This article was written by Alyssa Rausch, CPA, MBA. As the year draws to a close it is a perfect time for investors to think about any actions they want to take with their portfolio to reduce their tax bill. A couple of relatively simple year end tax planning strategies can be implemented by investors to lower […]

In May 2014, new rules were implemented regarding how revenue is recognized for reporting purposes. The Financial Accounting Standards Board (FASB), released Accounting Standards Update 2014-09, Revenue from Contracts with Customers.  This far-reaching change can potentially alter how most businesses operate and will substantially affect those businesses that enter into contracts with customers. The updated standard no […]

Succession planning is an important step in financial and operations planning for businesses of all sizes. Choosing the path for the business to follow is much more complicated and comprehensive than simply naming a sole successor. Using proven succession planning tools can help your business to multigenerational success.  The most important and useful succession planning tool businesses have […]

On September 10, 2014, New Jersey Governor Chris Christie signed into law an update to the state’s alimony law. The bill was a result of years of work by alimony reformers in NJ who aimed to alter existing alimony guidelines to address what were seen by them as unfair burdens on the higher earning spouse.  While […]

Over the past few years there have been significant changes in how palimony in NJ could be awarded.  In September 2014, the New Jersey Supreme Court ruled on how the 2010 change in palimony requirements affected relationships that transpired prior to the change.   What is palimony? Similar to alimony, palimony is court ordered financial support between two unmarried individuals after their […]

Prenuptial agreements are formal, legal agreements between two individuals before they marry. The intent of the document is to specify how assets and liabilities are to be divided in the event the couple separates or divorces. A well-written prenuptial agreement saves money, time and frustration for all involved as much of the emotional aspect of dividing […]

Succession planning is vital for ensuring the future success of your business. For some business owners, this means passing the business on to the next generation. For others, it may mean selling an interest to management or replacing a co-owner. Unfortunately, many business owners delay succession planning until it is too late. Succession planning does […]

Business owners who are leaning towards or counting on the next generation to take over know they should create a succession plan, but most postpone or shy away from doing so. The risk of not establishing a formal succession plan is similar to when you purchase an auto insurance policy. You secure it before you […]

With regulations and legal procedures unique to New Jersey, clients often need extra help navigating state rules, especially when it comes to assessing or dividing finances. If you have the need for a professional who is an expert in both accounting principles and legal concepts, consider hiring a forensic accountant to analyze financial information, investigate […]