. Contact us today to learn more about how our Client Accounting Services can help your business thrive.
As an accounting student you learn about the stress of working your first tax season, and what to be prepared for by the time you start looking for internships. When I was offered an internship
Managing accounts receivable presents challenges, particularly in uncertain economic conditions. To ensure your company’s financial well-being, periodic review of billing and collections processes is essential. Consider these actionable suggestions: Address billing discrepancies promptly
The primary line item on a for-profit business’s income statement is revenue (or sales), making accurate reporting crucial for producing reliable financial statements. According to U.S. Generally Accepted Accounting Principles (GAAP), revenue is recognized when
Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a letter, can you still claim
Technology is transforming the accounting profession. When businesses moved from paper ledgers to spreadsheets, it improved the timeliness, accuracy and integrity of accounting-related data. Likewise, cloud computing and the ability to remotely access real-time data
With the rising cost of college, many families are in search of scholarships to help pay the bills. If your child is awarded a scholarship, you may wonder about how it could affect your family’s
Your company is unique, and we may not be able to answer your specific questions within a blog post. Contact us and let our experts find the solution that’s right for you.
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